Re-Aging & Lawuit

[lmlee]

What is the name of your state? Maryland
I actually have 2 separate questions:

The first one is regarding re-aging a debt. I had a credit card that had been charged off in January 2006. It also showed it being 150 days late as of December 2005. When does the SOL start to run? Another company bought the debt, and on my credit report it shows as a new debt, opened in April 2008. I thought that that was illegal?

Also, on March 17 I received a letter regarding a different charge card from Pasadena Collections, giving me a settlement offer of 60% if paid within 30 days. I was waiting for my IRS check and was going to pay that off. However, yesterday I received another letter from them stating that the District Ct assigned a number. I went online and saw that they filed a lawsuit April 3, and that notice was sent out the following day. I haven't received a summons or anything in the mail from the court, the court date is June something. When I called the collection agency and asked why I wasn't given the 30 days to pay, they said they always file lawsuit regardless. I'm not planning on disputing it, I still intend to pay that next week. Since this will be paid well before the court date, will that still show up on my credit? Will it still be a part of the courthouse records?

[debtcollector`]

Originally Posted by lmlee

What is the name of your state? Maryland
I actually have 2 separate questions:

The first one is regarding re-aging a debt. I had a credit card that had been charged off in January 2006. It also showed it being 150 days late as of December 2005. When does the SOL start to run? Another company bought the debt, and on my credit report it shows as a new debt, opened in April 2008. I thought that that was illegal?

That date isn't re-aging of the account. That is when the CA acquired the account. The way credit bureaus display that data causes a lot of confusion.

Originally Posted by lmlee

Also, on March 17 I received a letter regarding a different charge card from Pasadena Collections, giving me a settlement offer of 60% if paid within 30 days. I was waiting for my IRS check and was going to pay that off. However, yesterday I received another letter from them stating that the District Ct assigned a number. I went online and saw that they filed a lawsuit April 3, and that notice was sent out the following day. I haven't received a summons or anything in the mail from the court, the court date is June something. When I called the collection agency and asked why I wasn't given the 30 days to pay, they said they always file lawsuit regardless. I'm not planning on disputing it, I still intend to pay that next week. Since this will be paid well before the court date, will that still show up on my credit? Will it still be a part of the courthouse records?

If the debt is paid prior to court, you will not have a judgment on file. It will still show as "Settled for less than the full amount"

DC