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Collections on old debt


rebornRN
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I have three collection accounts left on my credit that are either expired or about to expire in the next few months. I am confused on what to send to these agencies to get them off of my report without restarting the SOL. I was going to send a DV letter to each, but after reading some of the post from people dealing with these agencies now I'm not sure. The agencies are Portfolio Recovery (Capitol One) for $712, Asset Acceptance Corp (Dell) $1850, and the wonderful Midland Management Corporation (Best Buy) $870. All three of these accounts have opening dates of 2013, but were definitely defaulted on prior to 2010 (when I went through a divorce). Do I dispute these with the collection agencies themselves or do I dispute with the 3 bureaus?

 

I have already sent letters to the 3 bureaus disputing all of my negatives except these three. Just need to get my score up ASAP so I can get a new car!

 

Thanks for helping!

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To start with the only way you can reset the SOL is to make some kind of payment.Communication with the jdb does not reset the SOL.

 

What to send them, have they sent you any direct dunning letters? You could send them a debt validation letter, but they may not even answer it. I myself would leave a sleeping dog lay. If you contact them in any way they will think you want to pay up or are trying to fix your credit and they will start hounding you.

 

You have three of the worst junk debt buyers on your CR. You say they are all prior to 2010, how much prior? Its hard to give advice if the exact date is unknown. If they are definitely past the SOL and they have changed the DOLA then they have reaged the account and that's a big no no.

 

Need to see how they are reporting to be more helpful.

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i'm not certain, but its sounds like you're confusing SOL (Statute of Limitations, a state law) with Reporting Period (RP is part of the FCRA, a federal law = 7-1/2 yrs).  According to the FCRA, a creditor can report negative info on your reports for the full RP.

 

The SOL only means if they sue you, and you show up, and the judge agrees, they don't get a judgement.  However, the debt is still collectable AND reportable.

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To start with the only way you can reset the SOL is to make some kind of payment.Communication with the jdb does not reset the SOL.

In some jurisdictions (I do not know if Louisiana is one of them ... never been there) an offer to pay (which an offer to settle might be misinterpreted as) can, by itself, reset the SOL.  That might even include PFD offers.  Be sure to maintain dispute status in every communication (in writing so you don't have an accident).

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Just because an offer was made dont mean squat..in order for a contract to exist there has to be an offer and then an acceptance. As long as you did not accept the offer there is no contract. I would like to see some case law that state a mere offer rests the SOL.

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Just because an offer was made dont mean squat..in order for a contract to exist there has to be an offer and then an acceptance. As long as you did not accept the offer there is no contract. I would like to see some case law that state a mere offer rests the SOL.

I wish I could remember the jurisdiction this was in.  Apparently if there was an offer made by the debtor to the creditor with specific terms, the creditor could accept it and it's a contract.  The impression I got was if a dollar amount was stated, that was a complete offer, at least in the context of the terms.  I would suspect it might be required for the creditor to send its acceptance so the debtor would know to start paying.  And we know how CAs and JDBs make claims they sent what they didn't.  But a non-clever lawyer can make up stuff like that around any known offer ("we did accept your offer and mailed that to you, you didn't pay, SOL for that started when you didn't pay").

 

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I wish I could remember the jurisdiction this was in.  Apparently if there was an offer made by the debtor to the creditor with specific terms, the creditor could accept it and it's a contract.  The impression I got was if a dollar amount was stated, that was a complete offer, at least in the context of the terms.  I would suspect it might be required for the creditor to send its acceptance so the debtor would know to start paying.  And we know how CAs and JDBs make claims they sent what they didn't.  But a non-clever lawyer can make up stuff like that around any known offer ("we did accept your offer and mailed that to you, you didn't pay, SOL for that started when you didn't pay").

This would not represent a contract, I am not saying some court somewhere has said it does but there is room to argue on this.

What you describe is nothing more than an invitation to treat. An invitation to treat is a mere declaration of willingness to enter into negotiations; it is not an offer, and cannot be accepted so as to form a binding contract. An agreement is not created if there is an acceptance of the invitation to treat.

An invitation to treat is part of the preliminaries of contract negotiation, but not legally binding. All you are doing is feeling out the other side to see where they may stand on an issue. subject to compliance with the terms of the offer. For example: Invitations to treat are advertisements, price lists etc etc....

 

Only what is offered can be accepted. This means that the offer must be accepted exactly as it was offered without any added conditions. If any new terms are suggested this is regarded as a counter offer which can be accepted or rejected.

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Just because an offer was made dont mean squat..in order for a contract to exist there has to be an offer and then an acceptance. As long as you did not accept the offer there is no contract. I would like to see some case law that state a mere offer rests the SOL.

 

If the statute of limitations has no yet expired, an oral promise to pay can work to toll the statute, particularly if the creditor can show he relied upon your promise to his detriment (i.e., didn't file suit because you promised to make a payment). Don't confuse this with renewing the statute that has already expired; these are two different circumstances. In @rebornRN's case, one or more of these accounts may still be in statute, meaning poorly chosen words can have unintended effects.

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To start with the only way you can reset the SOL is to make some kind of payment.Communication with the jdb does not reset the SOL.

 

What to send them, have they sent you any direct dunning letters? You could send them a debt validation letter, but they may not even answer it. I myself would leave a sleeping dog lay. If you contact them in any way they will think you want to pay up or are trying to fix your credit and they will start hounding you.

 

You have three of the worst junk debt buyers on your CR. You say they are all prior to 2010, how much prior? Its hard to give advice if the exact date is unknown. If they are definitely past the SOL and they have changed the DOLA then they have reaged the account and that's a big no no.

 

Need to see how they are reporting to be more helpful.

Yes, it looks like the accounts have been reaged. They were defaulted on 2/2010, 6/2010, and 11/2009 respectfully. I went through a divorce that year and had limited income. I have paid off everything on my CR and have been making on time payments on my only loan for the past year, but my score is staying under 600. I need a new car in the next few moths, and I want to sell my house within the next year. I really need to get these three accounts off of the report if at all possible.

 

Portfolio Recovery is listed as a collection account opened 3/2013 with failed to pay for the past 3 months

Assest Acceptance is listed as collection account opend 6/2012 with FP since 7/2012

Midland is listed as collection account opened 5/2012 with FP since 12/2012

 

I also have one medical bill that is reported to be with a collection agency. When I called the agency they had no records of this account in mine or my childrens name, I then called the medical office and they had no records for this account either. How do I get this off my CR?

 

I also have 2 negative accounts from department stores that have been paid off for 3 years now. I was thinking of sending a Goodwill letter to see if they would remove them. Is this something they will do?

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I agree with Gunny regarding letting the sleeping dogs lie until they drop off. You may get more than you want to chew on if you wake them up. I thought LA had a 3 year SOL...

 

So even though the SOL was up on the last one in June, I should just leave them alone? Won't they still show on my CR for 4 more years? I was going to send DV to them and/or junk debt letters to them to try to get them removed completely.

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You can dispute them directly with the credit reporting agencies. Although they can't sue you on them as the sol is time barred, they can and will report them for 7.5 years from the original default date. If you dispute, they have to list them as disputed, until they come back verified. Don't do it online, do it in writing.

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