Debt Collectors Calling for Old Accounts

by Rob
(houston texas )

I have just been contacted by to companies for debt that is from 98 I know the accounts are older than the seven year date. Do I need to respond to the bills for debt that should be gone??

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Oct 19, 2009
How to handle old debts when collectors call
by: Gerri

Rob,

The seven year time limit actually refers to how long a collection account can remain on your credit reports (actually it's 7 years and 180 days from the date the original account was delinquent). But that is different from the statute of limitations, which refers to the time period under state law that collectors can sue you to collect.

If the statute of limitations has not expired, then it would be a good idea for you to work something out with the collectors so that you don't risk being sued. If the statute of limitations has expired, then you can send the collectors a letter telling them not to contact you again, explaining that the situation. They would then only be able to contact you to take legal action, which would be highly unlikely. (Unless your information was wrong.)

Either way, you'll want to monitor your credit reports to make sure these debts don't appear on them. And also keep copies of their correspondence and any letters you have. It's not unusual for these old debts to be sold and taken up by other debt buyers years later.


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