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Question about collections
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Posted by Tom on July 19, 2001 at 23:06:04:
Hi I have a charged off sears account being handled by Van Ru collection agency. The charged off amount was 2,612 and I recently made a payment off $150 after talking with them. I want to pay this debt off but they said they need 30% of the debt now to secure the account with them or sears may pull the account and start further collection activity. My question is this. The debt was charged off in late 1999. How likely would they be to sue me for the balance being right now i am unable to give them 30% to "hold the account with them". And would they resort to suing me anytime soon or would they keep trying to collect the account being its 2 years charged off and as far as i know the SOL in NY is 6 years. Basically are they more likely to wait it out toward the end of the SOL or try to do something now or soon. And I was also what would be assets that they would look for in the event of a lawsuit? I don't own a home but i have to cars which are both 1988 and 89 and a jetski. I choose not to have a bank account at the moment due to the circumstances with this. Any help would be greatly appreciated. P.S. I know making a payment was a bad idea but i called sears to try to deal with them on the matter and they just said the account is no longer with us. Does this mean it was sold to Van ru? Thanks again. Tom
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