Re: Collection Agency Letters

Posted by Why Chat (209.240.198.61) on September 21, 2002 at 16:39:42:

In Reply to: Collection Agency Letters posted by Torsion on September 21, 2002 at 14:22:41:

Well--Assuming this is the first you have heard from anyone since you cashed the check,and assuming you never made any payment on the loan, and assuming it is not on your credit report, and assuming that you no longer have the bank account the check was cashed into,then you might just send them a dispute letter saying "this is not my account" please cease and desist any further contact.

If any of the above situations do NOT exist, then you have a problem.

Your loan was not an "open account" loan,(with a 5 year SOL) but a fixed loan for a fixed interest and fixed period of time. In Mo. that is a 10 year SOL.

You MIGHT get off the hook if you are sued as it probably doesn't fulfil the required standards for enforcement in terms of the "contract".

But if you made any payments on it,that would have the effect of making it valid.

Follow Ups:

Post a Followup