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Message
re: Just got dealt a low hand (wife's old CC from 5 years ago)
Posted on 10/5/15 at 12:53 pm to MMauler
Posted on 10/5/15 at 12:53 pm to MMauler
quote:
ETA: Just read the rest of this string. Whether it was in Louisiana (3 years) or Texas (4 years), the statute has run. If you pay it off, you'll start the 7 years on your credit history all over again. Just let it fall off. Whatever you do, DO NOT engage in negotiations or acknowledge the debt in any way - you may start the 7 years all over again.
This is what my point is. Whatever you do DO NOT listen to any of the other advice in this thread. It’s horrible advise and will greatly affect your wife's credit. The amount in question was obviously already charged off and sold to collection agencies that just hope you listen to the other posters at your own downfall. Never re-age any debt that has run through its SOL. If the CC Company wanted to sue they would have done so prior to SOL. Most likely they wrote the amount off and a legal case was not worth it to them.
This post was edited on 10/5/15 at 12:55 pm
2
Posted on 10/5/15 at 1:17 pm to Catman88
Yeah if the SOL has run out, send a cease & desist letter to the collection agency. There are many templates online. Send it certified so you have a record of it If they try contacting you after that, you're entitled to $1000 per incident.
But they'll probably just sell it to another collection agency and you'll have to go through that process again.
But they'll probably just sell it to another collection agency and you'll have to go through that process again.
Posted on 10/5/15 at 1:18 pm to Catman88
I am a bit surprised to see many of the responses on this board advising not to pay the debt. I would have a big problem with it, just from a moral perspective. It's sort of like your wife stole several thousand dollars a few years ago. As time passes, the 'sin' seems less and less "real," I guess. You had the right intentions coming into the discussion - stick with that. 
p.s. I would be curious as to whether the ranges of feedback ("don't touch it and you'll be fine" vs. "do the right thing and pay the debt you/your wife owe") fall into common political, generational or social groups.
p.s. I would be curious as to whether the ranges of feedback ("don't touch it and you'll be fine" vs. "do the right thing and pay the debt you/your wife owe") fall into common political, generational or social groups.
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