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Old 07-01-2009, 12:57 AM
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I used to get so many many many collection letters and calls, suddenly stopped, why?

What is the name of your state (only U.S. law)? California

I used to get so many many many collection letters and calls, suddenly stopped, why?

I checked my credit card bills, it was exactly 4 years back when I stopped paying my credit cards because I couldn't afford to anymore.

Are the collection agencies following the law that they can not send collection letters after 4 years?

Another thing is one of the collectors sued me, but I hired a lawyer and he filed an answer in the court and the collector filed for dismissal. Statute of limitations to collect has passed. My lawyer filed "Memo of costs" and on behalf of me won a judgement against the collector in the court. This shows up in public records. I don't know if other collectors look at this and decide not to file a suit or send collection letters since I know how to respond.
Last edited by palladium; 07-01-2009 at 12:01 PM.
  #2  
Old 07-01-2009, 01:11 AM
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Quote:
Originally Posted by palladium View Post
What is the name of your state (only U.S. law)? California

I used to get so many many many collection letters and calls, suddenly stopped, why?

I checked my credit card bills, it was exactly 4 years back when I stopped paying my credit cards because I couldn't afford to anymore.

Are the collection agencies following the law that they can not send collection letters after 4 years?
They ARE allowed to send collection letters after 4 years.
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  #3  
Old 07-01-2009, 07:42 AM
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Your account is most likely just being sold to another company - the calls and letters will start up again in a few months.
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Lawsuits are not about justice. They are about MONEY. If you don't want money, then you shouldn't be thinking about suing. And people post here because they are thinking about suing. Because they want money, no matter how much they don't want to admit that to themselves.

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  #4  
Old 07-01-2009, 07:45 AM
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Originally Posted by palladium View Post
Are the collection agencies following the law that they can not send collection letters after 4 years?
No such law.
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  #5  
Old 07-01-2009, 12:02 PM
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Another thing, I won a judgement against a collector for "Memo of costs"

Another thing is one of the collectors sued me, but I hired a lawyer and he filed an answer in the court and the collector filed for dismissal. Statute of limitations to collect has passed. My lawyer filed "Memo of costs" and on behalf of me won a judgement against the collector in the court. This shows up in public records. I don't know if other collectors look at this and decide not to file a suit or send collection letters since I know how to respond.
  #6  
Old 07-01-2009, 03:01 PM
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That is also possible, but they also may just sell your account to another collector. Nothing stops them from doing it.
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  #7  
Old 07-01-2009, 11:58 PM
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What are the odds of 5 different companies all stopping to send letters simultaneousl

What are the odds of 5 different companies all stopping to send letters simultaneously. If it is one or two I can understand that they might have sold it to someone else. But all of them stopped sending 3 months back. I checked that that was the time when the 4 years SOL got over. By the way, all these scavenger collection companies are not the actual creditors. They buy these debts from credit card companies for 2 cents on a dollar. So who is going to buy it for even 1 cent on a dollar after the 4 year SOL has passed.
  #8  
Old 07-02-2009, 01:16 AM
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Quote:
Originally Posted by palladium View Post
What are the odds of 5 different companies all stopping to send letters simultaneously. If it is one or two I can understand that they might have sold it to someone else. But all of them stopped sending 3 months back. I checked that that was the time when the 4 years SOL got over. By the way, all these scavenger collection companies are not the actual creditors. They buy these debts from credit card companies for 2 cents on a dollar. So who is going to buy it for even 1 cent on a dollar after the 4 year SOL has passed.
There is a company called WebRecon that provides a service to debt collectors to allow them to avoid debtors that have a history of suing (and presumably especially winning).

While the SOL will certainly devalue an account, there are junk debt buyers around that still buy debts past SOL. They often (and probably usually) engage in abusive or borderline abusive collection practices, or even do illegal things like re-aging accounts in various ways. A debt past SOL does not mean it cannot be collected on. It only means they don't get help from the courts to do it (unless they pull some trickery like "sewer service").
Last edited by m martin; 07-02-2009 at 02:27 PM.
  #9  
Old 07-02-2009, 02:05 PM
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Cosine, Thanks a lot. Your explanation makes a lot of sense

Cosine, Thanks a lot. Your explanation makes a lot of sense
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