Laxlacks

No, I am not 100% sure. My assumption they dont is based on; that I have never heard anything about one or the possibility of one, I was able to get a car loan with a very good interest rate recently, its off my credit report, and if there was a judgement they would be able to garnish wages and/or bank accounts, neither have been done. Is there a way to find out if there is a judgement against me? I have sent my FOAD letter CMRRR yesterday. I plan to keep a close eye on my credit reports for the next few months.

I purchased a car financed through Chrysler Financial in Oct/1999. In the following year I had a bunch of financial trouble (job injury), so in Nov/2000 I opted to give the car back since I was unable to make the payments. Last payment was Nov/2000. Of course this went to collection and on my credit report. I have not been in a position to repay the debt and Palisades refused partial payments. They flat out returned my checks. So I gave up paying for the debt. I checked my credit reports yearly. Date of last activity is Nov/2000. Date removed from credit reports April/2007. Both 2008 and 2009 credit reports do not show this debt. All three credit reports are perfect with positive creditors and open current accounts. About a week ago I recieved a letter from FMS Services trying to collect this debt for Palisades Collection Inc. I hadnt responded to the letter, researching my options, since I hadnt heard anything for a couple years now. This morning FMS called me, waking me up, so half asleep they verified my ID and want to make payment arrangements. I did acknowledge the debt, I know I shouldnt have but I didnt learn that until after the phone call and visiting this board. I did exhaustive search and melting my eyes trying to read legal-ese and what I could find is in Oregon to re-age the debt I would have to pay something. (to my understanding) Its also my understanding that if I pay if off, if could re-appear on my credit report, thus having negative impact. I dont have an objection to paying it now but I do not want to affect my credit, I am trying to buy a house. The SOL in Oregon is 6 yrs, so I am well pasted that. Yes I understand they can attempt to sue but (again my understanding) that under fair credit laws they can not legally do so and if they do I could try the SOL defense. My plan is to send them a certified letter with return receipt stating cease and desist all contact and that this debt is passed the SOL. Also to send a letter to the credit reporting agencies stating the debt is past Oregon's SOL(6years) and the debt reporting SOL (7years) Again this is just my understanding of what I have read today. I could be and probably am wrong. Am I handling this in the correct manner? Any things I should or shouldnt do? Is sending a C&D letter based on SOL expired an appropriate action? Recap: Last Date of Activity on Acct is Nov/2000 SOL in Oregon is 6 years. Debt in NOT on my credit report for the last 2 years. I have a clean credit report.