I had a credit card about 14 for 15 years ago, which I assumed was written off. Now,last week I have another collection agency trying to collect about 5000 dollars... the original limit on the card was only 800! What do I do about this and how do I find out the date for when that statute of limitations would start. I live in a state that has a 15 yr. statute. Any advice? I find it absurd that some collection agency can try to collect 5K for an 800 debt from that long ago.

Thank you!

First even if the SOL is over, they can always attempt to collect the debt for the rest of your life. After the SOL they just can not sue you in court and get a judgement.

But while 5000 is a little high on a 800 dollar debt, what you would have is a lot of late fees, a lot of over the limit fees, then legal fees,
Now on the other hand if it is outside of the SOL there is nothing they can do.

Quote:

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Originally Posted by dvlgrl

I had a credit card about 14 for 15 years ago, which I assumed was written off. Now,last week I have another collection agency trying to collect about 5000 dollars.....the original limit on the card was only 800! What do I do about this and how do I find out the date for when that statute of limitations would start. I live in a state that has a 15 yr. statute. Any advice? I find it absurd that some collection agency can try to collect 5K for an 800 debt from that long ago.

Thank you!

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Did they call you or send you something in writing. If they called, tell them to put it on paper. When you have something written from them, post some of the details. Although the SOL may not be up, they probably do not have the info they need to validate the debt.

Hope this helps!

LG

PS. DO NOT, UNDER ANY CIRCUMSTANCES, make any sort of agreements or arrangements until they can prove you owe the debt!!