Asset Acceptance and Statute of limitations...
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Posted by itsmeee
(24.250.0.131) on June 21, 2004 at 17:00:54:
Ok, here's the deal: Before college (in 1994) I signed up for a credit card while a legal resident of Massachusetts. I did run into some problems with this card and it went to collections. I paid it off in late 1996 through the collection agency. I moved to Rhode Island in mid 1997. Of course, now it has been more than 7 years and I've shredded all of the cancelled checks (of those I could find from those wild party college years) after suggestions from my accountant that I only needed to hold onto that info for 7 years. So, long and short, I don't think I have a way to prove that it was paid. The statute of limitations in MA on credit card contracts is seven years, but in RI it is 10 years. Which does this situation fall under? MA or RI statute of limitations? In the mean time, I've called Asset Acceptance and told them I've done business with this particular credit card company, that I had paid it off, and I was going to dispute doe to the statute of limitations... Anyone have any other advice?
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