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 Roger Your Own Question
Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31025
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
6704987
Type Your Bankruptcy Law Question Here...
Roger is online now
A new question is answered every 9 seconds

We received a collection letter in the mail for something that

This answer was rated:

We received a collection letter in the mail for something that happened 15 years ago. Can they go after a debt tha old, and did they have the right to run a credit report?thank you, XXXXX XXXXX

Hi - my name is XXXXX XXXXX I'm a Bankruptcy litigation attorney here to assist you.

 

What is the debt from? Credit card, medical bills, etc.?

Customer: replied 5 years ago.
vehicle loan from G. E. Capital. The letter is from ERSI The car was reposesed. This happened in about 1996

Thanks. In this circumstance, the debt is not collectible as the statute of limitations is 3 years from the date the agreement/contract was breached. Thus, you're way passed the statutory timeframe to be obligated to pay.

 

This credit agency has likely purchased this written off/charged off debt from the original creditor for pennies on the dollar and is just fishing to see if you'll offer to pay anything - if you offer to pay or acknowledge the debt, the statute of limitations can be renewed.

 

Thus, you should just send them a letter stating that you don't owe the debt and any collection attempts are barred by the statute of limitations of Colorado Statute §13-80-101 (http://gregtiemeier.com/uploads/statute_chart.pdf - on page 3) and if they don't you'll report them to the Federal Trade Commission for violating the Fair Debt Collection Practices Act. http://www.ftc.gov/os/statutes/fdcpajump.shtm

Roger and 3 other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions