Collection Letter

[Roni874]

What is the name of your state? Texas

I have been working on cleaning up my credit for the last couple of years since I tried to get a mortgage and found out my credit was absolutely horrible! I have since paid off some bad debts and most recently received a letter (today in fact) from a collection agency regarding a past debt (that I last paid on in October 2001). I have not heard anything at all regarding this debt in almost 5 years. It is my understanding that the SOL in the state of Texas is 4 years, however, I lived in the state of Illinois at the time that I opened this account. Which SOL applies? I do not know what type of contract it was, but I can tell you that it was financing for a PC thru the manufacturer.

I have heard that in a situation such as this that I should try and dispute the charges, in writing, and take a chance that they will not be able to provide the proof that this debt is mine. Is this true?

I am working on trying to figure out how to pay on a judgment that was filed against me in 2002 (that I was not aware of until my credit was pulled last year) the last thing I need right now is to worry about this too when the judgment is the thing that is really hurting me. Any advice you can provide would be greatly appreciated.

[Ladynred]

Demand they prove the debt, send them a validation letter. You can find more info in validation and sample letters at [url]www.creditinfocenter.com[/url].

[debtcollector`]

I copncur with LNR -- request validation.

That said, if you want your credit cleaned up -- pay it. Wait six months and dispute on your credit reports.

DC

[Roni874]

I am definitely going to try the validation letter route. Thanks for the link!

I still didn't get an answer to my question though...what SOL applies in this case? The reason I am asking is because the mortgage broker told me not to worry about something this old, to get everything else more recent and the judgment taken care of, I have since taken care of everything that he pointed out except for the judgment - have I been ill-advised?

[Ladynred]

Technically, the SOL in most states tolls (stops) when you leave the state. IF they sued you in IL they could say the SOL has not expired. However, IF they were to sue you in TX, your best bet would be to go with TX SOL of 4 years.