Re: Lowes & CA

Posted by Boadicea (66.149.179.202) on June 22, 2004 at 18:14:43:

In Reply to: Re: Lowes & CA posted by Ted on June 21, 2004 at 23:37:33:

Call the company that provides financing for Lowe's (from a payphone, if possible) to find out if they still own the account or if they've sold it. If they still own the account, perhaps you can somehow make arrangements to pay this off.

If sold, Blatt is acting as a third-party collection agency and is therefore subject to the FDCPA. You can request validation from Blatt and they will have to provide it before pursuing collection activities. BUT THAT DOESN'T MEAN THEY WON'T or CAN'T SUE. That would most probably be their next step.

The SOL in IL for sales of good is four years, for regular credit card debts it's five. If you're only six months in arrears, you have three and a half to four and a half years to go. To be honest, I don't think you can ignore them for that long unless it's clear to Blatt that you are judgment proof. If you have any assets or are a heavy user of credit, they will go after you.

Protect your assets as best you can. But I think your best bet might be to try to make payment arrangements with the original creditor if you can.

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