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Debt Collection

Posted on: 26th Sep, 2008 07:56 am
I keep getting a call from a collection agency stating that I owe for a Montgomery ward credit card dept dating back to 1996. The account was charged off and had been off my credit report. I have no plans to pay this dept because it is so old and I have never gotten any bills from any collection agencies since 1996. Should I worry about going to court and having to pay this dept.
i would worry about going to court if i were you. you never know what documentation exists that might persuade a court to issue a judgment against you.

you'll need to insist on seeing every piece of documentation from the collector that gives them the right to seek payment from you. if they can't come through with that, you might want to contact the attorney general's office in your location to see what your rights are.
Posted on: 26th Sep, 2008 11:48 am
Hello- If it's a valid debt you incurred, then yes, I'd recommend you worry about it. You may very likely be able to settle with them for pennies on the dollar.
Posted on: 26th Sep, 2008 01:28 pm
Hi Nicey!

Welcome to the forums!

Charge off doesn't mean that your debt is forgiven. It simply means that your original lender has sold off your debt to a collection agency and that they are not bothered whether you pay your debts or not. Its the collection agency who will pressurize you to give the debts. This is what presently is happening with you. I think it will be better if you pay off your debts.

Feel free to ask if you have further queries.

Sussane
Posted on: 26th Sep, 2008 07:47 pm
You don't have to worry about going to court as the Federal Debt Collection Statute of Limitations for unsecured debt has probably expired (unless you are in RI since their SOL expires in 15 yrs) :shock: . Check to see what your state's FDCSOL is here:

"http://www.consumerfraudreporting.org/debtcollectionsol.php"


It has also expired the Federal Credit Reporting Statute of Limitations so it will not reappear on your credit report (7.5 yrs after the First Date of Delinquence or FDOD). Just ignore as this is a junk debt collector. If you are subpoenaed to go to court just use the SOL has expired defense and the judge will throw it out.

Edit: I forgot. If they call again firmly tell them to cease and desist. If they are sending you letters, send a Cease and Desist letter noting that the Statute of Limitations have expired on this debt and their collection attempts are illegal, therefore you will be contacting an attorney for litigation if this letter is disregarded.

If you have replied to them, sent in a payment, etc, at some point in the past 12 years, you may have re-started the clock on this debt. If this is the first time since it dropped off your report that you are hearing about this, then I would not worry.

[Deactivated URL as per forum guidelines]
Posted on: 05th Oct, 2008 04:42 pm
For years I had a credit card with CtiBank and sent in my monthly payment 5 days before the due date. It was always timely. Then CitiBank claimed they received a payment I had timely mailed, 5 days before the due date, a day or two late. Citibank charged me a $45 penalty. I called many times and they stonewalled me. I refused payment only of this penalty and paid off the rest of the card entirely. I canceled my card. Now they demand $300 in interest and penalties and filed it on my credit report. It is the only adverse entry on that report but impairs me from getting credit for a car purchase. What to do? my name is Gary.

[E-mail address deleted as per forum rules. Thanks.]
Posted on: 12th Apr, 2009 02:31 pm
Hi Gary,

It would have been better if you could have resolved the issue when they charged you $45. In my opinion, it would be better if you could pay off the interest or penalties. You can also try negotiating with the credit card company and try to lower the amount.

Feel free to ask if you have further queries.

Sussane
Posted on: 12th Apr, 2009 10:54 pm
your stubbornness has done you harm. i agree with sussane that it's unfortunate you didn't resolve this back when it occurred. and i also agree with the remedies she mentioned.
Posted on: 13th Apr, 2009 10:16 am
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