Will I be sued ever?

[AdviceFreeUser]

What is the name of your state (only U.S. law)? Texas.

Hi, I am in Texas and my last payment on any of my Credit Cards were in Spring of 2004. I now get about like 1 call a month from one of the collection agencies and 1 letter about every 3 months from one of the CA's.

What are the chances I will be sued? I did apply for a CC back in 2007 which was approved for $300 (now have a $800 by request) and have a flawless history with full payments every month. I do have to pay a $5 a month service fee.

 

[bigun]

Nobody can say with any degree of certainity if or when anyone will get sued.

The SOL has run on these debts in Tx. If you do get sued, you need to raise the SOL defense in court.

 

[AdviceFreeUser]

Nobody can say with any degree of certainity if or when anyone will get sued.

The SOL has run on these debts in Tx. If you do get sued, you need to raise the SOL defense in court.

So the 4 years has passed?

What happens when one of the CA accounts get sold to another CA? Does this mean SOL restarts?

 

[AdviceFreeUser]

Will my negative accounts disapear after 7 years in the credit report?

 

[bigun]

Debts bought and sold between collection agencies have nothing to do with restarting the SOL.
Yes, chargeoffs should fall off after 7 years.

 

[AdviceFreeUser]

Debts bought and sold between collection agencies have nothing to do with restarting the SOL.
Yes, chargeoffs should fall off after 7 years.

I may still be getting calls and letters after 7 years even though it may not be on my credit record?

When they start to go off my record, my credit score improves and lenders have no idea about my past?

 

[bigun]

I may still be getting calls and letters after 7 years even though it may not be on my credit record?

When they start to go off my record, my credit score improves and lenders have no idea about my past?

They can try and collect forever if they like. If they sue, you have an affirmative defense available to you.
I don't know much about credit scoring. Try Free Credit Reports Credit Repair Counseling Increase Your Credit Score Debt Consolidation or CreditBoards.com - Credit Help, Credit Repair Tips, News, Forums for questions like that.

 

[AdviceFreeUser]

This means I probably should not spend the money if I were to get sued?

On the credit report where can I tell the SOL had begun?

 

[bigun]

What do you mean "not spend the money " if you get sued? What money?

Your credit report should show a date of first deliquency/default in the listing by the orginal creditor. In other words, when you were first 30 days late and never recovered.

 

[AdviceFreeUser]

What do you mean "not spend the money " if you get sued? What money?

Your credit report should show a date of first deliquency/default in the listing by the orginal creditor. In other words, when you were first 30 days late and never recovered.

To spend the money on a lawyer since I have the SOL defense?

What about when the original creditor sells the account to a CA? There is a no new date on there.

 

[bigun]

The SOL begins when, you went into continous default. You said it was the spring of 04. Look for a date in that time period from where the orginal creditor starting posting late payments.
I can't tell you if you need a lawyer or not. Depends on how confident you feel in representing yourself.

 

[AdviceFreeUser]

The SOL begins when, you went into continous default. You said it was the spring of 04. Look for a date in that time period from where the orginal creditor starting posting late payments.
I can't tell you if you need a lawyer or not. Depends on how confident you feel in representing yourself.

The listings should be removed after 7 years from all 3 Bureus right and that includes the CA they sold it to?

 

[TigerD]

7 years plus 180 days.

DC

 

[bigun]

7 years plus 180 days.

DC

Yep, Here's a FTC staff opinion letter.

FCRA Staff Opinion: Brinckerhoff-Johnaon

Thus, Congress intended to establish a date certain -- the start of the delinquency -- to begin the obsolescence period (now seven years, plus 180 days).(2) The alternate view stated to you (that the date of reporting controls) is at variance with both the plain language of these amendments, and the intent of Congress in enacting them.

 

[AdviceFreeUser]

7 years plus 180 days.

DC

So why the 6 months extra and what if they don't remove it?