brokeinok Posted September 8, 2007 Report Share Posted September 8, 2007 In reading through posts, I keep coming across this term but can never truly determine what it means based on content in the post.Anyone? Link to comment Share on other sites More sharing options...
Freak Posted September 8, 2007 Report Share Posted September 8, 2007 The way I understand it, is that a creditor has stated, and you have agreed either verbally or in writing, that you owe a that specific amount of money. I also believe I remember reading that it affects the SOL in some manner.I am sure someone with more insight will clear that up, but that is the way I understand it in bumper sticker form. Link to comment Share on other sites More sharing options...
divemedic Posted September 8, 2007 Report Share Posted September 8, 2007 Account stated essentially means that they billed you, you didn't dispute, so that means you owe the money.The problem here is that account stated does not work for debt collectors, because it is expressly prohibited by the FDCPA.© The failure of a consumer to dispute the validity of a debt under this section may not be construed by any court as an admission of liability by the consumer. Link to comment Share on other sites More sharing options...
brokeinok Posted September 9, 2007 Author Report Share Posted September 9, 2007 Ahhhhhh.... (visualize lightbulb over head)I'm assuming that CA's try this tactic alot hoping no one will notice? Link to comment Share on other sites More sharing options...
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