Legal Question in Credit and Debt Law in Ohio
Options to a charge off that has gone for over 2 years without notification unti
Stopped paying on a car in 1998 and was told it would be considered a charge off. 2 1/2 years later I get a letter from a collection agency about the remaining balance and they are threatening to sue and deliver papers at my place of employment. Have heard nothing in the 2 1/2 year time frame. What are my options? I would have been paying had I known that I was supposed to be paying on the car.
1 Answer from Attorneys
Re: Options to a charge off that has gone for over 2 years without notification
Unless you have something in writing which cancels your debt, I would think that you are still on the hook for the balance. Your best bet is to begin negotiating with the lender or collection agency to resolve this issue before it lands in a court. The lender would probably rather set you up on a payment plan that you agree to, rather than proceed with a court action.
You can initiate contact with the collection agency, or hire an attorney to make the contact on your behalf. An attorney contact may be more effective in representing your interests because collection agencies and lenders tend to cover their tracks more closely and follow the rules more diligently when they know they are being watched by someone familiar with the law.
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