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Asset Acceptance Collection Letter


Nikki3649
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I got a collection letter today from Eagle Recovery Associates. They say their client is Asset Acceptance, LLC. They are trying to collect on a Citibank credit card that I didn't even know I had outstanding. The card was opened in 1999 and used regularly by my live-in boyfriend. He moved out in 2005 and I never gave the card a second thought......(stupid I know). He stopped paying on the card, but I movedand never got a bill. notice, collection letter, anything...until now. I called and denied the debt, but was told that the last payment was made in August of 2005 andat that time the balance was $15,588. It has been accruing interest at 24% since that date and the now want me to pay them $28,749. Before I called tham I did some research and learned about the SOL. In Connecticut the SOL on credit cards is 3 years and begins after the last payment is made. My question is:

1.) I previously lived in Massachusetts where the SOL is 10 years which state do I use? I habe lived n CT for 2.5 years. and

2.) I am not opposed to settling and paying part of this, but not $28,000+. How would I try to negitiate without admiting the debt and thereby renewng the SOL?

Any advice would be greatly appreciated.....

Thanks

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First, send a DV (Debt Validation letter) to the collection agency. You have 30 days from when you received the letter. That will buy you a little time. That gives you about a month before sending the letter, and probably another month or so before they provide any information.

They may not have the correct documentation. This is another thing.

Go to Google and read as much as you can about the Conn debt collection laws. My guess (and this is only a guess) is that the Conn laws apply if you live in Conn and they are collecting in Conn. In that case, the debt is SOL.

DO NOT TAKE MY GUESS AS THE ANSWER!!!!!

Find out for yourself. If you are talking about $28,000 you should find out what the laws are.

EVEN BETTER: Find a good lawyer in your area. Some of the other posters may have some ideas. It is possible you could even wind up suing THEM!

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Guest usctrojanalum

well for purposes of SOL that is a defense to a lawsuit. If you opened the card in Massachusettes, and regularly did business with the card in MA - they can sue you in MA.

As for the moment, send them DV letter see what they got as far as docs go.

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