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7 year sol


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An account of mine has been charged off/reached the 7 year statue of limitation and is no longer being reported to credit bureaus, but I received a collection letter in the mail recently for it....I'm assuming from the new ca that bought it?? This sound right? Will they start re-reporting it once a new ca has bought it, even after the 7 year sol?

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It is my understanding that just because the sol on the debt and the reporting period has expired, simply means that you can't legally be sued for it and it can no longer be reported....however, technically the debt is still owed....forever and attempts at collection can be made.

Does the sol and reporting period start all over once the debt is repurchased....NO so tell the JDB to pound sand...literally

Hope that helps

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send this letter to the new creditor, certfield mail!!!! good luck!

Date: December 17, 2006

Re: Acct # XXXXXXX

To Whom It May Concern:

This letter is being sent to you in response to a notice sent to me on (December 1, 2006). Be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (B) that your claim is disputed and validation is requested.

This is NOT a request for “verification” or proof of my mailing address, but a request for VALIDATION made pursuant to the above named Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.

Please provide me with the following:

What the money you say I owe is for;

Explain and show me how you calculated what you say I owe;

Provide me with copies of any papers that show I agreed to pay what you say I owe;

Provide a verification or copy of any judgment if applicable;

Identify the original creditor;

Prove the Statute of Limitations has not expired on this account

Show me that you are licensed to collect in my state

Provide me with your license numbers and Registered Agent

At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major Credit Bureau’s (Equifax, Experian or TransUnion) this action might constitute fraud under both Federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent I will not hesitate in bringing legal action against you for the following:

Violation of the Fair Credit Reporting Act

Violation of the Fair Debt Collection Practices Act

Defamation of Character

If your offices are able to provide the proper documentation as requested in the following Declaration, I will require at least 30 days to investigate this information and during such time all collection activity must cease and desist.

Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes any listing any information to a credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is.

If your offices fail to respond to this validation request within 30 days from the date of your receipt, all references to this account must be deleted and completely removed from my credit file and a copy of such deletion request shall be sent to me immediately.

I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment. If your offices attempt telephone communication with me, including but not limited to computer generated calls and calls or correspondence sent to or with any third parties, it will be considered harassment and I will have no choice but to file suit. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.

It would be advisable that you assure that your records are in order before I am forced to take legal action. This is an attempt to correct your records, any information obtained shall be used for that purpose.

Best Regards,

your name,

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There are two seperate and completely distinct limitations periods.

The state statute of limitations which creates a time limit for bringing a lawsuit for a particular cause of action. It varies by state.

A federal statute of limitations which governs how long a negative item can be left on your credit report.

The expiration of one has nothing to do with the other.

The expiration of one or both has nothing to do with non litigation collection activities (except in Mississippi, Wisconsin and maybe North Carolina). Just because they can't sue you doesn't mean they can't send you letters telling you to pay.

I prefer the AoC abbreviations.

SOLC = statute of limitations on collections IE lawsuits.

TLR = time limit on reporting (the 7 year rule).

Things would go much smoother if we pushed that distinction instead of calling everything "SOL".

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There is a chance they can validate information that I owe this open account, but is there some law that says they must stop making attempts to collect even though the sol/trl are expired? That's really my concern. I can deal with letters, and they haven't started any phone calls, but I would like to be prepared for that also in case it ever gets to that.

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The reason why I said send that letter because I was in the same situation and new creditor was trying to collect for a debt for a car $6000.00 that I been had removed off my credit report. (the car was a lemon) a true nightmare. I sent that letter certifield mail. They sent me a letter stating they would never bother me again. Nothing never posted on my credit report. This letter work for me a plus save me $6000.00. I just thought i share the letter with you.

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