bigblue Posted September 15, 2010 Report Share Posted September 15, 2010 I recently DV'D palasides with standard dv letter asking to provide validation, expain how they reached that amount etc. this is what i recieved back in the mail.original creditor: mbnaprevious creditor: great seneca ( whom i never heard of or recieved correspondence from)current creditor: palasidescurrent balance:$xxxxxxxaccount number:xxxxxxxxxxxxxxxssn:xxxxxxxxxdebtor#xxxxxxxxcharge off date: 06/03/2001open date: 3/22/1995and this statement: we have recieved you request for validation of this debt.while we validate this debt, we have placed this account in dispute status and have stopped all collection activity on your account.meanwhile the account information we have file for this account is above.im asking you guys, what exactly does this all mean? the statute in ky is 5 years, i believe. could someone explain this to me. thanks Link to comment Share on other sites More sharing options...
Massive Posted September 15, 2010 Report Share Posted September 15, 2010 If the SOL in Kentucky is five years and you have made zero payments since charge off then the debt is uncollectible. I'd let them know that the matter is closed due to SOL. Link to comment Share on other sites More sharing options...
BTO429 Posted September 15, 2010 Report Share Posted September 15, 2010 Send them a cease communication letter. Tell them they are trying to collect on a time barred debt and that if they continue to contact you it will result in a suit being filed against them. Link to comment Share on other sites More sharing options...
Massive Posted September 16, 2010 Report Share Posted September 16, 2010 Ace that BAR Exam in three semesters sir!! Link to comment Share on other sites More sharing options...
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