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Thread: Are these my creditor's last dying throws?

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    God/dess Zabrina's Avatar
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    Default Are these my creditor's last dying throws?

    Suddenly I'm getting bills from settlement accounts for old stuff. Like really old stuff, Colombia records and credit cards I got at age 19-20(cards that had $200ish limits but fined me into $1000plus debts in fees, so I just never paid). It's been nearly 10 years since the accounts were opened, and probably around 7 years since I just gave up on them. Are they suddenly billing me again because the time limitation is almost up? Does this mean all these dumb mistakes from my youth are about to go away? Or is it as simple as they just found my current address?

  2. #2
    Sitri
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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by Zabrina View Post
    Suddenly I'm getting bills from settlement accounts for old stuff. Like really old stuff, Colombia records and credit cards I got at age 19-20(cards that had $200ish limits but fined me into $1000plus debts in fees, so I just never paid). It's been nearly 10 years since the accounts were opened, and probably around 7 years since I just gave up on them. Are they suddenly billing me again because the time limitation is almost up? Does this mean all these dumb mistakes from my youth are about to go away? Or is it as simple as they just found my current address?
    Some Fly-by-night collection agency bought this gold mine. I would do some research, but I would guess the collection time is about to expire or has expired. Whatever you do, do not affirm or acknowlede the debt as I think this may start the time all over again.

    I would pull your credit reports to see what is going on. Good luck.

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    God/dess Zabrina's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Bills going directly into trash as usual, got it!

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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by Zabrina View Post
    Bills going directly into trash as usual, got it!
    haha LOOOVE it!

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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by VenusGoddess View Post
    You should pull your credit report and make sure that they are falling off or will fall off.

    If you have an old bill that was sold to multiple collection agencies, I believe that the rule is that if the ORIGINAL credit falls off...all of the collection ones do, as well since the clock is ticking from when you originally defaulted on your original debt.

    Dispute, dispute, dispute.
    Maybe disputing may be a bad idea. Depending on her state, it may be out of SOL (statute of limitations). If that's the case, then she could just write the CRA's (credit reporting agencies) ie. experian, transunion, equifax and inform them that it's out of SOL.







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    God/dess Zabrina's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Thanks for the advice everyone! I'm going to take it and have a look at my credit report and see how much old crap I can dispute and get taken off. What sort of proof do I need to show the CRA's that the debt has expired?

    Is there a preferred site for requesting a free credit report? I assume I'm going to have to check all 3 agencies, so do I have rights to request a free copy from each? I'm really clueless. Way back when things got out of line I just took the attitude of "fuck it," but now that there's a light at the end of the tunnel I'd love to get things right again.

  7. #7
    BrunetteGoddess
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    Default Re: Are these my creditor's last dying throws?

    I believe the site is : freecreditreport.com

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    God/dess cinammonkisses's Avatar
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    Default Re: Are these my creditor's last dying throws?

    https://www.annualcreditreport.com/cra/index.jsp

    This is the sponsored free credit report one.







    Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"


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    God/dess Zabrina's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by CorsicaFire View Post
    I believe the site is : freecreditreport.com
    I thought that was the one that makes you sign up and then charges you $75 for your "free" credit report.

  10. #10
    BrunetteGoddess
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    Default Re: Are these my creditor's last dying throws?

    Yeah, it was actually the one CK posted. However, I've gotten a CR from annual credit report, and also one where I paid $20, and the one I paid for had a lot more info.

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    Featured Member xbloodydewdropx's Avatar
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    Default Re: Are these my creditor's last dying throws?

    instead of throwing out the statements they send, keep them. if these collection agencies violate the law, you'll have proof that they're contacting you re:the debt. if they try to sue you, you'll have paperwork. if they're out of the statute of limitations, you can send them a cease and desist letter (you can do this even if in SOL, but sometimes not a good idea as it can provoke them into action). if they do sue you, which some do even if the debt is time-barred, you can bring up the SOL as an affirmative defense. every piece of info they send you could work in your favor...but definitely don't acknowledge the debt, as Sitri said. creditboards has some good info. re: statue of limitations for your state and type of debt...always good to look up that info. when dealing with these guys...good luck.
    "Seeing the landscape at this superficial level only captures its boring uniformity, not allowing you to immerse yourself in the spirit of the place; for that you must stop at least several days."

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    Featured Member scorpio's Avatar
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    Default Re: Are these my creditor's last dying throws?

    dont waste money on those "fee crdit reports" scams. just go directly to the agencys (www.experion.com, www.transunion.com, www.equifax.com) and get reports directly from them. Then, online, you can dispute bad reports directly with them for free!

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    Veteran Member Obenta's Avatar
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    Default Re: Are these my creditor's last dying throws?

