My question involves collection proceedings in the State of: Pennsylvania
Hi, I graduated college back in Dec 2002. Apparently during my last semester in school, I signed a promissory note with my fraternity saying I would pay $2000+ for owed moneys by december of 2004. Over the course of the next few years, my fraternity never contacted me to collect the debt, and I forgot about the owed money. In the ensuing years, the fraternity was be closed down and re-chartered, and the new members went looking through owed moneys in hopes of raising funds and found my promissory note. They claim to have sent me postal notifications to my address listed on my note from 03, however, I had moved multiple times since then(but my address is public record and my phone number has not changed). Since they did not receive a reply, they forwarded my debt to a collection agency. The agency then hit my consumer bureau report and have requested I pay the principle and an additional 33% for "collection fees". I would have had no issue paying over the last 5 years had I been given notice, but at this point, it seems absurd to take such action against me. Do i have any recourse?
I know PA law says the SOL on collecting debt is 4 years, but is that 4 years from when the debt was incurred(12/02) or from when it was due(11/04). If the former, then they cant collect right? How can I fix my credit report then? If the latter, is there consequence in waiting for them to force collection before (11/08)?

