Being Pressured to Settle on Debt, but Facts Don't Line Up

[alex#4in2009]

My question involves collection proceedings in the State of: NC

Aggressive collection agency called claiming:
* Husband owes on credit card
* Card was issued to apartment he no longer lived in
* Payments were made on credit card for five years (including several when we were married and I can tell you no credit card statements came from that account -- I pay the bills and get the mail)
* This credit card is not on his credit report (agency says it is, but I just got copy and it's not)
* Agency claimed they sent notice in writing, we have 24 hours to pay or else we're going to court, willing to settle for $500, if not it'll be $3500+
* Agency said clearly based on his good credit, he's not a deadbeat and so this must have been overlooked, etc. Just take care of it, etc.

I called the bank and they said there was an account in his name by that number that got charged off in 2003 and sold to collection in 2007.

I have issued fraud alerts on our credit reports and accounts just in case.

I don't think this is typical identify theft becaues they claim payments were made over time. However, it happened when my husband didn't speak English yet and he was taken advantage of in another situation, so I'm wondering if he wasn't tricked into cosigning or signing something he couldn't read. However, he didn't live at the address it went to.

There are no cases against us -- I searched the court system for our last name.

If I was convinced this was valid, I would just pay. But there are too many facts that don't line up (collection agency claims charge off was 2005, bank says 2003, etc.) and they refuse to send proof without adding over $1000 to the bill for the extra work we are causing them.

Am I doing all this research and stressing for nothing -- I just heard that the SOL is 3 years in NC. Is that from charge off date? Whether 2003 or 2005, it's past. Or is that from date they sold the account? 2007?

Bottom line, my question is -- do I settle for $500 or risk a much higher amount in a lawsuit if it gets to that point? Or does the SOL protect us?

[divemedic]

1 Even the SOL on promissory notes in NC is only 5 years. If you are sure that no one has paid on this in that time, you have a defense in the form of the SOL.

2 If the debt collector's first contact with you was within the last 30 days, send them a dispute letter by certified mail. This preserves certain rights that the law gives you.

3 If they do not in fact sue you, they have just broken the law. If you have this in a written letter or a voice mail, keep it, you can use it to make some cash later.