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Question By
Thisisconfusing

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Should I respond to collections?
I had a debt to JCPenney that was sold to GE Money Bank. I went behind on payments in December of 2008, and it went to collections, then was sold to Cavalry. It has now been sent by Cavalry to Northland Group, who says I owe about $1500.

TU says on my credit report that it is due to fall off in November of 2015. If I contact the collection agency now, will that open up a window for them? Will that make it not fall off in 2015? If I don't contact them, will that hurt me any further than it has?

I have read that debts this close to falling off, are better left to fall off than to try to pay down. Advice? Thanks!

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No, the drop off date never, ever changes.  So you can contact them, pay them or whatever and it will still fall off in November 2015.

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Reply by
ladald

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This is not true. The clock can be restarted any time you contact the debt collection company in most states. As jwsister suggests, research the statue of limitation in your state....

Top Contributor
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I also suggest doing a search for Statute of Limitations on Collections and see what it is in your state.  Go by the date this card first became overdue. In my state (Oregon) the SOL is 6 years, and some have a ten year lilmit, others have a four year limit.  If yous is a 6 year limit, the first payment you make restarts the SOL and the drop-off date. 

If your SOL is less than 6 years, the debt is uncollectable due to expiration of the SOL.

The next move is up to you.

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