debt collector calls - debt is 10 years old - WTF? - Page 4

Dale Dough · #31 05-23-2007, 04:23 AM

So if I run up several tens of K's of credit card debts (not that hard to do for a US citizen right?) and move out of the country, then back in seven years, I'm untouchable?

That is, if they send a collection agency, I can tell/write them to go [censored] themselves. If they take money/stuff/break my legs, it's just like they did that out of the blue for no reason and I can sue them?

That sounds like one [censored] up system to me...

Mike Gallo · #32 05-23-2007, 09:47 AM

[ QUOTE ]
Also, don't ever tell them that you are going to pay. If you do, that starts the 7 year clock again.

[/ QUOTE ]

Wrong

blinden84 · #33 05-23-2007, 09:58 AM

[ QUOTE ]
[ QUOTE ]
Heres some advice from someone actually in the business..

..A $27 delinquency dont mean [censored]....and paying it can bring it back up as a paid negative score, and not only legally will they not be able to do anything because it is outside the statue of limitations

[/ QUOTE ]

Is your business masonry?

[/ QUOTE ]

http://en.wikipedia.org/wiki/Freemasonry

http://en.wikipedia.org/wiki/Masonry

punkass · #34 05-23-2007, 10:33 AM

[ QUOTE ]
So if I run up several tens of K's of credit card debts (not that hard to do for a US citizen right?) and move out of the country, then back in seven years, I'm untouchable?

That is, if they send a collection agency, I can tell/write them to go [censored] themselves. If they take money/stuff/break my legs, it's just like they did that out of the blue for no reason and I can sue them?

That sounds like one [censored] up system to me...

[/ QUOTE ]

Yes. Keep in mind that moving somewhere else and living for 7 years is not just a "I can do that" thing. And you'll have a hard time getting loans for mortgage, car, credit cards, whatever.

SixT4 · #35 05-23-2007, 11:29 AM

I'm disappointed. I thought this thread was going to be about a debt collector calling at your house to collect some debt, and the debt collector is a 10 y/o kid.

luckyjimm · #36 05-23-2007, 11:35 AM

I owed £10 to eBay once which got passed on to a collection agency... the agency called me up every goddamn day (I only answered the phone the first time). You realise that your number's at the top of a list & it's gonna stay there, and there are people going to work each day who're going to keep on calling you.

However here in the UK just in the last few days there was a court case where one of the banks were found guilty of harassment and had to pay a woman damages after their collection agency pursued these sorts of tactics. So they might call you every day but you can get them in trouble for doing so.

But, ultimately, you have to pay up what you owe, unless you can skip the country. I had a friend move from London back to Italy leaving thousands in credit card debts and utility bills; it didn't worry him at all since he knew he'd never live in the UK again. They'll just have to write the debt off since he'll never pay a penny.

Mike Gallo · #37 05-23-2007, 11:36 AM

Hey everyone,

I have worked in the credit and collection industry for close to 20 years.

Debt does not go away. Yes, certain states have different statute of limitations, however the debt does not go away.
The statute simply means that the account can no longer get reported to the credit bureau or for legal action. It does not mean the debt goes away.

In OP's case, $27 is an insignificant amount to try and collect. However imagine if hero incurred $27,000 worth of credit card debt six years ago.

Two more years go by and its now eight years total and hero has gotten his life together. He wants to do the right thing.

Company A bought the $27,000 for .75 on the dollar for a total of $202.50. Company A contacts hero and offers to settle for $2700. Hero wanting to relieve guilt counters with $2000. Company A agrees hero pays and they both part ways.

If hero does not settle the account, but somehow makes a payment on the account, the statute has restarted.

RunDownHouse · #38 05-23-2007, 12:11 PM

Mike,

Is it true that you can tell them no payment unless you have it in writing that they won't pursue further action, such as reporting to a credit agency or filing a lawsuit, and (if they sign), they have to follow through?

Mike Gallo · #39 05-23-2007, 12:56 PM

[ QUOTE ]
Mike,

Is it true that you can tell them no payment unless you have it in writing that they won't pursue further action, such as reporting to a credit agency or filing a lawsuit, and (if they sign), they have to follow through?

[/ QUOTE ]

Yes, ask the agency for a settlement letter. This will stipulate the amount of the settlement and the date the settlement is due. A collection agency cannot coerce a consumer to pay by offering to delete/expunge the account from the consumers credit report. This violates the contractual agreement between the collection agency and the credit reporting agency ie Experian, Equifax, Transunion.

This will protect both parties.

The X-Factor · #40 05-23-2007, 01:12 PM

[ QUOTE ]
[ QUOTE ]
I would just send them a picture of 27 dollars.

[/ QUOTE ]

...best things I have ever heard someone do is

Send 7k in monopoly money with derogatory filth written all over them

and

A company had agreed to pay for the overnight service and gave to guy there account number and the debtor send a huge box of bricks

[/ QUOTE ]

I like both ideas of sending a picture of the money then when they call back send them monopoly money the next time. At least you get a classic story out of it.

X