Re: Got Letter About Debt Paid off 2 Years Ago!

Posted by Drew (24.59.27.46) on January 09, 2004 at 22:45:43:

In Reply to: Got Letter About Debt Paid off 2 Years Ago! posted by Russ on January 09, 2004 at 21:47:54:

You need to know date of last payment when you defaulted and current state. It may be past the statute of limitations and you can use that as a defense.

Whenever you settle with a collection agency or creditor, if the remaining portion is not forgiven legally where the creditor issues a 1099C, they have the legal right to sell the remaining portion of the balance to another collection agency or attorney where this agency will add their own interest and legal fees therefore doubling what you owe and they will come after you again.

The date of sale does not affect statute of limitations.

You need to find out if it is still within SOL.

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