    When a debt is sold to a new company, it restarts the clock on the debt.

    What probably happened is the original company sold the debts because their "clock" was running out...but the "new" company's clock just started fresh again when they bought the debt.

    Try putting the debt into dispute with each credit reporting agency individually. You can do it through their websites. If the creditor can't prove that it's yours, they have to remove it.
    Last edited by Obenta; 05-10-2007 at 01:37 AM. Reason: to add

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    God/dess Bridgette's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by Obenta View Post
    When a debt is sold to a new company, it restarts the clock on the debt.
    No it does not. Federal credit regulations put a 7yr limit on it, and that's that. I have gone through this recently. It's 7yrs, no matter how many times some asshole agency resells it. The ONLY thing that can "restart the clock" is if YOU the debtor acknowledge the debt, make a payment, or something stupid like that. Credit agencies can sell it til the cows come home and it doesn't change a thing.

    Sing along with VenusGoddess now!! Dispute, dispute, diiiiiiissspuuuuuuttte!!!!

    Quote Originally Posted by pheno View Post
    When you lead a nontraditional life don't try to measure it with traditional milestones.

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    Veteran Member Obenta's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by Bridgette View Post
    The ONLY thing that can "restart the clock" is if YOU the debtor acknowledge the debt, make a payment, or something stupid like that.
    Bridgette is right, I forgot about that detail (oopsie!). If you acknowledge the debt, it can keep restarting the clock.

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    God/dess Zabrina's Avatar
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    Default Re: Are these my creditor's last dying throws?

    I've checked my credit report and a few of these bills are indeed expiring this year, a couple more are expiring in '09. Hoooray! Finally my habit of ignoring my problems has worked in my favor.

    The bad news, after my horrible experience with credit in those early years, I've been avoiding cards and just paid cash for everything. Now I look at my credit report and I have nothing good. The car and furniture I financed and paid perfectly on time are not on there, nor is any of bill I've kept up with all this time. It's so not fair.

    So, if most of this bad crap will be gone after 2009 I can start anew. But to begin making my credit look good now I'm going to have to get a credit card and show that I can pay it dependably every month. So if I have to get credit just to show that I can handle it, whats a good card to go with that wont rape me mercilessly with fees? With my business tax id, I keep getting offers for business cards. Will those help my personal credit? Which would be better?

  17. #17
    Sitri
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    Default Re: Are these my creditor's last dying throws?

    I have had good luck with MBNA. But also, my son was sent two credit cards from Citibank for Visa and Mastercard. He never used ithem for two years. I called in and consolidated them into a single $4000 credit limit, got 5% cash back on groceries and gas for two months, and lowered the interest rate.

    They did this because he was going to cancel them. So reseach and negotiate..Good luck.

    A business credit card won't help you if it is under your EIN instead of Social Security.

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    God/dess Bridgette's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Business credit cards won't help your personal credit unless you guarantee them personally AND they report you personally to the CONSUMER credit bureaus. However business credit is usually reported (even with a personal guarantee) to the business credit bureaus, thus not helping your personal credit score.

    If you don't have anything on your credit report at all right now, it might be hard to get a regular credit card. I have had this problem - I cleaned up some really old stuff, and other stuff expired. Meantime, I hadn't had credit in years so when I looked at the new credit report there was nothing on it!

    I followed the advice on creditboards and got a Crown Jewelers account, ordered something, and paid it off. They report to all 3 credit agencies every month. You can open the CJ account online in just a few minutes, they don't check your credit, and it will be an automatic $1500 limit. You order something very small, pay the bill, and voila! Your first good, current account that reports to all 3 bureaus.

    I also got a secured card from my bank and it's been good. Fees are high but I keep it payed down/off so I don't get anally raped. That also reports to all 3 bureaus. A secured card from your bank is generally much better and cheaper than the ones offered online.

    Then I got a Target card. I bought something small on that and paid it off. I'll use it occasionally if I'm going to buy something small (that I already have the money for), then pay it right off, just to keep the account current. So now I have 3 good accounts reporting for me every month. I've subscribed to a credit monitoring program so I can log in and check out my credit report anytime. I can see my accounts reporting each month My score has risen alot!!

    Once your accounts are a year or so old, you should be in good enough shape to qualify for a decent regular credit card.

    This is advice I took straight from credit boards and it's working for me.
    Last edited by Bridgette; 05-14-2007 at 04:50 AM.

    Quote Originally Posted by pheno View Post
    When you lead a nontraditional life don't try to measure it with traditional milestones.

  19. #19
    PhillyDancer1982
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    Default Re: Are these my creditor's last dying throws?

