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Can a CA legally collect for out of business OC?


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I have a 6 1/2 year old collection on my Equifax report. The OC is an apartment complex that has either been sold to another management company or no longer uses the same managment company, not sure how that works. They no longer go by the same name as stated on my credit report either. The CA continues to report the collection on my file, naming the old apt. complex as OC. They have sent me collection notices and called at work also. The CA has also only been assigned to this account. Is it legal for them to attempt collection and report this on my file if the OC is no longer around? I posted the full story about this in the collections forum but thought I would see if anyone has a legal opinion about it also. If anyone could help I would reeeaaaaallly appreciate it!!!!!

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I have a 6 1/2 year old collection on my Equifax report. The OC is an apartment complex that has either been sold to another management company or no longer uses the same managment company, not sure how that works.

I responded in part to your post in the collections forum!

It is possible that the company that managed the apartment complex when you lived there has sold its interest in the property but that does not necessarily release you from obligations incurred to them. Providian recently completed negotiations for the sale of most of its subprime credit card/banking business, does that mean that all of those former customers are no longer obligated to pay their credit card bill?

Keep in mind that in terms of the sale of a something like a business or commercial property such as an apartment complex, the prospective owners conduct "due diligence" in order to determine all assets and liabilities (delinquent accounts receivables are a business liability), because the new owners are usually required to accept responsibility for such assets and liabilities when the sale is completed. That means that depending on the laws in the state of Florida, the new owners more than likely are still entitled to collect on the amounts they claim are in arrears.

Seeing as you live in Florida and seem to be aware that the SOL for written contracts is 5-years, then what is the problem? If left to age, the account will drop off your credit report in another 6-7 months but personaly I think you are being a lttile bit too passive. First, as far as the collection agency is concerned, it is time for an Intent to Sue letter with regards to continued collection activity on an untenable (time-barred) debt! As for the apartment complex, property management company, read my post in the collection forum - if it can be proven that the OC has failed to properly comply with the Florida statues, then an attorney may be able to compel the new management company to recall the account from the CA to which it was assigned meaning that the CA will have to remove the TL!

Michael

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First, as far as the collection agency is concerned, it is time for an Intent to Sue letter with regards to continued collection activity on an untenable (time-barred) debt!

SOL has to do with the amount of time they can take legal action to collect on the debt. It doesn't have anything to do with the running of the reporting period.

Please only post the same question in one forum, most people visit all forums and it's too confusing to jump through all the forum to get the entire scoop, please see this post http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=3917

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I just got done replying to your other post too!

I was going to wait for this to drop off my file but can't bear to rent much longer. I thought it would be worth it to attempt to get this deleted sooner rather than wait that long. I will do the ITS letter next. Would it be wise to list all their violations in that letter?

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