Does anyone in the forum know anything about credit card deliquent accounts?

All of a sudden I've started getting calls about an account from "1987" that was never paid by my ex-wife (both names were on the account). I've been through 7 years of the bad credit thing because of it.

My credit reports today are damn near perfect and show nothing of this old debt or anything else from that period in time.

I'm just trying to figure how they can come after you after 17 years??? Most states have a statue of limitations usually between 4-6 years.

Any inputs???

Thanks

 

No, but I would wonder if it's all a scam. Perhaps a try for identity theft? Especially if you are getting calls and there is nothing in writing from the bank or whomever.

 

Don't think so... I did a *69 and called back. It's a credit collection outfit.

 

A lot will depend upon how your divorce decree was drawn up. If you have the total responsibility for the old debts, you owe it, and there really is no time limit on the debt. If it was 50-50 with you and your ex, then she owes her half. If it is her debt, you are clear.

Practically, call them and tell them you will settle, right now for 50%. You would be surprised how willing they will be to play "lets make a deal". But get it all in writing before you send them anything. And I would not give them any personal information over the phone.

Been there and done that......

It took me 10 years to get out of the hole my ex put me in.

 

This may come a little too late. I worked as a collection agent and I can tell you that most states do have statute of limitations. This applies only to the company which granted you the card and it most pertain to the time in which the company can fully write the account off and receive whatever tax it has coming. However, a collection agency can buy the account for a penny on the dollar and attempt to collect the monies owed, plus the collectuion for as long as it wishes. After seven years the account will be removed from your credit report. If you are sure that account is not on your credit report you may ask the collection agency to cease and desist all contact. By law they must.

**Note** If you pay any money at all to the account the seven year period resets.

 

Statute of limitations takes effect as long as you don't promise any payment terms with the debtor or collection agency. Maybe your ex-wife has been promising the collection agencies that this account will be paid everytime they try to collect which is usually close to the expiration of the statute of limitation. If anybody does that ( promise payment ) then your debt will be reactivated again and will become outstanding. Good luck!

 

Thanks for the inputs... already got most of the answers. The clock on the debt does not restart until you make a payment. also it can not be put on your credit report until you start making payments. Talked with a few folks at the Att General's office and the banking commision here in Phoenix.. Also a local TV station did an article about these "Ghost Debts" that are way past SOL... Seems like there has been an increase of these agencies trying to strong arm people to make money on old debts they bought for pennies on the dollar.

 

With the rash of personal bankruptcies over the past few years, this sort of activity will be on the rise I'm sure. I wouldn't put it past some of the unscrupulous vultures out there to "speculate" even on discharged debt and then chase people down with harassing letters and phone calls in the hopes people will just pay them off to stop bothering them.

 

I would speculate back at the ones that bought the dedt they would probably be happy to brake even!