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Member Since: June 2014

Most Helpful Contribution

How to dispute an error on your credit report

Jul 30, 2014
Helpful to 8035 out of 8692 people

I just want to call to everybody's attention something VERY IMPORTANT I learned about accounts in collections, etc. ---- and the advice I I often hear on posts like these, where someone says,  "just call the lawyer's office to ask about it...." or "just call the company....", "just call the credit card company", etc.  That is NOT always good advice!!!!  That can be VERY BAD ADVICE.  The reason is, there's a STATUTE OF LIMITATIONS on all debts.  I think if it's a "written" agreement, like a credit card would be, then the statute is 4 years (could be different state to state, I'm in California). 

Anyway, after the statute has run, meaning after 4 years - FROM YOUR LAST CONTACT WITH THEM - they can no longer sue you for that debt!!  But!!......IF YOU CALL THEM (or contact them in any way) about the debt ....that date it STARTS THE STATUTE TO RUN ALL OVER AGAIN!!  In other words, from the date you called them -- they now have 4 YEARS from that date that they can sue you.  This is really important!! 

If, for example, 3 yrs and 11 months ago was the last time you talked to that debt collector, credit card company, lawyer, or anyone else that's tried to collect on the debt, or who you owe the debt to, then it's NOT in your best interests to call them....because they only have 1 mo left wherein they can sue you.  Whereas, if you call them, they then have 4 more years to try to collect on that debt & to sue you!!!

I'm not a lawyer, this isn't legal advice, this is just what I learned about the law on my own.  Hope it helps.

Activity (1 Total Contributions)

How to dispute an error on your credit report

Jul 30, 2014
Helpful to 8035 out of 8692 people

I just want to call to everybody's attention something VERY IMPORTANT I learned about accounts in collections, etc. ---- and the advice I I often hear on posts like these, where someone says,  "just call the lawyer's office to ask about it...." or "just call the company....", "just call the credit card company", etc.  That is NOT always good advice!!!!  That can be VERY BAD ADVICE.  The reason is, there's a STATUTE OF LIMITATIONS on all debts.  I think if it's a "written" agreement, like a credit card would be, then the statute is 4 years (could be different state to state, I'm in California). 

Anyway, after the statute has run, meaning after 4 years - FROM YOUR LAST CONTACT WITH THEM - they can no longer sue you for that debt!!  But!!......IF YOU CALL THEM (or contact them in any way) about the debt ....that date it STARTS THE STATUTE TO RUN ALL OVER AGAIN!!  In other words, from the date you called them -- they now have 4 YEARS from that date that they can sue you.  This is really important!! 

If, for example, 3 yrs and 11 months ago was the last time you talked to that debt collector, credit card company, lawyer, or anyone else that's tried to collect on the debt, or who you owe the debt to, then it's NOT in your best interests to call them....because they only have 1 mo left wherein they can sue you.  Whereas, if you call them, they then have 4 more years to try to collect on that debt & to sue you!!!

I'm not a lawyer, this isn't legal advice, this is just what I learned about the law on my own.  Hope it helps.