Can an agency collect on a debt that was "written off"

[bjd60]

I have an old credit card debt I was unable to pay. The original debt was "written off" by the credit card Co. in 1998.
I recently recieved a notice from a collection agency that states they acqired the account (June 2001)and now want full reimbusement fo the debt and all interest owed. Can they do this if the debt was written off ? any help would be appreciated.

 

[JETX]

Yes, they CAN do it.

'Writing off' a debt does not mean the debt is paid and it is NOT a 'get out of debt free' card. It is purely an accounting term to show that the debt has been moved from the 'performing ledger' (being paid) to the 'non-performing ledger'. Once it is non-performing, the debt is usually sold off to others to attempt to collect.

As long as the statute of limitations has NOT expired on the debt, it can still be pursued and still be taken to court.

And before you ask.... the SOL (statute of limitations) is determined by the amount of time from your LAST account activity (payment or application).

 

[bjd60]

Halket,

Thank you for responding to my query, although it isn't what I wanted to hear I do appreciate the response.