Re: A Charged-Off Question

Posted by Drew (24.59.27.46) on October 21, 2003 at 16:00:57:

In Reply to: Re: A Charged-Off Question posted by Confused on October 21, 2003 at 15:47:28:

Wrong. IT means everything. When you defaulted under another creditor, and stopped paying in May 1997, the creditor was required by federal law to charge off the account 180 days (6 months) after the date of last activity. That would have made the charge off date November 1997. Any company who purchases an account after charge off is a debt collector.

Somehow these new owners got the account May 2003. I assume it is six years in NJ for SOL. It makes no difference when the company bought the debt. If it is past SOL, it is past SOL Send them Why Chats SOL limitation letter. They bought an uncollectable debt.

This is now 10-03. The are definetely past the statue of limitations and if they just now this year bought the debt, they did not buy it within the charge off period. THey bought it years after the charge off and are a debt collector. It is past the SOL.

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