Old car loan coming back to haunt me....
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Posted by dan
(66.73.151.150) on May 09, 2003 at 13:04:48:
So here's the story.... I received a collection letter from an Attorney(WI) handling the aforementioned car loan. I contacted the credit union(IL) in which the loan was placed to find out when my last payment was. They stated that the last payment they have received was on June 30th 1997 - date of the collection letter is April 17th. This is the first notice I have received from anyone about the loan. It took a while for me to even remember what car it was for since the car has, of course, been repossesed and sold. Working for a reputable credit counseling agency and dealing with other peoples debts all day has luckily made me "smarter" in the practices of collection agencies. Although, I never thought that I would have to deal with my own - and 6 years later to boot. What do I do to get this resolved? Send the appropriate 'validity of debt' letter to get things started? I haven't contacted the Attorney General for the state of Illinois, yet...but isn't the statute of limitations 6 years? If it is I'm basically screwed since they contacted me 2 months prior to it running out. Any help would be much appreciated. The only thing I don't have anymore is the paperwork showing the sale of the car when it got repoed. Should I contact the CU to send them another copy of it? dan
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