Legal Question in Credit and Debt Law in California
credit card collector
i supposedly had an opened an account in 1999 with capital one. In 2002 they sent it to cmc midland credit management - note: i never received a statement regarding this. this does not appear on my credit report either. now the cmc collection agency has taken over and wants $381.00 to settle a $1525.00 balance on the credit card? when does the statue of limitations run out and is this legal? this was opened in 1999, turned over to the collection agency in 2002 and they are reopening it up in 2007? is this legal? will it affect my credit?
2 Answers from Attorneys
Re: credit card collector
It appears that they missed the statute of limitations. Did you get a demand letter from the collection agency. There may be a violation of the Fair Debt Collection Act. Please contact us if you have any questions.
Re: credit card collector
Under California law, they cannot bring suit because the statute of limitation has run -- assuming no payment has been made in the interim. Different states have different such statutes. Thus, unless you voluntarily pay, they are out of luck. If they call, tell them not to call again. If they insist on attempting to collect, contact an attorney about taking action for violation of the Fair Debt Collection Practices Act.
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