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loan back in 1996?


fhank
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ok guys need your help. recently I pulled my credit report. I notice that B&D loan company decided to put a loan back on my credit dated back to 96. I sent a validation letter and they called me to let me know they got my letter and that I do owe this debt. Which I dont remember this loan. But they vertified my information and everything. Im supposed to pick up the information. My question is can they still collect after all this time?

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ok guys need your help. recently I pulled my credit report. I notice that B&D loan company decided to put a loan back on my credit dated back to 96. I sent a validation letter and they called me to let me know they got my letter and that I do owe this debt. Which I dont remember this loan. But they vertified my information and everything. Im supposed to pick up the information. My question is can they still collect after all this time?

Maybe...maybe not.

When (at least approximately) did you make your last payment on this loan if ever (what I'm trying to get at is when did the SOL clock start ticking)?

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Then unless you've done something to toll the SOL, this would almost certainly have to be out of statute for Oklahoma (meaning that if they sued you, you would have a very good "affirmative" defense).

Further, this thing has absolutely NO business being on your credit report...the reporting period would have ended sometime in 2003 if the loan originated in 1996.

At the very least, I'd demand they remove this from your CR immediately and then you can tell them what to go do with themselves as far as the debt goes. You may also have a good case against them under the FCRA for listing a debt they had to have known was well past the allowable reporting period.

I do wonder, however, how you could have a loan you no nothing about...if that's so then this whole thing could be a scam.

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Aw heck, just sue them for the FDCPA violation and see what happen. Since the debt is most likely OOS you can raise that as a defense if they are stupid enough to sue on the debt, at which point you counter-counterclaim for the FDCPA violation of suing on an OOS debt.

This could be a LOT of fun.

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Aw heck, just sue them for the FDCPA violation and see what happen. Since the debt is most likely OOS you can raise that as a defense if they are stupid enough to sue on the debt, at which point you counter-counterclaim for the FDCPA violation of suing on an OOS debt.

This could be a LOT of fun.

I knew you would have something to say about this one. :)

Does the OP have a private right of action under the FCRA? It seems to me somebody screwed the pooch big time to have this listed on the CR...either the JDB re-aged the debt or the bureau simply let it pass whatever filters they have (if any) to keep debts this old off a consumer's report.

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Putting an OOS debt under FCRA on a CRA is also a FDCPA violation - mis-stating the legal characterof the debt (in this case as being in-Stat for Credit Reporting).

Suie under both theories of law and let the Judge sort it out

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Putting an OOS debt under FCRA on a CRA is also a FDCPA violation - mis-stating the legal characterof the debt (in this case as being in-Stat for Credit Reporting).

Suie under both theories of law and let the Judge sort it out

I was thinking that FCRA violations are more "valuable" to the consumer (in terms of award) but I may be mistaken about that...that's why I was wondering if it would be better to pursue the violation of the FCRA incited of the FDCPA - never really thought about pursuing both simultaneously.

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All of you have good points. But what do you think I should do? Like I said they had info. like my ss#, ex-husband info. last known address and every thing. The debt is only $60.00, but would it be wise to send a pay for delete letter?

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All of you have good points. But what do you think I should do? Like I said they had info. like my ss#, ex-husband info. last known address and every thing. The debt is only $60.00, but would it be wise to send a pay for delete letter?

Look, those who have been around this forum for a while KNOW I'm all for people paying their legitimate debts but a thirteen, that's 13, year old debt you knew nothing about that they obviously and purposely and IN VIOLATION put on your credit report for the express purpose of HARMING YOU and, of course, to get money from you that they are neither entitled to nor that you legally owe (even if it was your legitimate debt)???

HELL NO!!!!!

Even were this your legitimate debt and you wanted to pay it; you are suggesting trying to make a deal with a company/people who have already shown THEY DON'T CARE ABOUT THE RULES...what is God's green earth makes you think they would adhere to PFD agreement?

I hope I'm not being unclear.

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All of you have good points. But what do you think I should do? Like I said they had info. like my ss#, ex-husband info. last known address and every thing. The debt is only $60.00, but would it be wise to send a pay for delete letter?

I don't care if they have your shoe size, blood type, the name of the ship your ancestors came to America on or a blueprint of your house - the debt is OOS for both FCRA and Suit purposes and they violated both FCRA and FDCPA. The fact that they want to give you $2000 for a $60 debt is their stupidity - not doing anything to collect the $2000 would be yours.

$60 is a single late fee accumulating interest all these years. They are doing this over a single late fee? And you'll actually even THINK about letting them get away with it? If you were a member of my Board the summons would already be on its way to them.

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The only thing yous end at this point is a summons to the CA. The CRB TL removal will be part of your settlement with them.

Just remember - if they want a Non-Disclosure Agreement in the Settlement, I tell them my silence costs an additional $10,000.

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