Legal Question in Credit and Debt Law in California
Collection effort
I had a credit card account in CA that
was charged off in 2003. I was
recently contacted by a collection
agency in NY. They threatened at the
time to sue me and talked me into
discussing a settlement with them. I
so far have signed nothing nor made
any payment to them - pending
paperwork being sent by them to me.
Does the fact that I had a
conversation with them via phone
reset the clock on the statute of
limitations?
If so, I would be happy with the
settlement as opposed to them
pursuing further legal action should
they chose to. What is the best way
to guarantee they follow thru on
what was discussed? Or what action
would you suggest I take next?
2 Answers from Attorneys
Re: Collection effort
Your debt is probably barred by the statute of limitations. Have you received any written correspondenc from the collection agency? Please contact me and I can help you should you have any other questions.
Re: Collection effort
What's "happy" about your possibly volunteering to pay a debt that they can't collect? Yes, making a payment or a promise to pay resets the clock, but they have other problems -- buyers of stale debt usually don't have a copy of your signed contract with the original creditor. If they were to sue, and you were to defend the lawsuit, they would lose. So my advice is to ignore them (but write them a FDCPA validation letter - google the term). Deal with CAs only in writing. Use attorneys who demonstrate they are familiar with FDCPA and other consumer debt issues.
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