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Do you remember the last time you made a payment?
Are you there Gary?
I havenbt used a credit card cince 2001.
Busy day. They said last payment made to them in 2004.
The statute of limitations prohibits this debt from being collected.
I have no clue how it got to $12000 bucks or 18000 for that matter
Or rather prohibits them from suing you for it.
They are adding interest to it.
OK I read that much earlier
The good news is that you do not legally owe it
Can they add interest to a debit that they took a tax credit loss on over 13 years ago?
They can try, but they cannot force you to pay it. The real question here is how to make the debt collector go away.
Under the Federal Fair Debt Collection Practices Act, you can tell them to cease all collection efforts and try to prove their right to payment in court.
When a company Writes the debit as a charge off, they take a tax break from teh government don't they?
You have an absolute defense to this, so you would win any case. And yes, they do that, and you are generally sent a 1099 for the write off
I've not received anything like that not now nor years past. So I can basically tell DRS to jump ship and take me to court?
In additrion to that I can monitor my credit to make sure it don't show up there? If it does what are my possible actions?
Yes. Here's what you need to do. Get their address and the account number they are using for your account.
They gave me the original credit card number over the phone.
is that good enough or do I need their account number for me?
Send them a certified letter that says "this account is not collectible and is barred by the statute of limitations. Please cease and desist further communication with me. If you do not comply I will file suit under the Fair Debt Collection Practices Act."
You can use the original credit card number.
Also, you need to dispute the account on your credit report.
Sounds like I got my money's worth today!
Glad to here that! The credit reporting agencies all have portals through which you can state your dispute.
You can either log on, or send them all a dispute letter (which is the preferred method).
Would you like me to get you the addresses for where to send the dispute letter for the credit reporting agencies?
Log onto where?
the credit reporting places?
Yes. There are three agencies which report credit. This is where your credit score comes from.
I'm going to find a link that gives you a sample letter to send to them\
And I will also give you their mailing addresses.
You want to do this because you don't want the invalid debt on your credit report.
It may not be collected or reported if it is more than 7 years old
Here is a link with the sample letter (at bottom of page).
I don't think they are on my credit report, but I will send the letters to all of them.
Its a good idea just to be safe. The addresses to the 3 agencies may be found here:
Is there anything else I can do for you today?
You can go have a fekin cold one on me after work! :)
I seriously nearly schitt when he said I owe them $18 grand and would I like to write a check or pay over the phone!
That is definitely on the to do list. I bet. They can be real bstrds, especially when they insist you owe something that you don't
Well thank you. I am going to copy all this and mail it to myself and start the process you suggested. THank you very mcuh.
You are welcome. Please make sure to rate my answer positively after we finish here (that's how I get paid from the website). Have a good one. -ZDN
Next page told me unauthorized access and was blank
hope it went through.