d.sims2
Apr 1, 2010, 11:49 PM
I was served papers to appear at a pre-trail on April 27th - Capital One credit card debt was last paid to Capital One in Oct, 2006. Balance due at that time was $4,360.00
Debt was paid down to a prior debt collector - balance due was paid down to $1,427.
I could not afford further payments, meanwhile sent a letter asking for debt validation under the guidelines of the Federal Fair Debt Collection Practice Act and heard nothing further from the collection agency.
They sold the debt to another collection agency. The order was filed by Zakheim & Associates, PA. (New debt collector) in Broward County, Florida for $528.92 plus 19.9% interest starting 10/7/09. Further order says defendant had agreed to pay reasonable attorneys fees in this matter as per credit card agreement.
Zakheim & Associates is stating that their reasonable attorney fees is $300.00 as stated in the pre-trial order.
Pre-trial is in 27 days. I am unempolyed and would like to settle for a small amount of money or find a way to walk away from this debt. I have just today written to Z & A asking the amount they paid for the debt and their last know payment on this debt, and when they purchased the debt, in hopes I may settle with them for only a small amount of money above what they paid for the debt, assuming the statute of limitation does not apply here.
Can you tell me the statute of limitation on credit card debt?
Further advise with the thoughts and comments based on what has transpired over the course of events. Thank you.
Debt was paid down to a prior debt collector - balance due was paid down to $1,427.
I could not afford further payments, meanwhile sent a letter asking for debt validation under the guidelines of the Federal Fair Debt Collection Practice Act and heard nothing further from the collection agency.
They sold the debt to another collection agency. The order was filed by Zakheim & Associates, PA. (New debt collector) in Broward County, Florida for $528.92 plus 19.9% interest starting 10/7/09. Further order says defendant had agreed to pay reasonable attorneys fees in this matter as per credit card agreement.
Zakheim & Associates is stating that their reasonable attorney fees is $300.00 as stated in the pre-trial order.
Pre-trial is in 27 days. I am unempolyed and would like to settle for a small amount of money or find a way to walk away from this debt. I have just today written to Z & A asking the amount they paid for the debt and their last know payment on this debt, and when they purchased the debt, in hopes I may settle with them for only a small amount of money above what they paid for the debt, assuming the statute of limitation does not apply here.
Can you tell me the statute of limitation on credit card debt?
Further advise with the thoughts and comments based on what has transpired over the course of events. Thank you.