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GECRB/Lowes


deejay3
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Due to job loss in 2007, I defaulted on a Lowes card in 2008.  At some point, I think 2009, I received a letter (from GECRB or associate) saying for a small payment I would get a gas gift card.  Well, STUPID me, payed the small amount, never got a gas gift card.  After finding this wonderful site, I now know they were just getting me to make a partial payment to start over the SOL to sue me for the debt.  What I am asking here today is, WAS/IS that legal?  If it isn't legal, and they try to sue me past my original  SOL, can this be used to help win a dismissal? They still pull my credit report every once in a while.  I am just waiting to see what's next.  Never get anything from a collection agency on this card tho.

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It didn't necessarily reset the sol.  SOL starts on when the account went into default.  If you made a partial payment, but it didn't bring your account current, then it was still in default.  Now some promotions they do they will accept a partial payment to bring it current, if that happened, then you did reset the sol.  If it was with a JDB, then you did reset the sol as you in essence created a new contract.

Look on your credit report.  Look for the month listed at the bottom, it should have each month how many days late, up to 120.  If after a bunch of 30, 60, 90, 120's all in the row, if you get a month that does not show late after you paid, then your sol was reset.

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It's going to matter how clear that "pay a little, get a gas card" offer stated that it was payment on the account, as opposed to for the gas card.  And the fact the OP didn't even get a gas card might be usable to completely invalidate, though he might need to demand his money back.  Not sure where that would go.

 

FYI, back when I was thinking about getting in the A/R business, my plan was to buy old accounts for pennies and offer very attractive payment plans like "$10/mo for the next year to get you started on clearing up this old debt", then sell them as in-SOL accounts.  I was even going to do it entirely by postal mail (no call center so no risk of hiring someone that might violate).  That's approximately what these guys did with the gas card offer (up until they didn't provide the gas card).

 

I'd argue "they just did a con ... and since it was a con, the money was stolen".  I'd even threaten to go criminal on them (e.g. file criminal charges for the con).  "No criminal charges if you just give the money back".

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It didn't necessarily reset the sol.  SOL starts on when the account went into default.  If you made a partial payment, but it didn't bring your account current, then it was still in default.  Now some promotions they do they will accept a partial payment to bring it current, if that happened, then you did reset the sol.  If it was with a JDB, then you did reset the sol as you in essence created a new contract.

Look on your credit report.  Look for the month listed at the bottom, it should have each month how many days late, up to 120.  If after a bunch of 30, 60, 90, 120's all in the row, if you get a month that does not show late after you paid, then your sol was reset.

Not necessarily true, SOL is determined from the date of last payment. So if you make a payment, even though it does not bring the account current, it is still a new date of last payment and a new SOL. 

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Thank you for the responses.  First, each of the credit reports look different and the "payment" is the same amount but on a different date on each report.  Equifax shows the account was C/O for almost 2 years and then a green square for payment in 3/2011, back to C/O. Transunion shows last payment in 2009, Experian shows 30 60 90 120 150 150..for the first of 2009 CO the rest of the time.  Doesn't list the exact date of payment.

 

I haven't found the sheet offering my "gas card" but I am looking for it.  Also, I am going to go to the bank and pull up the check and see what was written on it.  I believe it was paid during my first 4 months of defaulting on the card.  Because I was hoping they were going to "help me" get caught up.  I know I didn't pay it 2 years later.  But, I need to dig further.

 

Thank you again for the help.

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  • 1 year later...

Hi, I do have a problem just like this gentlemen here.  I was out of country for 6 month on emergency reason and I'm expecting that my Lowes account will be on default.  I went to logged in to my Lowes account and it confronted me with several types of payment options. 1st option was to pay my minimum due but they will still close my account, 2nd pay $550 and it will bring my account to current and update my credit record..  Just from reading some of the topic on this forum.. I just realize I just reset my SoL, Now my intension is to get mortgage loan how can I fix this without getting my credit score affected even worse.  Please help..

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