Re: collection agency calling for my son

Posted by scott (24.166.35.102) on December 04, 2002 at 02:26:36:

In Reply to: Re: collection agency calling for my son posted by Rhonda on December 04, 2002 at 01:44:34:

If she lets you speak, remind her the statute of limitations in alabama is 3 years and the debt is well past the SOL. also remind her per the fdcpa they can only sue in the state the card was opened in or the state your son lives in now. They will lie of course but screw em. then when they say that a credit card is not an open account just repeat this:
Please be advised that under the TILA section 15 a credit card account is legally defined as an "open" account.
The Act is in Title I of the Consumer Credit Protection Act and is implemented by the Federal Reserve Board via Regulation Z (12 C.F.R. Part 226).
The Regulation has effect and force of federal law.
Open-end Credit Transactions:
Open-end credit includes bank and gas company credit cards, stores' revolving charge accounts, and cash- advance checking accounts.
Typical features:
Creditors reasonably expect the consumer to make repeated transactions.
Creditors may impose finance charges on the unpaid balance.
As the consumer pays the outstanding balance, the amount of credit is once again available to the consumer

I doubt she will let you talk that long but you get the point. There is nothing they can do. Just remind her she is risking a large lawsuit on a debt that is past the SOL and they cannot do anything about it

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