Legal Question in Credit and Debt Law in Texas

Credit Card Debt sold ...

I previously asked this question but afterwards I read in the knowledge base and decided to be more precise. I had an account with First North Amercian National Bank. I moved from Texas to New Hampshire in 2001. I moved back to Texas in Sept. 2003 I called FNANB before I moved to inform them I would be moving and it would be a month, two or possibly longer before I would be able to make another payment. (I had never been late on a payment at the time) The rep I spoke to began to insult me and told me he would be calling me daily until they got their money. I was very offended and told him if they would not work with me that I would not pay them at all. The last payment was in Sept of 2003. At some point they sold ''my debt'' to Jefferson... something. Jefferson has reported to credit agencies my debt to them. Looking at my credit report it indicates I opened an account with Jefferson in 2004. I assume this is when they bought my debt being I never opened an account. Do I owe Jefferson anything being I never had an account with them and does the (4) year Statute of limitation begin with my last payment to FNANB in Sept. of 2003 or can Jefferson file a suite based upon them purchasing this debt in 2004?


Asked on 11/12/07, 3:43 pm

1 Answer from Attorneys
Jeffrey Brashear The Brashear Law Firm, PLLC

Re: Credit Card Debt sold ...

First, I am not sure where you got the four year statute of limitations. But when dealing with credit reports and the information contained within, the statute of limitations is seven years unless a bankruptcy which is ten years. There are ways to protect your credit rating within the credit reporting agencies. As for a defense against the contract itself, that would be determined upon the actual contract language. You really need an attorney to look at the contract and then you can get a more specific direction to proceed in. If my law firm can assist you with this legal matter or any other legal issue, please contact my legal assistant Jennifer ([email protected]).

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Answered on 11/13/07, 6:13 pm


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