collection

What is the name of your state? California

Received a collection letter from an agency that bought and old deficiency balance from a voluntary surrendor in Jan. 1997. They now ant the deficiency 7 years later. In California is there not a statute of limitations of 4 years from last payment which was the sale of the car in Jan. 1997.

When I first received this notice and since our credit is perfect today and this account has long been of our credi for over 4 years, I offerd top settle for $1,000, they accepted, but that was before I knew of the Statute 337 in California. In there acceptance of the settlement, they did responde to my condition that no refernce to our credit reports bof this account will be made.

Can i recind my settlemt offer and invoke the SOL 337, can they legally go after us?

They did not respond to my condition of the settlement was to have no mention of this account on any of our credit reports.

[Ladynred]

You are correct, the SOL on this has long past.

Send them a complete cease and desist letter telling them never to contact you about it again as it is time barred. Inlcude the CA statutes in your letter - every little bit helps Tell 'em to go pound sand !

Send it certified, RRR and keep copies of everything.

Did my offering a settlement and there acceptance revoke the SOL or since they did not mention in their letter a response to my condition of no credit reporting this was not a complete acceptance of the terms of the settlement.

[Ladynred]

Absolutely not, the SOL is intact. As long as there was no money actually changing hands, and no signed agreements between both parties, the SOL stays expired.

I sent them a signed letter offering the settlemt before I new of SOL and they returned signed letter , does this consititute a signed agreement?

[Ladynred]

As long as you haven't sent them any money, then you should still be ok with the SOL. Actually paying them is the problem.. no money changes hands.. no reset of the SOL.

How does this letter look to you?

In response to your letter dated November 18, 2003, accepting only the financial payment portion of our offer dated November 10, 2003, but did not acknowledging or accept my first condition “…with no blemish or reference to our credit bureaus…”, instead, in your letter of November 18, 2003 you mention “…we will notify the credit reporting agencies of the paid status of your account”, which means you are “referencing” this account on our credit once the settlement was received which does not meet the conditions of or settlement.

Since our offer to settle, we consulted legal counsel and they reviewed the documentation you provided us and we have been advised that we have no financial obligation. Under California Civil Code Procedure 337, the time of commencing action has expired and the statute of limitations on this matter has run out making it time barred, it is beyond the four years from the date of last payment, which was the application of funds from the sale of the vehicle in January, 1997. We are fully prepared to assert that as an affirmative defense should you file suite.

We are rescinding our offer to settle dated November 18, 2003 and at this time demanding a complete CEASE AND DESIST FROM ALL FUTURE COMMUNICATION PURSUANT TO THE FAIR DEBT COLLECTION PRACTICES ACT (FDCPA) in regards to this matter. . Any contact with us, our families, friends, employers, etc. will be a violation of the FDCPA.

In addition, now that I have made you aware that the account is time barred, and should you decide to sue us anyway, we will seek a counter law suit to have you sanctioned for willfully and maliciously filing a frivolous lawsuit that you had no legal