Outdated credit debt - new collection attempt

[trashman]

What is the name of your state?I live in California. I had an old credit card debt from about 7 years ago that was charged off by the original creditor. I received a notice a week ago from a collection agency that bought this debt and are trying to collect. My credit report reflects this as well. I believe in California credit card debts have a statute of limitations of 4 years, so this collection agency cannot require me to pay. Below is a letter I would like to send as a response to the collector.

Is this an appropriate way to handle this situation? Should I send a copy of this letter to the credit bureaus? I appreciate your help!

-trashman



To: Asset Acceptance LLC
Mariay ******

From: mr. so and so

Re: Asset Acceptance LLC ACCT#: ########


Regarding your purchasing and efforts to collect $1466.74 for the debt of orginal Wells Fargo account # ##############, please be advised that this debt has exceeded the Statute of Limitations according to California State Law (code #) and that your claim on this debt is INVALID.

You are hereby ordered to CEASE and DECIST any and all efforts involved in the collection of this invalid debt. In addition, you must remove the listing of this invalid debt with the recognized credit bureaus immediately, removing the invalid debt from my credit report. Failure to do so will make you liable for possible lawsuits for damage to my credit record and filing fraudulent claims.

if you continue attempting to collect on this invalid debt, i demand that you mail to me within 30 days, any associated debt verification, legal judgements as well as name and address of the original creditor. Failure to do so will mean that you have withdrawn your claim on this invalid debt and that every effort is being made to remove the debt from my credit report.

any future contact will be conducted in writing.


sincerely,
mr. so and so

[yanni72]

Send them a Validation letter. Not a verification letter but a DV letter. Make them prove that you owe the debt. If it is purchased debt then chances are they will not be able to come up with the information needed to validate the debt.

If they do not validate the debt it is illegal for them to collect, it is illegal for them to continue contacting you, and it is illegal for them to continue reporting you to the CRA's and can be fined $1,000 per incident.

[Ladynred]

You don't need a validation letter, the Cease and Desist is ALL you need to do -- tell them to pound sand, the debt is time-barred.

Further, if they have put a debt on your reports that is PAST the 7-1/2 year reporting period, they are violation the FCRA by probably illegally re-aging the debt - a favorite tactic of ASSet's. Collections can NOT survive the obsolescence of the ORIGINAL debt. That is because the Date of Last activity (or first delinquency) can NOT be changed - not legally.

You need to dispute this with the credit bureaus as obsolete and illegally re-aged.

[Breckbuster]

I'm in PA

This is a question for LadynRed if your following this thread still. That was very interesting what you said about collection companies "re-aging" old expired debt. By reporting these delinquincies to the credit bureaus they are trying to extort payment by threatning to destroy your fico just as it's starting to get better!

My question is about student loan debt. While they cannot be (easily) discharged through bankruptcy,
1) Is there a statutory period when they become "uncollectible"
2) How does FCRA apply to collection agencies who keep "re-aging" this type of debt. (with reguards to reporting?)??

Any thoughts?

[Ladynred]

You're absolutely right, illegally re-aging an old obsolete debt IS an attempt at extortion. Unfortunately, far too many people don't DO anything to make them stop, so they keep getting away with it.

1) Is there a statutory period when they become "uncollectible"

No, the damn things can follow you right to your grave.

2) How does FCRA apply to collection agencies who keep "re-aging" this type of debt. (with reguards to reporting?)??

The date of first delinquency that determines the start of the reporting period can NOT be changed - not by anyone, not legally. No matter what' they're collecting, re-aging is still illegal and should be treated the same as any other re-aged debt. Dispute it.