MysticalMan Posted November 24, 2004 Report Share Posted November 24, 2004 I have a question I have not been able to answer 100% through research and need a bit of help.I am working on a bad check that I just found on my credit report.The amount of the check is for 12.00.I send the collection agency reporting the collection a DV letter and they sent me back a photocopy of the check to prove that I wrote the check.Now my question is this:I found the SOL on bad checks on CO is 3 years. The check was written on 10/26/01.I called them to see what they would settle for and was told the check when through their legal dept and now wants 350.00 but would take 200.00. The origional balance was 52.00 on the DV letter they sent me.Now my question is if it is passed the SOL can they still actively try and collect on it or should I just ignore it and file suite to have it removed from my CR.Now my next question, is their a limit to the ammount they are able to charge? I found something that said 8% legal fees but was not sure if that was the maximum.Any help is appreciated thanks!! Link to comment Share on other sites More sharing options...
DocDon Posted November 24, 2004 Report Share Posted November 24, 2004 $350 for a $12 check? Yeh, right. It's out of SOL, tell them to buzz off.SOL is your defense, so if they insist on trying to extort money from you by reporting this to the CRA's, tell them it's out of SOL, they know the SOL (it's their business to know), and you won't tollerate their behavior. If they do not delete the information, they will be reported to the appropriate agencies.... (the FTC and their state Attorney General). Link to comment Share on other sites More sharing options...
MysticalMan Posted November 24, 2004 Author Report Share Posted November 24, 2004 Hey Doc, thanks so much for the quick response. I have no problem paying 12.00 for the bounced check plus the state appropriated fee's of 40.00. What would be a good course of action to take?Send C&D letter to CA that outlines the SOL of 3 years, and dispute TL with CR?Thanks in advance.. Link to comment Share on other sites More sharing options...
DocDon Posted November 24, 2004 Report Share Posted November 24, 2004 I wouldn't have a problem with that either. For $350, I'll wash my butt so they can kiss it.Send the CA the quote that shows the 3-year SOL on checks. You can also try to settle this issue with the company you wrote the original check out to and have them recall and delete the collection. Link to comment Share on other sites More sharing options...
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