Legal Question in Credit and Debt Law in California
Old debt
I received a call about 2 months ago that I owe $5000 from a debt in 1990, they will settle for $500, I've heard nothing about this debt in the past 11 years & have good credit today, they keep calling & want me to money gram the money Today
3 Answers from Attorneys
Re: Old debt
The statute of limitations has long since run on this debt, otherwise the company would not be willing to settle.
They cannot report anything to a credit reporting bureau, because it is older than 7 years.
If these communications are coming from a collection agency, they are violating state law. Inform the caller, whether it is the original creditor or a collection agency, that you will file a complaint with the Attorney Generals office if they persist in calling.
Re: Old debt
Dont pay. they cannot legally collect after 4 years.
Re: Old debt
Messrs. Koenen and Koury are correct. In addition to violating state law, however, the collection agency is probably violating the fair debt collections practices act and other federal laws. You should tell them that they are violating not only state law, but federal law as well, and if they persist, you will file a complaint with the California Attorney General, and the Federal Trade Commission. You can get additional information on federal law at www.ftc.gov.
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