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  1. #1
    Join Date
    Aug 2007
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    6

    Question Florida Debt That Was Settled Comes Back Again

    In November 2001, my wife settled a debt with Capital One and NCO Financial, paying $5125 on a debt of ~$7800. We were told the debt would be listed as settled. Fast forward a few months, and we get a tax form, stating we have to report on our 2002 taxes the charge off that capital one took on our behalf. I could live with that, but was unhappy that they had posted it to her credit report as a charge off rather than a settled, otherwise, I would have just not paid period. Fast forward a few years. We moved out of Florida in June 2006 to Oklahoma, and had never heard from Capital One, nor any collection agency about this debt. It shows on her credit report as a charge off, last action 11/01. She applied for a Lane Bryant credit card the other day, and was approved. Now low and behold, almost 6 years after the fact, we get a dunning notice from Alliance One stating they have been charged by Capital One to collect the "debt" which has somehow grown to $5600.44, and we have 30 days to respond. The temptation is to pitch it, as the Florida SOL has expired to my knowledge. Last charge we made on the account had been in 1998. I'd appreciate input in how to proceed. Thanks in advance.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Florida Debt That Was Settled Comes Back Again

    Have you disputed the debt yet?

  3. #3
    Join Date
    Aug 2007
    Posts
    6

    Default Re: Florida Debt That Was Settled Comes Back Again

    Quote Quoting Mr. Knowitall
    View Post
    Have you disputed the debt yet?
    Not yet, I didn't want to take any action without knowing what I was doing. I didn't want to give them anything to use against me.....

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

    Default Re: Florida Debt That Was Settled Comes Back Again

    Just be sure to respond in the time limit allowed or they may get a default judgment against your wife.

  5. #5
    Join Date
    Aug 2007
    Posts
    6

    Default Re: Florida Debt That Was Settled Comes Back Again

    Quote Quoting Betty3
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    Just be sure to respond in the time limit allowed or they may get a default judgment against your wife.
    I will do so today. I have a few questions:

    1. Am I correct in thinking that the SOL has expired, and that even if they tried I'd have that as a defense in a request for judgment.

    2. Should I state that in my response, or is that just poking the beehive unnecessarily?

    3. I had settled this account, then paid taxes on the charge off. Is it legal for them to come after me now, 6 years later for the charged off amount PLUS accumulated interest?

    4. What's the point of settling if the company is going to do stuff like this anyway. The net result seems the same as if you just ignored them in the first place, except I'm out over 5 grand?

    Don't get me wrong here. My wife made the debt, and we knew we owed it. Most of the 5k we paid were late fees and interest charges. The amount borrowed had been inflated tremendously by these fees, and we felt the settlement was more than fair. It's what happened since that I have a hard time stomaching.

    Thanks for the responses.

  6. #6
    Join Date
    Aug 2007
    Posts
    6

    Default Re: Florida Debt That Was Settled Comes Back Again

    Never got an answer to the questions below. I responded with the dispute letter recommended by Mr Knowitall, and got another letter in the mail today continuing on as though I had never responded in the first place. Basically offering me Flexible Settlement terms and offering 39 days to start payment on a debt that was settled 6 years ago....

    Can anyone offer advice and possibly answer some of the attached questions? PLEASE?????

    Quote Quoting Davesbroke
    View Post
    I will do so today. I have a few questions:

    1. Am I correct in thinking that the SOL has expired, and that even if they tried I'd have that as a defense in a request for judgment.

    2. Should I state that in my response, or is that just poking the beehive unnecessarily?

    3. I had settled this account, then paid taxes on the charge off. Is it legal for them to come after me now, 6 years later for the charged off amount PLUS accumulated interest?

    4. What's the point of settling if the company is going to do stuff like this anyway. The net result seems the same as if you just ignored them in the first place, except I'm out over 5 grand?

    Don't get me wrong here. My wife made the debt, and we knew we owed it. Most of the 5k we paid were late fees and interest charges. The amount borrowed had been inflated tremendously by these fees, and we felt the settlement was more than fair. It's what happened since that I have a hard time stomaching.

    Thanks for the responses.

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