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Alex J. Esq.
Alex J. Esq., Attorney at Law
Category: Consumer Protection Law
Satisfied Customers: 12680
Experience:  Experienced Licensed Attorney
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I just got a letter from a presumed purchaser of an account

Resolved Question:

I just got a letter from a presumed purchaser of an account that I had when I lived in Virginia, which by the way, was a charge off back in 2004. They are providing limited information on what looks like a phony letter. They have no details of the account except for the account number, original creditor, presumably who I now owe (palisades acquisitions xvi) and an outrageous amount.
I tried calling, and could not get through to a rep (I have never had a problem ever reaching a debt collector back in the days when I had bed credit...I currently have a 732 score which I have single handedly raised from a 525 in the last 7 years thanks to better job and better money handling).
Also, they had a western union quick collect number, which I called just for the fun of it, and it was a number to a law firm in Arizona.
Please advise...is this a scam?? And if so, what do I do?
Submitted: 11 months ago.
Category: Consumer Protection Law
Expert:  Alex J. Esq. replied 11 months ago.
Hello. My name is XXXXX XXXXX X will be happy to answer your question.

I am sorry to hear about this unfortunate situation.

What is the name of the company that has sent you this collection notice?

When was the last activity on this account?

What state are you in?
Customer: replied 11 months ago.


the company name isXXXXX & Cooper PC who has been retained by Palisades Acquisitions XVI, purchaser of maybe a credit card issued through Providian Bank. As I said, though, it was a charge off in Dec 2004, so there has been no activity on this account. I live in NJ since 2005. Prior to that I lived in CT from 2004 to 2005. And was in VA when the card was originally obtained in 1999.


And I know all this because thankfully I have a copy of a credit report from 2005, back when my credit was very bad. I have a free credit report membership so I monitor my credit regularly.

Expert:  Alex J. Esq. replied 11 months ago.
Dear XXXXX,

Thank you for your follow up.

When debt is charged off, it does not mean that the debtor is forgiven or released from the debt, but simply mean that the creditor has taken the debt amoun off their accounts receivables, for the accounting and tax purposes and such debt is often time sold to various companies and collection agencies, which can pursue further collection.

Unfortunately, this is not a scam, as collection activity can continue indefinitely, however in NJ there is a statute of limitation which is 6 years and according to the limited facts you have provided, it did expire. However, if you do make another payment on this account, that would restart the statute of limitation on the debt.

Collection of a debt can continue indefienitely, however since the statute of limitations appears to expire and also it has been more than 7 years since the last activity on this account, there is not much that this collection / law firm would be able to do, other than call and send written demands for payments, as they would not even be able to report this debt to the credit bureaus.

I wish you the best of luck!
Alex J. Esq., Attorney at Law
Satisfied Customers: 12680
Experience: Experienced Licensed Attorney
Alex J. Esq. and 7 other Consumer Protection Law Specialists are ready to help you
Customer: replied 11 months ago.


Okay...so, I had been doing research on this matter, but was unsure. Everything that you said is absolutely correct. There has definitely been no activity on the account since either 2003 or 2004. It has since been removed from my credit report, and with my scored being so good as of recent years, I was even able to purchase a home. And if I understand you, they and nobody else can ever report this debt to the credit bureaus. Can they do anything else to me?

Expert:  Alex J. Esq. replied 11 months ago.
Dear XXXXX,

Thank you for your follow up.

Generally, the collection agency / law firm, can report this debt, even though it has been more than 7 years since last activity on this account, but you would be able to dispute it and get it removed from the credit bureaus and possibly pursue a claim against the collection agency / law firm for the violation of FDCPA.

Also the law firm can still file a lawsuit on an old debt, after the statute of limitations has expired, however you would be able to bring the SOL expiration as an affirmative defense in order to get the case dismissed if it ever filed.

Generally, there is no other legal recourse that this collector would have, aside from phone calls or demand letters.
Customer: replied 11 months ago.


Very good. So, should just ignore the letters?

Expert:  Alex J. Esq. replied 11 months ago.
Dear XXXXX,

Thank you for your follow up.

Unfortunately, I am strictly prohibited from telling JustAnswer.com what to do, as such legal advise can only be provided by your local attorney upon full review of all the facts and documents related to your specific situation.

I can only provide JustAnswer.com customers with general answers to the customers' questions and I believe I have done so on this question, but if not please feel free to ask me any related follow up legal questions.

I wish you the best of luck.

Please click on the "excellent service" rating, so I can receive credit for my answer. Bonus and positive feedback is always appreciated, but is not required.

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