     CANDICE MCNALLY (Candie) | Saturday, August 19, 2000 - 03:09 pm 
I need advice. I just received a letter from an "aquisition" firm that claims to have purchased a judgement debt from First Card Services that took place back in 1989 (judgement date). They want me to settle the debt directly with them to "help clean up my credit and legally satisfy the debt". In return, they will mark the judgement (which does not exsist on any of my credit profiles) "Satisfied". My credit is squeaky clean, 700+ fico score with a recently obtained mortgage in excess of $190,000. There is no mention of this company or First Card on any of the three credit bureau reports, since the seven year rule was applied. My question is this: If I respond in any manner to this communique will I possibly start the seven year clock all over again? Is the statue of limitations effective in this case since the last action taken was over ten years ago (NY State)? Over the years I followed the advice of this and other boards and with patience and good information managed to achieve a perfect credit file. I just want to make sure I am correctly handling this situation without endangering my profile and hard work. Thanks for your input! PS- I now live in another state-will this effect their collection efforts?
Candie |
| Morgan Appel (Downinsocal) | Monday, August 21, 2000 - 06:51 am
Hi Candie--
As far as I know, the SOL is up. Give the acquisition firm the big kiss off is my advice--send them a C+D--this is an eleven year old debt!
But, peruse the site to gain the wisdom of the more seasoned experts--senator, the Christines, etc. |
| Don Semler (Dsemler) | Friday, August 25, 2000 - 07:06 pm
I wouldn't respond at all. By responding, you are giving them information on where you live(ie confirming for them your address). I would wait for the 2nd or third letter before you respond with a C+D.
Though the SOL has expired, I'm sure they catch a few people who come back and pay.
My guessis that they are "shotgunning" out a bunch of mail to see who responds.
If it were me, I'd wait a bit. |
| Christine Baker (Admin) | Saturday, August 26, 2000 - 12:35 am
Don has a good point. And while the SOL is up on the original judgment, I don't know whether that judgment could be renewed in NY. In some States the SOL never happens as long as the judgment is renewed. Check into that, they could probably place a lien on the house if it's valid. |
| Scott (Scott) | Monday, August 28, 2000 - 03:41 pm
Doesn't the judgement have to be renewed before the SOL is up? Once it's done, it's done. Right? |
