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Old 12-12-2008, 05:00 PM
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Old debt

What is the name of your state (only U.S. law)? Kentucky. I have an old debt to Sears of over 5 yrs. I have been contacted by collections regarding an amt of over $11,000 on a debt that was $1,900+ at the time of last payment. Can they collect this?
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Old 12-12-2008, 05:42 PM
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Quote:
Originally Posted by dhatfield View Post
What is the name of your state (only U.S. law)? Kentucky. I have an old debt to Sears of over 5 yrs. I have been contacted by collections regarding an amt of over $11,000 on a debt that was $1,900+ at the time of last payment. Can they collect this?
Can they? They will try. Whether or not they can depends on your present ability to pay. You might want to review the sticky on negotiations.

DC
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Old 12-12-2008, 06:00 PM
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Check out the statue of limitations for your state. If there hasn't been any activity on the account and the statue of limitations has passed, then you can use the statue of limitations as a defense. I would be willing to bet that the call was from ERS, they like to buy up old debts from Sears and try to collect what they can. They pay pennies on the dollar and then try collect outrageous amounts.
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