is there a scam going around now trying to collect old credit card debt?

[ppj0920]

What is the name of your state? North Carolina
my nephew was contacted last night from someone who said he represented a credit card company that he owed money to 16 years ago!!!!!!!! and that he had to pay that debt off or he would turn his name over to a collections agency. my nephew has already gone through 7 years of bad credit (this happened when he was 20-22 years old) and he has established good credit now (rating of 780) (he is 36). hasn't the statute of limitations expired on this so-called credit card? could this be a new scam in the works? please advise.

 

[fjcook]

My Google search found:

Know Your Rights!

Most debts can only be reported on your credit report for seven years, counting from the date of delinquency (usually a few months after your last payment). The date of delinquency does not change, no matter how many times your debt is bought and sold. The debt collector or debt buyer has a legal obligation to report the true date of delinquency to the credit reporting agencies. Some debt collectors and debt buyers report the date they received the debt instead of the true date of delinquency. This process is called "re-aging," and it is illegal! It will cause your debt to stay on your credit report longer than it should! You have the right to dispute "re-aged" debt in your credit report.

Hope this helps

 

[Debt Guy]

The statute of limitations has expired in NC. However, that is not a bar to collection activity or even to filing a lawsuit. OOS is only an affirmative defense to a lawsuit.

What that means is:

1. They can call and ask for money.
2. They can turn it over to a collection agency who can call and ask for money.
3. They cannot legally report the debt to a credit reporting agency.
4. They can file a lawsuit -- if they do you must file the proper response and say the debt is time-barred, in which case the judge will toss the suit.

Or ...

.. get the name and address of company who called. Send a letter certified mail return receipt. Just say "I dispute this debt" and "this debt is time barred under the laws of NC" and "cease and desist all contact with me".

Like magic, it should go away.

However, just because the debt is old and your friend has cleaned up his act -- none of that means that he does not still owe the debt. So, you have a choice. You can make either a morally correct decision or a legally correct decision. You cannot do both.

 

[TigerD]

So, you have a choice. You can make either a morally correct decision or a legally correct decision. You cannot do both.

Well said

DC

 

[Ladynred]

Just as easy.. send the collection agency a cease and desist letter and tell the to get stuffed, the debt is long, long past the SOL of 3 years for NC. While the expiration of the SOL won't stop them from TRYING to collect, or even suing, it WILL stop a lawsuit IF they go that route. They're just hoping he will be intimidated enough to pay them for something they paid a fraction of a penny/ dollar for and they make a HUGE profit. For a zombie debt like this, I'd tell them to get lost. Or, he can demand validation and make them cough up a shred of proof that the debt is even valid.