7-1/2 year old foreclosure

[vmcgrath]

What is the name of your state? California

I had my home foreclosed back in Sept 1997. There was a 2nd on the property. I just recently have had a company calling saying they purchased the contract from the company who had the original 2nd. This new company is now saying they intend to collect. What are my rights? Can they do this. Is there a SOL? I had not heard anything from the original company in the last 7.5 years**************.

[Some Random Guy]

It sounds like your old debt was bought up for pennies on the dollar (or less) by one of these "aggressive collections" companies. Even though the statute of limitations on your debt has expired years ago in CA, they will hound you at home and work and threaten you with lawsuits unless you pay them NOW!

Your best bet is to read up on the Fair Debt Collection Practices Act, and send them letters ASAP letting them know that you will not be giving them money that you no longer owe, and that if they violate Federal law in trying to collect money, you will report them.

The first links from googling ' credit collection "statute of limitations" ' are shown below. They seem right on topic.

www. bcsalliance. com/y_debt_sol.html
www. bcsalliance. com/y_fairdebtcollectiona.html

[vmcgrath]

Thanks for your response.... I will check into it..... Thinking I will also change phone numbers, etc......