I was recently contacted by a collection agency. I was told that they had bought my credit card account from Providian. To my knowledge I have never had an account with Providian. I was told the account was opened August 2000 and that the collection agency bought it in 2004. I have not said that the account was mine and I have also not made any payment arrangements on this account. Is there a time limit on credit card accounts? If an account is not paid during a certain period of time what are the options? This collection agency is very determined, they have called several times, even on Sunday's. They keep pushing for a settlement, yet I have not received anything proving the account is mine. What kind of options do I have to take care of this matter.

twinkiedooter

First pull your credit report to see if this debt is even on your report. The next time the collection agency calls demand that they put everything in writing to you and then hang up. Try that for starters.

JudyKayTee

Statute is different in different States - what State are you in? If there has been no activity in 8 years it would appear to be out of Statute in most - if not all - States.

ScottGem

Next time they call, tell them, that under the FDCPA you are informing them that all future correspondence be by mail. Als that you will not discuss this any further with them unless they produce verification that this debt is yours.

ballengerb1

Many collection agencies buy debts that they know are beyond the statute of limitations. They buy them for pennies on the dollar because they are near worthless. Why just near worthless? Because they go on a fishing trip and just see if anyone bites. If you slip and offer to make any payment option or pay one penny your statute clock restarts. Mum is the word.

excon

Hello n:

In the very first letter they sent you, and I'm sure they sent you a letter, at the bottom of the letter is says something like: "this is an attempt to collect a debt. You have 30 days within which to request verification. If you don't respond, blah, blah, blah."

If those 30 days expire without you having acted, then the debt is legally considered yours. From this point forward, they only have to produce the verification (if they have any) in court.

So, if the debt isn’t yours, let them sue you. If it IS yours, I'd settle. If you think the statute of limitations has expired, go to court.

I'm not sure I buy your recent memory lapse, either. If it were me, I would know, without a doubt in my mind, whether I ever had a Providian account and whether it was paid off. And, I'm a dumb exconvict. Surly, you're smarter than me.

excon

PS> Do what Scott suggests too. Then all they can do is sue you. Keep in mind, that if it IS your debt, with legal fees and court costs, it can easily DOUBLE from what it is now.

You should also do some reading around here to see what they can do to you IF they get a judgment. It ain't pretty.

Do you feel lucky?

twinkiedooter

Fishing expeditions are great for these companies to weasel money from unsuspecting people. Just insist everything is done in writing to you and hang up on them when they call. If you don't show these people as a creditor of yours on your credit report, you don't owe them a dime.

JudyKayTee

Confused by this - does a creditor HAVE to report a debt to the credit report companies in order to collect? I thought they didn't have to - sometimes the credit report companies pick it up and sometimes they don't. This is why estate work and bankruptcies are so tricky - everything may not be reported to a credit agency.