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Help Please - Old Debts
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Posted by Wendy
on January 21, 2002 at 15:59:56:
I have several old credit card debts, small amounts, really, the largest being $2,000 before interest. They all are at least 5 years old, with one going on 8 years since I first became behind. I live in North Carolina and understand the statue of limitations is 3 years, is that correct? No one has filed judgments and I don't think they will now. I know the collection agencies will just keep sending letters or selling the debts. One has been to 5 different companies. My question is what can I do now? Should I write to the latest company and let them know that the Statue has expired, will it matter? Once the time limit is over for the credit bureaus, will I have to write to have them removed and what proof will I need? And also if the collection agency keeps selling the debt, can the new agency send a report to the credit bureau or is this the "resetting of the time" that's been discussed. Thanks for any help.
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