Isn't there a statute of limitations of so many years on old debts?
I know I last heard 7 years and that 7 years starts over and over, but what constitutes starting those 7 years over? Is it the last time I paid on the bill, or the last time they tried to collect it?
I ask because I just got yet another of those bill collector phone calls. She stated it's a bill of $500 and some odd dollars. She said it was a loan of some type, of which I've never had any loans. She said the bill was from 1999 and that the last time I paid on it was 2001. 2001 was 8 years ago.
When I tell them I don't have money to pay anything right now with the exception of my current living expenses then they start getting nasty. They start asking those stupid questions...you know...how am I making my money? why don't I want to pay off this debt that I owe? don't I have someone I can borrow the money from to get this debt taken care of? why aren't you working? if you aren't working, how are you paying your bills now? It's at that point that I just hang up on them!
Unfortunately I don't have caller id...my phone is just a basic line, no extras. If I did I would then know not to answer anonymous or other numbers that is apparently someone looking to collect and to treat me like crap. (and yes, I realize that is their job)
recommend this
email
print
link to this page
Comments: 57
If you live off of public assistance or social security they can not touch your income
however you can deal with debtors and reduce the amount you owe.
And some states like NJ have even less time, I sucessfully plead my case before a judge when a creditor took me to court, to attach my wages, when I produced the NJ statute that showed the law I motined for dismissal on the grounds that there suing me was mote. I WON!!!! Case was dismissed and I did not even use a lawyer, I just did the homework myself and had all the statue info with me. Now I quote the statuet when they call, they get pissed and say but it is my debt and I am morally obligated to pay it. I agree with them and tell them God is my only moral judge, they get the message then and no more calls.
It does not apply to just Bankruptcy. IF you did not take out the loan you need to send a Stop and Desist Letter. I am not telling people to NOT pay their debts.
If you have any chargeoff's on your Credit report, look at the dates.
IF you re-open them by payments now, the years start all over.
go to these websites for more info :
http://budhibbs.com/index.html
Statute of Limitations on Debt Collection
*Attention* Always consult with a qualified attorney for matters that relate to you.
The statute of limitations relates to a creditors right to sue to collect money. The original creditor is mandated by federal law, to charge-off an account when no payments have been received for 180 days.
That date is referred to as the ‘Date of Last Activity (DLA)’ and reported as such, to the credit reporting agencies by the creditor.
The DLA determines two critical issues that you should be aware of:
(NOTE: Texas allows the date to start when you last make a payment, it can ONLY be re-started if the account is brought current)
It starts and stops the seven year clock on your credit files.
It starts and stops the statute of limitations for taking legal action in your state by any subsequent owner of the account.
Just Hang up.
The Federal Truth in Lending Act, Section 127 talks at length about credit cards as open accounts. However I have received some information recently indicating that some courts have ruled that credit cards are written accounts. This area of the law seems to be fluid. Meaning that what your court rules may be based upon what evidence is presented and other factors.
While the Federal Truth in Lending Act is written in legal terms, meaning good luck trying to read it, the The State of New Hampshire’s Department of Justice's Sourcebook has a very readable definition, check the second paragraph, of why credit card accounts are open-ended.
In most states, credit cards are considered Open Accounts. A written contract would be an auto loan, signature loan or installment agreement. A judgment after a lawsuit changes the rules and results in a a separate Statute Of Limitations, which you can find here.
Oral Agreements : 3 yrs
Written COntracts: 5 yrs
Promissary notes : 5 yrs
Open accounts: 3 yrs
Check your credit reports from all 3 Agencies for FREE.
Oral Contract: 3 years
Written Contract: 6 years
Promissory Note: 5 years
Open-Ended Accounts: 3 years
They have to give you written verification about the original Debt, and how much is owed. IF you write and send a certified Cease and Desist and Verification letter they must stop all calls and collections.
IF this is not on your credit report, it may not be your debt.
NEVER give your banking info to anyone over the phone.
go to FTC webiste for more info.
Imply that failure to pay the debt could result in arrest, imprisonment, or garnishment of wages;
Call consumers at work when they knew the consumers' employers prohibited such calls;
Talk with third parties, including neighbors, children, and employers, for purposes other than acquiring location information about consumers, without consumers' consent;
Cause the telephone to ring, or engage a person in telephone conversations, repeatedly or continuously, with the intent to annoy, abuse, or harass a consumer;
Threaten to take action -- such as filing a lawsuit -- when they did not intend to do so;
Call consumers at times or places that they knew or should have known were inconvenient;
Fail to notify consumers of their right to dispute and obtain verification of their debts, and to obtain the name of the original creditor
Continue to try to collect debts after consumers disputed them in writing, and before verifying the debts.
Use obscene or profane language
The FCRA allows you to order one free copy from each of the nationwide consumer reporting companies every 12 months.
Other circumstances:
Under federal law, you’re entitled to a free report if a company takes adverse action against you, such as denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft. Otherwise, a consumer reporting company may charge you up to $9.50 for another copy of your report within a 12-month period.
Thanks for posting to Happy People
Stopping by from points nation.
Popping in from Point Nation to view your content!!~
points nation
They can answer your q. and they have forms you can print and send to places, It is called a cease and assit. form.
More,
I'm Surfing Gather, dropping by from Points Nation! ;-)
Stopping by from
Hope your day is filled with joy......Points Nation!