sold my account from 2001

[tina]

Hi,

I live in florida nad had a credit card debt from 2001 that was sold to midland credit. It has now been sold to True logic in Colorado. I was going to settle on this debt but after reading up on the laws and such, I was wondering if Midland was allowed to sellthis debt after so long in order to have another comapny start the time frame for collecting start all over again?

[Southerngirl]

If I'm not mistaken the CA can sell your debt whenever they want. As long as the debt has not been paid it can go from CA to CA indefinently. Now, the

sol does not change when a CA sells to another CA, but sol does not stop collection activity. SOL is a defense in case of a law suit, most CA when told the debt is out of sol will usually go away. Sometimes a ca will sue even out of sol because they are going for a default judgement. There are alot of consumers that don't know their rights and will just not fight back. I hope this answers your question.

[lookinup]

They can sell until the end of time.

Have you talked to these people on the phone? Admitted the debt as yours? Are they showing on your credit report?

You can read up on here on the debt validation (DV) process. Or, if you are sure these accounts are past the statute of limitations, you could tell the collector so in a letter and tell them to stop contacting you.