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  1. #1
    Join Date
    Aug 2007
    Posts
    3

    Default Old Debt Collection

    Years ago (1999 to 2001) I used to have a Providian credit card in which I did not keep up with payments. I was out of work for over 3 years. My credit report shows the date of last activity for this account was in 1/2001.

    Now a collection agency (American Credit Collection) wants to collect on this debt with interest will exceeds over $10,000. My credit limit did not even exceed $4,000 at the time.

    Can someone help me with regards to the statue of limitation for this debt? I live in California. In addition they also just posted in my CR that I owe them this entire amount. Can they collect on this debt and in addition can I get them to remove it from my CR?

  2. #2
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Old Debt Collection

    They can sue you to try and get a judgment against you to collect on the debt. However, the SOL for this type of debt is 4 yrs. in Ca. Therefore; if you were sued, you would use in court the SOL for collection of the debt has expired defense. It won't come off your credit report until the normal reporting period has elapsed. (usually 7 yrs.) Only on a rare occasion will a "pay for delete" happen & then you would have to pay the amt. owed to the creditor & they would have the info deleted from your credit report.

  3. #3
    Join Date
    Aug 2007
    Posts
    3

    Default Re: Old Debt Collection

    They won't be able to collect on the debt but what if they (American Credit Collection) continue posting this debt onto my CR every 7 years?

    My CR now shows that I have overdue debt in excess of $10,000 overnight with this posting.

    Is there anyway I can get the collection company to take it off my record since its not even a legitimate debt and will this hurt my CR?

    Sorry I was wrong, the date of last activity from equifax on my Providian account was 1/2002, however, this should still be well within the 4 year SOL in CA correct?

  4. #4
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Old Debt Collection

    Why are you saying it is not a legitimate debt - you said you didn't keep up the payments. Just because the SOL has elapsed doesn't mean it isn't a legitimate debt.

  5. #5
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Old Debt Collection

    Quote Quoting trouble007
    View Post
    Is there anyway I can get the collection company to take it off my record since its not even a legitimate debt and will this hurt my CR?
    Assuming it has occurred, what did the credit reporting agency (or agencies) say when you complained to them of the improper re-aging?

  6. #6
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: Old Debt Collection

    If the date of the last activity (ie date of last payment) was 1-2002 (you corrected from 1-2001) -the time limit for reporting the debt is 7 yrs. (actually 7 yrs. + 180 days) from that date - goes from date of last activity. The credit reporting agcy. will remove it then. (After 4 yrs. SOL for collecting debt is up) They are two different things.

  7. #7
    Join Date
    Aug 2007
    Posts
    3

    Default Re: Old Debt Collection

    Thanks for all of your help so far. I was able to find an attorney in the same city as where the collection agency is doing business and has agreed to take my case on a contingency basis.

    They will be suing the collection agency on my behalf for me. Unfortunately, there is nothing they can do about my credit report posting for the debt.

    They said they will try to work that in as part of the settlement.

    Trouble007

  8. #8
    Join Date
    Sep 2007
    Posts
    1

    Default Re: Old Debt Collection

    Hey Trouble.....Did you ever sue that company? I'm dealing with them right now. I'd like to know if you were successful with them, because if you were I will model my strategy after yours.

    ACC gave me a barrage of verbal threats and abuse about an account that was legitimate identity theft. I had the original account investigated back in 2002, it was found to be fraudulent by all three credit reporting agencies and was promptly removed back then (it was originally opened fraudulently in February of 2000). All of a sudden this company ACC shows up this past August and is trying to claim I owe them that amount plus the interest since all that time. Obviously my original creditor sold this debt to ACC. ACC actually said to me that this won't get off my account until 2025. The guy even told me how they're going to keep on re-aging it up until then. He even at one point asked me why I'm not man enough to pay what I owe, after threatening to come to my door and physically make me pay it up.

    I'm looking for any advice on what I can do to a) get this off my credit reports, and b) get this company off my back. I've already initiated an investigation with the credit reporting agencies. The results came back "verified and updated". I'd also like to sue this company for the harassment and damage (not being able to qualify for an auto loan and a refinance) they've done towards me. Any advice would be greatly appreciated.

  9. #9
    Join Date
    Sep 2007
    Posts
    110

    Default Re: Old Debt Collection

    I'm looking for any advice on what I can do to a) get this off my credit reports, and b) get this company off my back. I've already initiated an investigation with the credit reporting agencies. The results came back "verified and updated". I'd also like to sue this company for the harassment and damage (not being able to qualify for an auto loan and a refinance) they've done towards me. Any advice would be greatly appreciated.
    How old is the original debt? is it out of SOL? Re-aging is against the Law Collection scum do it all the time and they need to be sued for it. FCRA violations I think are up to $1000 per incident

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