Dealing with a new junk debt buyer

[texasfan]

What is the name of your state? VA

I have an old debt from 12 years ago with a department store for $800. They assigned it to Asset Acceptance who put it on my credit report etc etc. That time expired a few years ago and the debt dropped off my report. Now, I just received a letter from a new collector who says they are working for Asset Acceptance.

From what I understand, I have three options - ignore the letter and take a "wait and see" approach (since the SOL expired for VA), ask for debt validation (knowing they won't be able to validate the debt), or send c&d letter. I'm inclined to ignore the letter but I really don't want to find out later that they have tried a re-aging on my credit report. I've read many postings and most give conflicting information on the best approach which has me baffled on what to do. Could I get some opinions here? Thanks!

[moburkes]

Originally Posted by texasfan

What is the name of your state? VA

I have an old debt from 12 years ago with a department store for $800. They assigned it to Asset Acceptance who put it on my credit report etc etc. That time expired a few years ago and the debt dropped off my report. Now, I just received a letter from a new collector who says they are working for Asset Acceptance.

From what I understand, I have three options - ignore the letter and take a "wait and see" approach (since the SOL expired for VA), ask for debt validation (knowing they won't be able to validate the debt), or send c&d letter. I'm inclined to ignore the letter but I really don't want to find out later that they have tried a re-aging on my credit report. I've read many postings and most give conflicting information on the best approach which has me baffled on what to do. Could I get some opinions here? Thanks!

1. You could take the wait and see approach, but the SOL only applies if they sue you. You bring it up in court as a defense. Or, you could bring it up in a letter to the creditor.
2. They will likely be able to validate the debt.
3. C&D won't help you.

Are you 100% sure that the date of last activity was 12 years ago? Have you moved since you acquired the debt?

[texasfan]

Originally Posted by moburkes

1. You could take the wait and see approach, but the SOL only applies if they sue you. You bring it up in court as a defense. Or, you could bring it up in a letter to the creditor.
2. They will likely be able to validate the debt.
3. C&D won't help you.

Are you 100% sure that the date of last activity was 12 years ago? Have you moved since you acquired the debt?

Thanks for the reply. I did move after I acquired the debt - to Virginia. However, I moved after the SOL expired (Texas SOL is 4 years) and have resided in Virginia for the past 6 years. I am 100% sure the date of last activity was 12 years ago.