Can a collection agency harass you for ten year old credit card debt.?

Can a collection agency harass you for ten year old credit card debt.? Out of the blue Portfolio Recovery is contacting me. They claim I opened a Sears account in 1998 and it was active for 3 years. I do not recall EVER having a Sears card.

They want to settle the debt for 200 dollars. They call me daily and have now gotten ahold of my cell #. Any advice on how to handle 'em?

Asked by Tharnpfeffa 12 months ago Similar questions: collection agency harass ten year credit card debt Business > Financial Planning.

Similar questions: collection agency harass ten year credit card debt.

I believe it depends on what state you reside in. I heard Clark Howard discuss the issue on talk radio and he emphasized "not" sending any payment which could invalidate the statute of limitations. In other words the debt period would start anew.

These card companies often sell past due accounts for pennies on the dollar which is most likely the case here.

Ah, thanks, dougie! The Statute of limitations is 6 years in the state the debt was allegedly incurred. It has been suggested that I send a Certified letter off stating: Per the Fair Debt Collection Practices Act, cease all communications with me about this alleged debt.

This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped. Tharnpfeffa 12 months ago .

Very good. You have done what needed to be done, it sounds like.

Excellent website, thanks! Tharnpfeffa 12 months ago .

They may say they want to settle for $200. When they get any sum - even one cent from you, the debit is updated and the ten years does not count. You owe the total amount they claima nd they can sue you for it.Do not send them any omoney or say you owe any money.

Got it, thanks! Tharnpfeffa 12 months ago .

Dealt with that company many times. I had paid them off before I learned that I didn't have to. Then here comes the kickers: Portofolio Recovery sent me a 1099 making me have to pay the taxes on the difference in the amount of the "pay off" vs "the alleged amount I owed them", next (they don't tell you) but this stays on your credit report (as it is still a "bad debt"), finally they called me 5 years later trying to collect the debt again.

Just throw their correspondence in the trash, and tell them not to call again (don't saying anything else, even trying to say the debt isn't yours will let them twist it into opening a case) and hang up. They aren't allowed to call again after that. Portfolio Recovery is a parasite.

This is their system: buy a supposed debt worth $1000 for $2. Next, try to collect the $1000, but if not talk the person down to say $300. Since they can "claim a loss" of $700 on the debt, the $300 is pure tax-free profit.

Wash, rinse, repeat. Sorry they are on your credit report, but they won't go away for seven years, even if you pay them, so don't impower them anymore.

Ok, thanks! Wow, those b@stards. They aren't on my credit report....yet.

Tharnpfeffa 12 months ago .

Yep, they are the worst of the worst because they actually "know what they are doing" when it comes to stealing money through bullying, while staying just shy of being illegal. That's why you have to be careful even talking to them. Even saying something like "I paid that account off" (which I did in one of my battles with them) let's them twist it to: "So this was your account, but you paid it completely?"

Me: "Yes, but it's paid. " Then their line:"Well. I have your voice recorded as admitting this is your debt, the company says you never paid, so unless you have proof, you have to pay it." .

Oh no, what a nightmare! I spoke to them once, and told them I don't remember ever having a Sears card. I never shop there.

They told me to say it in writing and get it notarized. Tharnpfeffa 12 months ago .

I smell a trick. I am not a lawyer, but I think they will use it as grounds to open a case and put it on your credit report. The duel is not between you and Sears anymore and they can't take the "debt" back to Sears and their $2 back, so who are they going to show the notarized statement to?

Themselves? You already told them it wasn't yours. Don't spend your money on a notary and postage, especially since they are probablly going to use it against you somehow.

Hmm. Well, that does make sense. Tharnpfeffa 12 months ago .

Be very careful. There are unscrupulous creeps out there that get your credit info (alas it's not as hard to do as we'd like to believe) and with no other connection to the debt than that, they contact you and demand money. And they use harassing and often illegal tactics because the know many people will give up and pay.

Don't react to them at all. Don't respond, just hang up. You might contact Consumers Protection in your area if you have it to see if you have any legal tools to use.

Believe me, they will give up and move on to other victims if you are steadfast in refusing to interact with them. Good luck.

Thanks! It has been suggested that I send a Certified letter off stating: Per the Fair Debt Collection Practices Act, cease all communications with me about this alleged debt. This letter has been mailed via Certified Mail with Return Receipt.

Receipt of this letter is being officially time stamped. You think I ought to forget about it? Tharnpfeffa 12 months ago .

They're creeps, but they certainly don't want to waste their time harrassing the wrong person. Tell them to stop calling you, because you're not the person with the debt, plus they HAVE to stop if you ask. Let them know that you know that's illegal for them to continue.

Once they realize that (1) They can't squeeze anything out of the wrong person and (2) It might even COST them money, a fine, if they contiinue to do so, you won't ever hear from them again! .

Thanks! I can't believe they got my cell phone number. I'm learning so much today, you guys are great.

Tharnpfeffa 12 months ago .

Three collection agency brought my debt who do I pay.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.