old debt

[Dan10]

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

Back in 2006 I had a checking account with First International Bank in Grand Prairie, TX. When I left my account was overdrawn around 300 dollars.

I've been waiting a long time to here something from a collection agency regarding this matter and finally, I got an automated call to my house asking me to press "9" to speak with a rep. I spoke with a woman who's name I didn't get. I didn't even think to ask for their phone number. Anyway, they told me this debt is up to 780 dollars including interest. Apparently the district attorney is involved (or will be involved) because "DA" was mentioned. I can't tell if this is a law firm or a collection agency.

They told me I am going to have to go to court unless I give them a settlement amount of 530 dollars immediately, or make three payments of 260 dollars. I told them I could make payments but I can't start the payments until this coming December. The lady persisted in trying to get me to pay something this month. She made it sound like if I don't pay something this month then all hell is going to break loose. All of her sentences were vaguely-worded, probably to try to scare me. I told her, AGAIN, that I could not send anything to her until December and she said she's going to speak with her attorneys about it and contact me again within 24 hours. Of course, it's been 24 hours and I haven't heard anything back from them.

Any advice on how to proceed with this would be appreciated.

 

[Dan10]

If I don't give these people money this month is the $780 bill going to go up to compensate for lawyer fees in court ? How much money in lawyer fees would this be, approximately?

Could anyone give me some insight as to what to expect if I don't give these people some money, THIS month ?


Why haven't they called me back within "24 hours" like they said they would? Are they playing some kind of fear mongering game with me?

 

[OHRoadwarrior]

The answer is we do not have enough info to answer with certainty. Since you moved out of state, it is likely they attempted to bring suit at an address in TX, however did not find you. That would toll the debt beyond the initial TX 4 year statute of limitations.

 

[justalayman]

The answer is we do not have enough info to answer with certainty. Since you moved out of state, it is likely they attempted to bring suit at an address in TX, however did not find you. That would toll the debt beyond the initial TX 4 year statute of limitations.

but California has a borrowing statute that states the sol is no greater than the original states sol.

When a cause of action has arisen in another state, or in a foreign country, and by the laws thereof an action thereon cannot there be maintained against a person by reason of the lapse of time, an action thereon shall not be maintained against him in this state, except in favor of one who has been a citizen of this state, and who has held the cause of action from the time it accrued

That means this is beyond the sol IF this were simply a debt. It may not be. It may have become a criminal matter. I suggest the OP investigate that possibility

 

[Dan10]

The lady mentioned that my bank account at First International Bank was overdrawn because of a check I wrote to a pay day loan company. The pay day loan company deposited a check I wrote to them because I didn't go in and repay the loan. The bank paid the check when it was deposited into my account, apparently, and it overdrew my account, I don't remember exactly what happened.

If this was a criminal matter, why would they prompt me for payment so badly? They actually offered to "settle" for around 540 dollars if I paid the account immediately. I told them I won't have any money until next month because I'm on a budget, although I did agree to start a payment plan on their terms, for three payments of $260. What is it with these people? They can't wait two weeks ? The lady was very pushy. She insisted that I make a payment THIS month.

 

[mmmagique]

The lady mentioned that my bank account at First International Bank was overdrawn because of a check I wrote to a pay day loan company. The pay day loan company deposited a check I wrote to them because I didn't go in and repay the loan. The bank paid the check when it was deposited into my account, apparently, and it overdrew my account, I don't remember exactly what happened.

If this was a criminal matter, why would they prompt me for payment so badly? They actually offered to "settle" for around 540 dollars if I paid the account immediately. I told them I won't have any money until next month because I'm on a budget, although I did agree to start a payment plan on their terms, for three payments of $260. What is it with these people? They can't wait two weeks ? The lady was very pushy. She insisted that I make a payment THIS month.

Since this is the first you have heard of the debt, send them a simple debt validation letter. Let them prove that they own the debt, and that you owe it. Something like, "Dear company, I spoke to one of your representatives the other day regarding a debt you claim I owe. Please send me validation pursuant to the FDCPA. Thank you, you"

Do not talk to them on the phone any more, and do not send them any money until they have properly validated. The reason she *probably* wants you to hurry up and pay something is *if* you are beyond the statute of limitations for filing suit, you will restart it, when you make even a $1.00 payment.

 

[Dan10]

Wow. That's amazing. A little bit of knowledge goes a long way. I feel much more at ease now. That's probably what the lady was trying to do, to get me to restart the SOL!

How clever. They use words like "district attorney", "private attorney", "court" all to try to scare you. It doesn't make any sense that they should HAVE there money so quickly. I was totally trying to cooperate with them and give them what they wanted, too!

The only thing I'm concerned about at this point is the debt going on my credit report, I've been trying to rebuild my credit for a while. If they call back, I will be sure to get them to send me documentation of who they are before I send them any money, and I will be sure to get a payment agreement in writing before sending money.



thx

 

[mmmagique]

If they can't validate, the "can't" put it on your credit report. However, validation requirements are laughably low.

They can put it on your credit report, (as can the original creditor as well) for up to seven years plus 180 days from the date of first delinquency. (the date you started missing payments and never got caught back up...in your case, it's probably the date your account was overdrawn, and you never got it caught back up.)

So if your debt is four years old exactly today, it can be on for another 3 years plus 180 days.

You could *possibly* negotiate a settlement with the creditor for anywhere from 20 to 100 percent of the debt, (depending on how desperate they think you are to settle it) before they report, then it will not go on. If you pay it after it's on the report, it stays on, unless the company nicely lets you dispute it and doesn't re-confirm.

 

[Dan10]

Apparently the original creditor, First International Bank, went out of business in 2011, so it would be virtually impossible to settle the account with them.

 

[mmmagique]

Apparently the original creditor, First International Bank, went out of business in 2011, so it would be virtually impossible to settle the account with them.

But it would not be impossible at all to settle a debt with the current creditor (collector)

OP, I forgot to tell you to send all your correspondance certified mail, return receipt requested. (cmrrr) So when they say you never sent them a dv letter, you can at least prove you sent them "something."

 

[Ohiogal]

So you are on here spelling out the fact that you committed a crime? Really?

 

[Dan10]

So you are on here spelling out the fact that you committed a crime? Really?

I don't care if you are a senior member and have a lot of posts. I'm inclined to proclaim TROLL.

Your comment is in no way helpful and is instigative.