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Linda & Why Chat

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Posted by Torsion ( on September 21, 2002 at 21:35:14:

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

I guess you think you are being cagey or something. There's no way to give you correct advice without all the deatils about this debt, what happened etc. We KNOW "they" didn't pick your name out of the phone book and send you a check - unsolicited.
Nobody here cares what you did or why. If you want good advice, post the details. Otherwise, you can't expect good advice.
Excuse me for not knowing all your “rules”. Like I said, I thought it was a very generic question. I had no clue it would be Yes IF or No IF.
And, what are you implying by "We KNOW “they” didn’t pick your name out of the phone book and send you a check – unsolicited."
I don’t know how they picked me, but it wasn’t the first “offer” like that I had ever gotten and it wasn’t last and each was unsolicited. It was, however, the ONLY one I ‘accepted’. A check came in the mail and the “deatils” were: Sign it and deposit it and you have a loan. Believe that or not. I am going to guess that this offer came the way many others come: They check your Credit Report and believe you'll take the bait. I believe these people want you screw yourself.

Why Chat:
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 fulfill 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.
It's not the first I've heard from a CA, but it is the first from THIS CA.(Whitewing)
I did make payments originally, but I was in so much financial trouble, I took the 'loan' to pay all the rest and things got out of hand.
It is on my CR.
I no longer have that bank account.
I guess I have a problem, then.
Thanks Why Chat and Scott for your help.
Linda, you need a little tolerance.

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