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I have a credit card account that was charged off in 2005. I have not paid that original creditor since October of 2005. I did, however, make payment arrangment with the Collection agency for several months and then i could not afford to pay it anymore as they were requesting $200.00/month. I live in Delaware and the Satute of Limitations in 3 years. Since i have not paid the creditor since 2005 is this past the SOL for a Collection agency to collect on or because if did pay the collection agency did that start the SOL over again. It has now gone to a new collection agency and I was going to send them a letter stating that it was past the Statue of Limitations but not sure if that is correct
State/Country relating to Question: Delaware
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The latter part of your question is correct: Since you paid the collection agency, that restarted the statute again.
The statute of 3 years means that after your last payment, the collection agency has that amount of time (3 years) in which to file a lawsuit. If you do not pay anything or re-affirm the debt in writing, and 3 years passes, you are then free and clear. Thank you.
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another question. if i send them a letter asking for debt validation, how much detail are they supposed to provide
They should provide you with the original credit card contract and any assignments made over the years.
Each company will have their own policies, but it is important to keep in mind that if you simply fail to pay until they send information, they will likely file the lawsuit just to preserve the sol. Thank you.