Steve
Bradenton,#2Consumer Suggestion
Fri, December 08, 2006
Brandy, The ONLY thing that 7 years applies to is the amount of time a creditor can report a negative item to the credit bureau, It has nothing to do with collections actions. The maximum statute of limitations in FL is 5 years from date of charge off or last activity if it was not charged off. SOL varies from state to state, and is usually determined by the state in which the account was opened. BTW, NO SOL in any of the 50 states is 7 years. Most are 3 to 6 years, and then there are some that are 10 and some that are 15. And, it is the FDCPA which regulates third party debt collectors, and it is the FCRA that regulates credit reporting. You can go to ftc.gov to read these acts, and also can file a complaint against them online. NEVER speak to any debt collector on the phone, and NEVER pay a third party debt collector without first obtaining debt validation. Any payment or attempt to pay will validate the debt and make it legally collectable, where it may not have been before, and will reset the SOL. These lowlife are JUNK DEBT BUYERS who buy very old usually uncollectable debts for less than a penny on the dollar.
Brandy
Paisley,#3Author of original report
Thu, December 07, 2006
This company is in the U.S.A., not Uganda. Just wanted to make that clear so no one gets confused!