Old Debt/Credit Report

[Illinois Parent]

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

I have looked thru the posts/boards, but have not found an answer, so, please help.

I have discovered by reading these boards that the SoL for Il is 5 years for debts. I have a coupld old debts, all medical, that is over 5 years old on my credit report. How long will this show up on my credit report and how do I get it removed? Most of it has been paid, albeit late, but it is satisfied. How long does it take for this stuff to go away?

I also have two credit card debts showing up, one completely erroneous from a now defunct company (Service Merchandise) from 1989. I have challenged this one, had it 'removed', then had it reappear under some attorney/debt collector, who states they have bought this old debt and because I can't prove it was never valid to begin with, I have to pay them, the collection attorney over $2500.00 for the original debt plus interest. This is at least the 3rd collection agency to contact me about this debt. Each time, I tell them that the SoL has expired, they cannot and will not get a penny from me and to stop contacting me. A few months or so go by, and then I am contacting again, about the same debt, from a NEW attorney/collection agency. How do I stop this?

I have a 2nd supposed credit card debt from Capitol One, also now taken over by another attorney/collector, with a supposed balance of over $4000.00 for the original debt plus interest. I had a Capitol One credit card in 1997, charged just about $100.00, PAID it and CLOSED it in 2001. My understanding from these boards is that even if it were UNPAID, it is no longer a valid debt due to the SoL and to stop contacting me.

I have sent letters each time I am contacted, disputing the validity of the debt as well as pointing out the SoL, yet, I keep getting contacted again and again by new firms. What can I do to stop this permanently?

I found out recently that my credit score has been hit very hard because of all this, and I am trying to straighten it out so I can get a new car without getting shafted with a ridiculous interest rate. I also was just informed, while shopping for car insurance, that I cannot get the best rates because of my credit rating. I don't understand how that applies, as I have never had an accident, an insurance claim or a moving violation in my life. I do still have some minor debt, again all medical, but it is not on my credit report as it is being paid directly to the provider. I pay my bills, always have, have never been late on a car payment or mortgage or utility, and got into trouble 7 years ago because of serious medical problems (thank God, now resolved).

I know this is a lot, but answers/help would be most appreciated.

 

[Illinois Parent]

just bringing this to the top...I really need help! Please, someone respone?!?!

 

[JETX]

I have discovered by reading these boards that the SoL for Il is 5 years for debts. I have a coupld old debts, all medical, that is over 5 years old on my credit report. How long will this show up on my credit report

You're confusing your states limitation on actions versus the FEDERAL (FCRA) limitation on credit reporting.

The FCRA limits reporting to:
§ 605. Requirements relating to information contained in consumer reports
(a) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:
(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be,antedate the report by more than 10 years.
(2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period.
(3) Paid tax liens which, from date of payment, antedate the report by more than seven years.
(4) Accounts placed for collection or charged to profit and loss which antedate the report by more than seven years.
(5) Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years.

and how do I get it removed?

Until it expires (see above), you don't.

I also have two credit card debts showing up, one completely erroneous from a now defunct company (Service Merchandise) from 1989. I have challenged this one, had it 'removed', then had it reappear under some attorney/debt collector, who states they have bought this old debt and because I can't prove it was never valid to begin with, I have to pay them, the collection attorney over $2500.00 for the original debt plus interest.

They can try to collect on an old debt forever. Don't fall for it. They have NO legal right to force your payment of a debt that expired by your state SOL.

This is at least the 3rd collection agency to contact me about this debt. Each time, I tell them that the SoL has expired, they cannot and will not get a penny from me and to stop contacting me. A few months or so go by, and then I am contacting again, about the same debt, from a NEW attorney/collection agency. How do I stop this?

Again, you can't. The owner of the debt or their agent has the right to pursue payment but has no legal right to force payment. Be proactive. Send each and every one a 'Cease and desist' letter.

 

[Illinois Parent]

JETX, thank you for your response, this was the information I was looking for. Since there is nothing 'new' bad on my credit report, at least nothing newer than 6 years, I actually may not have too much longer to go to be able to make this all go away and clean up my credit report. Thank you again.