How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

old dept

Resolved Question:

i have recieved a notice of a dept i have had since 1989. the loan was for $800. now thay say i owe $3000. i had forgot about the dept, and have not recieved any word from them about it, although they did send me copies of notices that they have sent every year. do they have a right to the money after all these years?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.
Hello,
What state was the debt incurred in? What type of debt was it - credit card?
Customer: replied 8 years ago.
the state is washinton. the loan was from an insurance-anuity co. that we had a policy with.
Expert:  Ellen replied 8 years ago.
Do you still have the policy or was it cancelled?
Customer: replied 8 years ago.
that company no longer exists but another co. took them over. we have not had the policy for years.
Expert:  Ellen replied 8 years ago.

Hello,

Thank you for your question. I am happy to assist you.

In Washington State, the statute of limitations for written contracts and accounts receivable is 6 years (RCW 4.16.040). This means that any action based on the debt is time barred by statute.

Generally it is beneficial to lodge a complaint in writing requesting that the collection company stop contacting you to collect the debt. If they continue their actions after the written notice, you may be able to file suit in federal court for violation of the Fair Debt Collection Act.

I hope that the information which I provided was helpful to you.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,
FLAandNYLAWYER

Please hit ACCEPT so that I can get credit for my work

Bonuses and Positive Feedback gratefully accepted!

THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
Reply to FLAandNYLawyer's Post: should i just ignore them and let the interest build up, or let them know it is too late to collect and stop any further dept acccumulation and attemts to collect the money?
Expert:  Ellen replied 8 years ago.
Hello,

Let them know the SOL has run. If they continue to try to collect after they are notified, you may have an action to collect from them.

Please CLICK ACCEPT so I can receive credit - Bonus = job well done.

THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE