Ignore or file BK? Help!

What is the name of your state? New York
Hi,
I lived in Texas when I accumulated my credit card debt. In January 1996 the debts began to be charged off. I married and now reside in NY. I just received a letter from a company that says it purchased one of my credit card debts. I can't pay these debts and neither can my new husband. I think the SOL has run out on these debts in TX and NY. Should I ignore this company? File bankruptcy? I don't know who has my other debts if I were to file BK. Is there a way to find out who has my other debts? We recently purchased a house and my husband is worried that they could come and take our home. What should I do?

[Ladynred]

1 - They CANNOT come and take your home !

2- If all these debts were charged-off in 1996, then the SOL for TX AND NY has expired and the debts are UNCOLLECTABLE. You can no longer be sued to collect. Well.. they can try but the expired SOL is your defense and it gets thrown out.

The SOL clock doesn't start with the charge-off, it starts with the first time you went delinquent and never caught up. So, subtract 180 days from the charge-off date and you have the start of the SOL.

The easiest way to check on this is to pull all 3 credit reports and look at the 'date of last activity' - that will usually be when you last paid and the start of the SOL. If you have any records that show last payment, you can use that too. Even if some didnt' get charged-off until 1997, the DOLA is 6 months prior to that date.

You don't have to pay the scum CA's penny ! Send them a cease and desist letter telling them never to contact you again as the debt is time-barred. Send it certified, RRR and keep copies of everything.

You can find an excellent expired SOL C&D letter here:
[url]http://community-2.webtv.net/Y-Chat/WhyChatsCredit/page3.html[/url]

You can find the appropriate TX and NY statutes to use in the letter on that same site.

Thank you for your help. I really appreciate it.