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Question on Collection Letter I got today


creditrepairstan
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Today, I got a collection letter on an old Orchard Bank account from Portfoli Recovery. The debt is post the SOL which they must realize as on the back of the letter it says "Because of the age of this debt we will not sue but information may be placed on credit report". Well they have had it on my credit report for months now so seems nothing else they can (I'm just now in the last week beginning the process of getting bad reports removed).

 

My question is how do I go about getting these guys to stop annoying me with these random settlement offers and phone calls. It truly amazes me that they are going to sned a letter asking me to settle a 680 dollar account for 575 but on the same page say they ahve no legal standing to sue me. I guess some people are that dumb to pay it?

 

 

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Send them a C&D letter CMRRR. Never send any money as it will reset the SOL. If they continue after they get the C&D, sue them. It will fall off your CR after 7 to 7.5 years.

Thank you for that and yeah you don't have to worry about me sending them a dime. This is a 5 year old alleged debt so its going off the report in 2 years anyhow.

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My question is how do I go about getting these guys to stop annoying me with these random settlement offers and phone calls. It truly amazes me that they are going to sned a letter asking me to settle a 680 dollar account for 575 but on the same page say they ahve no legal standing to sue me. I guess some people are that dumb to pay it?

@creditrepairstan - They used the words "no legal standing"?

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@creditrepairstan

 



Thank you for that and yeah you don't have to worry about me sending them a dime. This is a 5 year old alleged debt so its going off the report in 2 years anyhow.

 

 

Are you going by the date of last payment?  If so, the debt might fall your CR sooner. 

 

The 7 year reporting period is based on the date of first delinquency given by the original creditor in their entry on your CR.  The date of last payment and the date of first delinquency are not always the same.

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You can also write them a refuse to pay, that got the same effect as a C&D.

 

Acc#xx

Original creditor xx

 

Dear Sir:

 

I'm in regards to your last letter dated xx, I refuse to pay for this alleged debt.

 

Sincerely Yours

Me

Address

 

 

 

And see you soon, go pound sand. They have 1 last contact, to inform you they will stop collections or to tell you what they plan on doing, as it is SOL, I guess the only contact they can do is to stop collection efforts. If they contact you to try to collect is a violation, treat it as their last communication and tell them that over the phone record all phone calls. As they can pull the bona fide error. After that one sue them.

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 "I REFUSE TO PAY" should do it. 

 

Send it CMRR with a witness. You can even go as far as having yourself videotaped doing it. The whole process should take around 2 minutes plus your drive to the post office.

 

If they keep bothering you find an attorney that specializes in FDCPA cases and they will take over.

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The actual word is "Because of the age of your debt, we will not sue you for it. However, if you do not pay this debt, we may report it to the credit reporting agencies as unpaid.

 

Thanks for the help guys, I will send out a CD letter and hope tha gets them off my back. Well maybe not as I'd love a free grand from them. 

 

I find it odd they never did sue when it was in the SOL because the company involved has an office based in my hometown and they've owned this debt for 2 years now. I suppose though when its such a small amount its very very hard  (680ish) for them to make any kind of money in court even if they get a judgement and had paid 2 cents for the debt.

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I find it odd they never did sue when it was in the SOL because the company involved has an office based in my hometown and they've owned this debt for 2 years now. I suppose though when its such a small amount its very very hard  (680ish) for them to make any kind of money in court even if they get a judgement and had paid 2 cents for the debt.

@creditrepairstan- I've seen court for as little money as $680.  They have a streamlined system that doesn't cost that much to sue people.  

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