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Old debt coming back to haunt me...
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Posted by Ed Perry on July 18, 2001 at 15:08:10:
Hi! I've been a California resident since 1990, but prior to that I lived in Virginia, where I racked up a $1,600 credit card bill with Signet Bank that I never paid (oops). The account was charged off in 1990, and my credit report showed a delinquent mark for 7 years. It's off my report now, but since I never paid it, it still shows as an open debt. The credit card debt was transferred to Capital One Bank (probably in an acquisition or something), and continued to accrue interest, and is now over $6,000! Neither Signet nor Capital One ever got a judgment on the debt. It's now 11 years later, and one of Capital One's collection agents found me in California, and sent a collections letter. My credit report is clean now, so that's not an issue, but I'm worried about what actions either Capital One or the collection agent might take. The statute of limitations has expired in Virginia, but how can I avoid a default judgment being made against me if they do decide to take me to court? Should I ignore the whole thing? I'm now a homeowner, so I don't want any liens on my property. Any advice would be helpful! Linda? You seem to be the expert!
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