Results 1 to 6 of 6
  1. #1

    Default Collections After SOL Expired and 7 Years Credit Report Drop

    Hello everyone,

    I hope you guys can provide some helpful insight.

    Long story short: I live in NYC and received 2 letters stating that my bank accounts have been frozen. I never received any papers to appear in court - and if I did I certainly would have since my SOL has expired for these 2 accounts PLUS on my current credit report, the 2 accounts don't even show up anymore.....this is the best evidence that the SOL has expired in my opinion.

    What do you guys think my chances are in getting these darn default judgments vacated and then winning the actual re-trial...since I have the new credit reports that don't show the 2 accounts on them as evidence??

    Please advise....

  2. #2

    Default Re: SOL Expired + 7 Years CR Drop

    Another thing is that these letters were sent 3 months ago........

    But the main thing is that I never received any papers to appear in court....

    Since my SOL expired way more than 3 months ago, I would certainly have went to court if I received those court summons papers....

  3. #3
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: SOL Expired + 7 Years CR Drop

    If the court papers were filed before the statute of limitations ran, they were filed in a timely manner. Whether or not accounts appear on your credit report is entirely irrelevant to whether or not they exist or are valid - creditors do not have to report your debts. If there has been a court action resulting in default judgments, you need to investigate the court file to find out how that occurred without your being served.

  4. #4

    Default Re: SOL Expired + 7 Years CR Drop

    WoW - I never knew that creditors never had to report that stuff on credit reports - I thought that it was automatic since I've read in a lot of other message posts that people try to debt negotiate/settle with the collection agencies and simultaneously ask for the debt notation to be removed from their credit report - many thanks for that tidbit - really helps!

    The problem is that I don't have an old credit report from 6/7 years ago and the only thing even remote to "proof" of expiration of SOL that I have is that is no longer on my credit report -- the stuff was there on my credit report 4/5 months ago when I last ran it but like an idiot, I didn't save it as a pdf thus I don't have it and the access on Equifax expired so I can't retrieve it - I only have credit reports from Jan 2007 - darn! I feel like such an imbecil!

    How difficult is it to get that evidence of charge-off date? It's not like as if the collection agency will willingly provide it.....I know for a fact that it's been more than 6 years (I live in NY and the SOL is 6 years) since my last payment to the 2 accounts...I just wish that there was a way for me to get this information...do you think if I call the original credit card company with the original account number that they will provide it? or will they just laugh in my face with disgust??

    Many thanks for your insight....

  5. #5
    Join Date
    Jul 2006
    Posts
    5,437

    Default Re: SOL Expired + 7 Years CR Drop

    This is a canned answer, but there is some good info in it:


    Standard answer on expired SOL (statute of limitation) and/or validation and/or dispute letters. There are thousands of posts similar to yours on this forum so I have prepared a standard answer.

    Validation letters:

    http://forum.freeadvice.com/showthread.php?t=353111

    SOL (Statutes of limitation are DEFENSES to lawsuits; they do NOT provide a method to stop someone from suing you. This defense means when they sue you, you answer with the defense that it is barred by the SOL.)

    http://www.bcsalliance.com/y_debt_sol.html

    http://www.fair-debt-collection.com/...te-letter.html


    Validation letter samples you can get at :
    www.creditinfocenter.com
    and www.creditboards.com

    Make sure you ask for VALIDATION (and do not accept verification).


    Disputes: You can write a letter of dispute to the three credit reporting agencies.

    Go this website to find instructions and samples for how to dispute: http://www.creditinfocenter.com/creditreports/

    Sometimes errors are easy to remove and sometimes they stick like glue. It is inexpensive to try and not difficult.

    I am NOT a creditor-debtor lawyer; stand by for further help.

    I am NOT vouching for the accuracy of these websites!

    Debt settlement:

    http://forum.freeadvice.com/showthread.php?t=293829

  6. #6

    Default Re: SOL Expired + 7 Years CR Drop

    SeniorJudge,

    This is great information! Many thanks!

    I was able to pull out some old papers...

    For 1 of the accounts, I have one letter from the collection agency law firm stating that my debt is $4.8K and then I have another letter stating that my bank account has been frozen in the amount of $9.8K --- just in a span of 7 months, my debt has doubled according to offical letters that I have directly from the law firm --- is this something that I can use in court to show how irresponsible they have been and that based on prior misconduct that it is seriously probable that they never even served me the proper court summons appearance papers? I would think that any judge, heck any normal person, would see this as extremely inappropriate and uncalled for action...

    I have the other account with offical papers that also jump the debt owed by a big amount -- they tacked an extra $1.5K in 2 months on a $6.7K original debt according to the earliest letter that I have in my possession. This law firm also never served me with any papers to appear in court. The numbers also decrease in some of their other subsequent correspondence to me which should show that the collection agency is not being absolute in their record keeping efforts nor are they being honest and forthwright in their lawsuit actions. I'm certainly not well versed in the legal technicalities but I would assume that in order for a judge to take any lawsuit initiated seriously, the paper trail should be in some sort of logical sequence....

    Please advise. All your insights are extremely helpful.

    1. Sponsored Links
       

Similar Threads

  1. Credit Reports: Will a 7-1/2 Year Old Entry Drop Off My Credit Report
    By kinzicar in forum Personal Finance And Investment Law
    Replies: 6
    Last Post: 07-31-2008, 01:49 AM
  2. Repossession: Repo On Credit Report For More Than Ten Years
    By manuelgestrada@msn.com in forum Cars and Dealerships
    Replies: 1
    Last Post: 01-10-2008, 05:55 AM
  3. Credit Reports: Reporting Beyond 7 years on credit report
    By yerrt67 in forum Personal Finance And Investment Law
    Replies: 2
    Last Post: 02-15-2007, 04:53 PM
  4. Expungement and Sealing: Do Items Automatically Drop Off Your Record After 7 years?
    By ALC1966 in forum Criminal Records
    Replies: 2
    Last Post: 12-28-2006, 10:08 PM
  5. Collections Judgment on a Credit Report
    By wmtu9 in forum Civil Procedure
    Replies: 2
    Last Post: 09-12-2005, 06:00 AM
 
 
Sponsored Links

Legal Help, Information and Resources