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New credit card old debt


debt runner
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I was just reading on the internet that some debt collectors will offer you a credit card to start rebuilding you'r credit. The article also said that any debt even if its past the SOL will be

deducted from credit limit, for example portfolio recovery will give you a credit limit of 5,000 but you had a debt with them  for 1,000 so your CL is only 4,000.  Is it legal to add debt to new

credit card even if its past SOL.  This seems like a shady way to do things.

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2 hours ago, debt runner said:

Is it legal to add debt to new

credit card even if its past SOL.  This seems like a shady way to do things.

Yes, it is legal as long as they disclose it as one of the terms of opening the account.  It is shady but sadly many consumers succumb to it in a desperate move to get credit back.

The SOL being expired merely means they cannot use the courts to collect.  It does not mean they cannot collect on the debt.

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