Legal Question in Credit and Debt Law in Texas

collection of 10yr debt

Last summer a collection agency contacted us about a credit card debt from 10 yrs ago. They were offering a settlement deal. Not only did my husband not remember the debt not being paid but he had not been in any contact with the company for years. I agreed to send them a very minimum amount - between $10 and $100 monthly to make them stop hassling us. With the interest (I have no idea what the rate is) the balance is in the thousands. They recently contacted me and said they knew I was capable of paying the debt and would refuse any further monthly payments. I've since learned that that the statute of limitations was out and when I pulled our credit report I saw that it was reported partially charged off as of last summer (same time as 1st contact).

Can we stop making the monthly payments? What if they refuse to take them? Can we offer a 15% settlement of the original debt? Do we owe them at all since they won't produce a copy of the original contract? They've been calling everyday.

Thanks


Asked on 8/26/05, 9:57 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: collection of 10yr debt

Write to them, certified mail, telling them you dispute the debt, it's barred by limitations, and all subsequent communications are to be in writing; no phone calls.

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Answered on 8/28/05, 4:16 pm


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