Nelson Watson & Associates

[kjkwrd]

What is the name of your state? Arkansas

For the last few months I have been receiving calls from Nelson Watson & Associates. I have been ignoring them because the SOL has expired. It has been over 8 yrs. since my bad debt. They got me Saturday. They admitted they couldn't sue me when I told them that the SOL was out on this debt. They then told me I owed 3770.00! Here is where I probably messed up by continuing to talk to them. The guy asked how much I thought I owed and I told him around 1,000. He wanted payment and I told him I couldn't pay all of it by the end of the month. He faxed me a letter stating that we had agreed on the amount of 1,000. to be paid and had dates for each 500.00 payment! I didn't agree to pay him anything. Should I send a letter of cease & disist, or just keep ignoring the phone when it rings?

Kathy

[debtcollector`]

A point on Arkansas law for you:


SOL
Written contracts: 5 years, NOTE: Partial payment or written acknowledgement of default stoppeds this statute of limitations. (A.C.A. 16-56-111)

Similar for other states:
District of Columbia Statutes of Limitation
Contract, open account or credit card account: 3 years from the date of last payment or last charge. NOTE: An oral promise to pay re-starts the three years.

Idaho Statutes of Limitation
A written acknowledgement or new promise signed by the debtor is sufficient evidence to cause the relevant statute of limitations to begin running anew.

North Dakota Statutes of Limitation
NOTE: A new written acknowledgement or promise or voluntary payment on a debt revives the statute of limitations for the debt.

Also, some states defer SOL to the state of the orginal agreement.

Take care in what you agree to. Sending a letter claiming SOL as a defense to your debt may revive the SOL if done wrong.

DC

[kjkwrd]

So far I haven't acknowledged anything in writing. So I shouldn't admit I owe the debt, (in writing) or it will open up the SOL again?

K

[ablessin]

It sounds like as long as you don't acknowledge the debt in writing you are safe and they can't come after you for the money.

You'd be best to write to them and tell them to go fly a kite.

there are good templates - if you google credit and collections letters, you'll find them.

I have used their templates more than once