Re: 1. Mulitiple collection agencies 2. bk reporting

Posted by Linda on November 16, 2001 at 20:38:04:

In Reply to: 1. Mulitiple collection agencies 2. bk reporting posted by Lucie on November 16, 2001 at 14:17:29:

You asked:
Does the SOL begin for the collection when they buy the debt? If the companies that buy the debt are in another state does the SOL become change?

Answer:
The SOL begins on the date of the delinquency, in this case, so it would be in 1995 when you closed your account and stopped paying. What state are you in? What state were you in when you opened this jewelry account? Most likely that is the SOL that would be used. You may not have to worry about paying this depending on the state you were in at the time and the state you are in now.

Do not offer to settle this!!! That letter is not a cure all, it is for certain situations.
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You asked:
Also as a side note, my hubby filed BK 7 in 1995 and listed all debts. The BK went through and was discharged but the creditors that he claimed during BK have listed the debts as Profit and Loss writeoff and placed for collection. Is this correct reporting?

Absolutely not!! Anyone who is attempting to collect these debts is viiolating federal law, and you should notify the court where the bk was filed.

You can dispute them with the credit bureaus as "included in bankruptcy." However, when they tell you to send a copy of the bankruptcy, refuse. Anything you send will be used against you. Don't worry too much about these, they will fall off before the bk does anyway.

Linda

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