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Joey2025

Alabama out of SOL debit still owed what can I do?

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Hello all that will help,

 

Profile Recovery Associates currently owns a debt that belongs to me.

 

The last active date of this debt is 8/12/2009.

Debt total is $1,296.51

Alabama SOL is 3 years for a CC debt.

 

They claim they purchased the debt in 2011 but it didn't appear a$$ collections on my report until 3 days ago. 

 

I don't want to make payments because then it becomes active and hurts my credit even more. 

 

i want to get it deleted but my research says this company doesn't doe PFD. 

 

Should i just give it 3 more years and it just falls of?

 

What are my options?

 

 

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If they cannot sue you on it and the data is correct, then leave it alone. This is not a recent debt and hence should not be harming your credit score too much if you have more recent good stuff.

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Do you mean Portfolio Recovery Associates?  One of the top 5 bottom feeder JDBs in the world?

 

They do not do PFD.  You are correct.  

 

"They claim they purchased the debt in 2011 but it didn't appear a$$ collections on my report until 3 days ago."

 

They may have and since there is no requirement that they report it at all, as long as it is within the 7 year reporting time frame they can report it.

 

"Should i just give it 3 more years and it just falls of?"

 

PRA cannot age the debt based on when they purchased it.  Only you can decide if paying these bottom feeders is in YOUR best interest.  Personally I would scrutinize every one of their collection tactics and their trade line because they violate a plethora of laws and I got the to delete and cease collection activities by finding them and hiring a lawyer and using the BBB to win.  They got NOTHING from me.

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And, just to be clear...SOL doesn't mean they CAN'T sue.  It means IF THEY DO SUE, and you show up and raise the SOL as an affirmative defense and the judge agrees, they don't get a judgment.

 

So...you need to be vigilant...they may try to slip a subpoena by you... 

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If they cannot sue you on it and the data is correct, then leave it alone. This is not a recent debt and hence should not be harming your credit score too much if you have more recent good stuff.

 

since it was reported recently it just dropped my score 25 points and its so old, is there a way i can recover these points other than time?

 

 

 

And, just to be clear...SOL doesn't mean they CAN'T sue.  It means IF THEY DO SUE, and you show up and raise the SOL as an affirmative defense and the judge agrees, they don't get a judgment.

 

So...you need to be vigilant...they may try to slip a subpoena by you... 

 

What would you suggest to have ready if this were to happen?

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Time is the best. If you have a crucial need for a better credit score, then tag onto a family member with excellent credit, and become an authorized user. AND DON'T USE THEIR CARD--just bask in the increased FICO score.

 

If you are just antsy (aren't we all?) about a low score, then, yes, time is the easiest. But read carefully what @Clydesmom wrote: she attacked them on several fronts, and they deleted without being paid a thing.

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Since you are past the statute of limitations, you can go wild with your DVs, credit disputes and credit verifications.  

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If you are just antsy (aren't we all?) about a low score, then, yes, time is the easiest. But read carefully what @Clydesmom wrote: she attacked them on several fronts, and they deleted without being paid a thing.

 

In addition to this, this process took about 6-7 months total before they folded their tents and gave up.  It is NOT a fast process and you MUST have meticulous documentation.  

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Thanks to all the support from every one!!!

 

since it is out of SOL you would assume that some money is better than no money right?

 

In order to save me some time and heart pains. I would be willing to give them something if they would be willing to remove it. that way we both gain something. if they stick to their guns then they get nothing. they cant sue and my credit is already shot so what are they accomplishing? 

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IMO, wait.  Watch your local court's web site to make sure they don't file a suit without notifying you...and wait.

 

You cannot trust a CA or JDB.  If they would accept a PFD, that might restart the SOL (read your CURRENT state laws).  They might turn around and resell the balance.

 

Wait.

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If you are not going to be buying anything like a house etc. Don't woor about it, just let it ride untill it falls off. If you give them anything, it's profit to them, your loss.

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Thanks to all the support from every one!!!

 

since it is out of SOL you would assume that some money is better than no money right? OH HECK, NOOOO! Pay them a penny and you have reset the SOL.

 

In order to save me some time and heart pains. I would be willing to give them something if they would be willing to remove it. that way we both gain something. if they stick to their guns then they get nothing. they cant sue and my credit is already shot so what are they accomplishing? Just what you are contemplating, is what they are thinking: report SOL debt on enough people, and some of them will be desperate enough to pay us something to get it off their credit report. Which won't happen. And, even worse, the SOL has been reset AS HAS the 7.5 years that the debt can stay on the report.

 

Do it the hard way. It's slower, but it's cleaner and more safe.

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Don't send any money, That will simply reset the SOL process for both courts and reporting.

You are better off either waiting for the listing to fall off OR if there is something incorrect on the listing, to demand it either be fixed or removed.

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@Joey2025

 

If the original creditor is reporting, check the date of first delinquency.  The account will fall off your CR in 7 to 7.5 years from that date.

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