OC collecting after settlement

[fivehua]

What is the name of your state? Texas

I settled a debt with USAA 2 years ago. I have a letter from them saying if I paid the agreed on amount they would forgive the remaining amount. Last week I received a letter from them saying I still owed the balance. Is this legal? Any recommendations?

 

[Fizzle1979]

What is the name of your state? Texas

I settled a debt with USAA 2 years ago. I have a letter from them saying if I paid the agreed on amount they would forgive the remaining amount. Last week I received a letter from them saying I still owed the balance. Is this legal? Any recommendations?

When you say settled what do you mean? Did you get this in writing? Usually, you owe a debt until it's paid for. Give me some more information regarding the settlement.

I am assuming USAA is a credit card company?

In some states, not sure if Texas is one of them, once you default (stop making payments) on the credit card agreement, the STATUE OF LIMITATIONS kicks in. Texas has a four year SOL. Some states have laws that say the SOL appies to the original delinquency and any payments after that do not apply. Then some states have laws that say every payment resets the SOL. You need to research SOL for Texas.

 

[draygnmage]

All you need to get them to go away is a copy of that letter offering the settlement and copy of the cancelled check showing it was cashed before the due date of the settlement. It may cost you a couple bucks, but you can get the cancelled check from your bank. Make sure its a copy of the front and back. There's no need to dip into SOL if you can just prove you settled.

 

[ecmst12]

Some states have laws that say the SOL appies to the original delinquency and any payments after that do not apply.

Name ONE state where the statute of limitations works that way.