    Yeah it's probably best that she checks into her state's SOL before disputing the unpaid collections. I've heard that if one owes a collections agency a sizeable amount(~$1000 or more), that disputing it will bring the unpaid account to the collection agency's attention, and could result in the collections agency SUING the consumer in civil claims court for the amount. If this happens, it will result in wage garnishment plus add further insult to injury to one's credit report, via note of a Public Judgment.

    But if the collections amount is small, like only a few hundred or less, the collections agency probably can't be bothered to go to court over such a small trivial amount.

    I'm not an expert by any stretch of the imagination...just trying to relay what I've known or heard...but the SOL varies state by state. Most of the states' SOLs for being able to collect on a debt are less than the 7yr SOL for REPORTING the pastdue debt on credit reports. So to the OP: You're probably past the SOL for them collecting your debt, but check into it just to be sure.

    I've heard of collections agencies(and creditors) trying to collect on old debts that were waaaay beyond the SOL, for the chance that perhaps the consumer is ignorant/naive to the SOLs and gets tricked into paying the debt. (That's why it is good to educate oneself on credit issues) Collections agencies are sleazy, and occasionally try any form of trickery(sometimes borderline illegal trickery!) to get people to pay up.

  20. #20
    eyeawry
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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by Bridgette View Post
    This is advice I took straight from credit boards and it's working for me.
    Would you recommend some boards to visit? My credit is miserable, and I know so little about acquiring and repairing credit. I could really use a forum that offers lots of general advice.

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    Default Re: Are these my creditor's last dying throws?

    http://www.creditboards.com/forums/
    ^^This place.

    Bridgette, what is that site you use to check your credit?
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    Featured Member Vamp's Avatar
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    Default Re: Are these my creditor's last dying throws?

    www.annualcreditreport.com is a site where you can get your credit report free once a year. There is nothing to buy at all. I use every year. It will take you to each of the credit reporting agency sites.

    Credit cards are not the only thing that will build credit. Any loan will also. So if your skiddish about credit cards that is another option. The only credit card i would have is thru a credit union. Less fees and less hassle.

    They can send you bills for eternity if they want to. There isn't a limitation on how long they can collect. The limitations only apply to the credit reports themselves.

    Anything negative on my credit report I dispute and it is usually removed. The other party has 90days to respond to your dispute. If they dont respond the item is removed.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    God/dess Bridgette's Avatar
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    Default Re: Are these my creditor's last dying throws?

    Quote Originally Posted by TigersMilk View Post
    ^^This place.

    Bridgette, what is that site you use to check your credit?
    I like to check my credit more than once a year, so I pay for the credit monitoring service which lets me access updated reports whenever I want. Anything fishy shows up, I know it right away and can verify or dispute it if necessary. I use the one from equifax -

    Quote Originally Posted by pheno View Post
    When you lead a nontraditional life don't try to measure it with traditional milestones.

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    Default Re: Are these my creditor's last dying throws?

    Sorry to bring up an old thread, but I just got a bill from a credit card from 2001ish that I totally did default on. What exactly is one disputing on a credit report? It was my credit card at one point! It sounds like you aren't responsible for a bill after 7 years, which doesn't seem right. Or does the smudge on your report just come off at that point, but they can still try and make you pay?

    I've tried the free credit report site, but I can only get equifax. The other one's don't work. But so far, my credit is awful! I am trying to get a handle on all this, but I really ruined my credit when I was younger because I was careless!

    Rose Leigh
    Last edited by RoseLeigh; 06-26-2007 at 12:15 PM. Reason: correction

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    Banned Melonie's Avatar
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    Default Re: Are these my creditor's last dying throws?

    (snip)"Q: What is the statute of limitations on old debt?


    A: It depends on your state of residence. The Federal Trade Commission (FTC) refers to old debts that are beyond the point at which a creditor or debt collector can sue you to collect as “Time-barred” debts. The “window” during which a collector cannot sue you is also referred to as the “statute of limitation” period and is usually between 3 to 10 years after the day of the debt or the last activity date on the account. To determine the last activity date look at your credit report. "(snip)

    go to and scroll down until you find a chart which lists the time limits for each different state. Where credit cards are concerned, they can either be considered as written contracts or as open ended accounts by the creditor.

    Note that the fine print states that these time limits extend from the last date of 'activity' on the delinquent account. Making a payment is considered to be 'activity'. Arguably, anything that causes a new entry to be made re that debt on your credit report also constitutes 'activity'. Therefore, as discussed earlier in this thread and in other threads, if you are close to your state's time limit the best thing that you can do is to simply ignore the bill and duck the creditor while the clock keeps ticking.

    Unfortunately, allowing the debt to 'expire' is not going to help your credit rating. However it will save you quite a bit of money. Also, with the now tightening 'subprime' creditworthiness standards, it is doubtful that paying off this debt would actually improve your credit score enough to make a difference when attempting to obtain a new loan.

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