Hey, I am with you all the way on that one. I have a few creditors sending me ooooollldd collections, but I am just dying to wait for a repeated derog on my report. The court room will be off the hook. If you know that your state does not allow a duplicate co on your cb, then i would not worry to much.

Thanks Meya, but I have no plans of negotiating with them. This issue is clearly out of the SOL and it has already fallen off my reports.

I have an absolute defense and if they sue, I will respond, hire an attorney and show up.

Kmoney, I checked out the website and I contacted the only a ttorney. I was screened by the screener and determined that they could not help me as get this, 'my household made too much money'.

Wow, that's weird, you would think that is when they would want to do business with you. I really hope that you get this resolved in your favor, but if all else fails, have you ever thought about settling this yourself with them on payments? We have Mary Tomkins as our article writer and trust me she is pretty good with question. In fact, she has been waiting on us to ask he some questions or share some facts. I have read something that might relate to what you are saying in the banckruptcy article (Not saying that bankrupt is what you are assumng) which she tell us]Try to negotiate with your creditors.[/B] Explain to your creditors that you want to pay them, but you cannot afford the required payment. Be honest with them and let them know what events in your life have affected your financial situation. You might be able to have your payments reduced or your interest rates lowered. Especially if the account has already gone to a collection agency, they might be willing to accept less than the amount you owe if you can pay it in one lump sum. Creditors will often do what they can to help you pay at least part of what you owe; they know that if they don’t work with you, and you file bankruptcy, they won’t get anything.

Seek the help of a reputable nonprofit consumer credit counseling service (CCCS). You can find the nearest CCCS by calling (800) 388-2227 or by visiting www.nfcc.org . The new bankruptcy law requires that people filing for bankruptcy go through credit counseling within six months before filing, so if you still think bankruptcy may eventually be the choice you make, you should go through an agency that is approved by the U.S trustee for credit counseling in the bankruptcy system. In repayment plans arranged through credit counseling services, you generally make monthly payments that are distributed among your creditors. You might still have to pay interest on some or all of your debts, but in many cases, creditors may be willing to waive or reduce interest charges and delinquency fees if you ask them to.

Here is the acutal link https://www.financeglobe.com/Finance/Articles/articles/18/1/Are-You-Considering-Bankruptcy/Page1.html You can also use the search bar to find out more or email her with a question.

Now you know what I remember an attorney telling me that from the NACA. She gave me excellent advice but she said that they only take cases from those who are poor/poverty stricken.

But not all of the NACA attornies are like that.

Another NACA attorney that I called was talking $$$

Looks like they don't want to do business with you.

Kmoney, I checked out the website and I contacted the only a ttorney. I was screened by the screener and determined that they could not help me as get this, 'my household made too much money'.

Say What?

Kmoney, I checked out the website and I contacted the only a ttorney. I was screened by the screener and determined that they could not help me as get this, 'my household made too much money'.

Shark6 whatever happened with Portfolio?

You said]

Why don't you go the NACA Lawyers website] www.naca.net you can search for a lawyer in your area where you live

You said:Some people think that it can be restarted if you make a payment or try to come to a settlement. Laws differ from state to state, but I don't think that's possible in any of them.


I've researched this quite a bit and I believe that the SOL can be reset if one affirms the debt or make a payment towards the debt. The preceeding two things can absolutely restart the debt which is why CA call, call, call to get the naive consumer to 'shoot themselves in the foot' so to speak.

Even sending in a partial payment or saying that this debt is yours or agreeing to settlement can restart the SOL.

As this alledged debt is clearly beyond the SOL, it would be unwide for PRA to sue me. However, as you stated, for such a large amount of money they may try and for that, i will call an attorney.

I don't beleive they can do that. For the SOL to start over the contract would need to be either modified or reinstated.

Some people think that it can be restarted if you make a payment or try to come to a settlement. Laws differ from state to state, but I don't think that's possible in any of them.

The terms of the agreement should be set in the state that you live, not the state of the creditor. If you've moved from one state to another, it could possibly complicate things.

Good luck, and let us know how you make out. Remember that lawyers fees can vary ridiculously from one attorney to another. Since you're not trying to mount a murder defense or anything severely important, I would simply go with the cheapest one available.

Well seeing that the cost of a phone call to an attorney is free, I will take your advice and call 2 to 3 today. I have some time off so perhaps I can find an attory who would draft a letter for me for under $150. I think $200 is too much.

The DOLA is towards the end of 2001 and that would make the debt almost 7yrs old. My only concern would be the possibility of 'tolling' seeing that the debt occurred in one state and I live in another. The state which the debut occured SOL is 3yrs and the state where I reside is 4yrs. It's an oral contract and even if by some miracle they thought it was a written contract, they would have to reproduce the agreement with my signature and still the SOL for my state for a written contract is 5years so on all accounts, i'm past the SOL.

My belieft is that they are calling to get me to talk on the phone so I can slip up and restart the SOL.

I'll keep you posted.

The statute of limitations in NJ is 6 years. The debt was only 2 years old. They would have sued me for sure - in fact, civil suit papers crossed in the mail.

I realize that you did some reserach and determined that you were past the statute of limitations, but realize that laws change, things can get grandfathered, and there are tons of loopholes.

I'd hate to see them place a judgement against you for 25k, and be able to garnish your paycheck or go after your real property, when you could have gotten a (possibly free?) consultation from a lawyer that is an expert in the laws of your state.

If it was $1500 I'd say to go it on your own...but for that kind of money, if they have a right to collect (even if its a small chance), they can take your house, car, freeze your bank accounts, and generally be a pain in the butt for a long time.

Wildrage2, may I ask if you were past the statute of limitations? Because if you were, why would you settle.

I have researched this and I know that I'm out of both states statute of limitations.

I have simplified the letter to where I'm just saying that I dispute the debt in it's entirety and that the alledged debt is out of the SOL and to cease and decease from contacting me.

I do know that debt outside of the SOL can be defeated by presenting the SOL defense which is absolute.

I'll take my chances and I do know that under no circumstances will I ever talk to a collection company or agent.

Everything is done through mail CMRRR.

I've dealt with Portfolio in the past. After about 1 year they referred my account to an attorney - and at that point I settled with them for approximately 35 cents on the dollar. My amount owed was a lot less though - I think it was around $2400. My guess would be that they probably bought your debt for around $1500.

As a third year law student, I would definately suggest you get a lawyer to help you out. It doesn't have to be a good lawyer - find the cheapest one you can without retainer. I'm thinking they would bill you anywhere from 1.5 to 3 hours for a basic letter, at around $100-$200 /hr.