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What TYPES of debt are covered under SOL?


shorty393
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I did some research online and can't seem to find anything clear. I had a debt from Kay Jewlers that was sold the Portfolio Recovery Associates. Details below:

acct closed 12/10/96

acct charged off 04/26/97

acct sold to PRA 08/22/04 (over 7 years later!!!)

The first time PRA contacted me was September of 2008. I told them I disputed the debt and asked them to send me something in writing. I got a letter showing the original acct dates and when they purchased, but before I got the letter I found a ton of reports and complaints online about this company and I decided it was all fraudulent crap and ignored it. (Probably not the best idea I guess.) I hadn't heard anything from then again until today when I get a call on my cell phone (not sure how they got that number). I tried telling them that I did not owe any debt and that what they were doing was not legal and to no longer contact me. They were extremely rude and pissed me off so I hung up. So that brought me back to research exactly what I could/should do about this. I called Kay's to get the dates on the account and they did in fact sell it to PRA. But the lady there told me that the SOL doesn't apply to that type of debt. Like a mortgage or car loan it is a secure debt and can be collected for any length of time. Is this right? But I also found that the SOL only keeps them from pursuing the matter in courts and does not keep them from reporting it on your credit report. What should I do? TIA!

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You will want to send Portfolio Recovery Associates a cease and desist letter, commonly known as a “FOAD” letter. The statute of limitations for any action in Texas is 4 years across the board. If they tell you any different they are lying. The 4 years is an affirmative defense should they file suite, but does not prevent them from attempting to collect hence the foad letter. It is also illegal for them to report on your CR past 7 yrs from the date of fist delinquency.

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LOL that is the Texas thing to do isn't it! if i had the resources and money to do it i would becuase they royally piss me off, but unfortunately i don't. if they would have just been civil and contacted me back in 2004 when they first got the debt i might have actually just paid them. but they were down right rude from the get go and basically called me a liar. umm yeah, thats a nice way to do business. and they had supposedly been trying to contact this entire time...... really?? because i have been at the same address and had the same phone numbers since 2000 so you clearly didnt try too hard!

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Thanks for the info wahoo. I was contacted by Weisberg & Meyers LLC who is offering to help with the case. Should I get back with them to see where it goes or just send the cease and desist letter on my own using one of the templates from online?

Just send a simple C&D nothing speacial.

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Thanks for the info wahoo. I was contacted by Weisberg & Meyers LLC who is offering to help with the case. Should I get back with them to see where it goes or just send the cease and desist letter on my own using one of the templates from online?

Sounds like Weisberg smells a good case.

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