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Collection for a 1987 debt.
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Posted by PaulFurio (67.30.117.218) on September 03, 2003 at 00:06:50:
Today I received a piece of mail that shocked me, I almost junked it and maybe I should have. It's from CAMCO, Capital Acquisitions & Management Co., Rockford, Ill..
Wanting thousands for an unpaid credit card balance. Last payment made in 1987, in California. The original debt was to 1st Interstate Bank, sold to Capital Financial Group, when, don't know. Recently, (June)this group was purchased by CAMCO, who I called. Stupid? Someone please tell me if I am. I told the representative that this was not my bill, but it has my S.S.N.. I was told they would accept $2500. After more questions about the name on the card and the state it was issued in, they went down to $1000. I was also told that this could be sold again to collect. I looked up The Statute of Limitations and California says 6 years for a Open Agreement, it's been 16 years.
What should I do? HELP!
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