Anonymous
Anonymous asked in Business & FinanceCredit · 6 months ago

Statue of limitations, collections question.?

Collection account started around Dec. 2015 early 2016. Do not know exact date. Had a live chat conversation with original creditor in 2017. Did I re start the statue of limitation time frame by reaching out to the original creditor? My account was already submitted to an agency and I was trying to pay the original creditor to dispute it on my credit report .

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  • 6 months ago

    You may have restarted the clock on the debt. Only an attorney can answer that 100%.

  • Never
    Lv 7
    6 months ago

    The SOL has ZERO to do with collection activity. Collections can continue forever if they wanted.

    For credit purposes, its 7 years from the date of last activity which probably means your last payment or charge. That is it will stay on your credit report that long.

    I got a call from a collector on a 10 year old debt that was not even mine. Rather than argue with them, I just said I will never ever pay no matter what. And they never called back.

    No matter who you pay, you cannot dispute it on your credit report. Well, you can but it will fail.

    If you want to send the original creditor a pay for delete letter do that. But wait until the agency sends it back because they are not going to be involved if its with a collection agency. And if it was sold to the collection agency, neither will take a pay for delete.

  • Stoo
    Lv 7
    6 months ago

    You can't run away from debt just by ignoring it - you either declare bankruptcy, reach a debt settlement agreement, or make more money to pay them back. With time debtors will give up the pursuit of debt but if not faithfully discharged your credit rating will be shît for years, and deservedly so. Would you lend money to someone with a history of running away and using tricks to never pay it back? No.

    Get a debt counsellor to work on this for you and come up with the best answer for your situation. But the best solution inevitably means owning up to the debt in a proactive and formal way - not hoping it just disappears over time.

  • Anonymous
    6 months ago

    It hasn't started yet. It will start when you state that you are not paying another cent toward your debt.

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  • Anonymous
    6 months ago

    Extending the SOL depends what state you live in which you didn't provide.

  • 6 months ago

    Pay or you’ll probably end up with a court summons. Only a judge can break a collections agreement.

  • Rick B
    Lv 7
    6 months ago

    If you owe the money, PAY IT. have some INTEGRITY.

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