Legal Question in Credit and Debt Law in Texas

I just got a call from Dynamic Recovery Systems. They're trying to get me to pay on two credit cards that were closed out back in the mid-90s. They say their clients are going to file 1099-c forms that will possibly cause me to pay back taxes. This debt was incurred in Texas. One credit card has been in collections since 2001 and the other since 2000. Aren't these beyond the statue of limitations and can the creditors really file 1099-c after more than 10 years?


Asked on 10/09/12, 9:13 am

2 Answers from Attorneys
Donald McLeaish McLeaish&Associates;, P.C.

yes beyond stat limitations but creditors may file which IMHO would not be effective as normal 3 years with IRS..and if they do, you may sue creditor/collector...more likely bluffing to get u to pay something...which they have no legit claim to ie the collector

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Answered on 10/09/12, 9:28 am
Greg Wiley Law Office of Greg Wiley PLLC

This is definitely beyond the statute of limitations. They are threatening actions that they cannot so that is a probably a debt collection violation. You might consider talking to someone that specializes in debt collection violation issues.

Best of Luck

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Answered on 10/09/12, 10:22 am


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