I was served a summons from an MRC Receivables Corp which bought my debt from a long ago credit card. I haven't used it since 1998, but they somehow found me.
My question is: Should I call the law firm who is representing this MRC and try to make a payment deal with them?
They're suing me for 7050 + 1285 in attorney's fees.
My original debt was 4000.
Anyone have a word of advice?
Thank you.

Do not offer to settle or to pay one penny. Check your state code but I'd guess that the statute of limitations has run out on this debt. They can not force you to pay. Any offer on your part would restart they statute so don't offer anything. Did you really mean summons or was it an attempt to collect letter. If it's a summons you must appear in court. Tell the judge the statute has run out.

Oh, it's definetely a summons. I used to be a process server.
Ironic, huh?

I'll check my latest credit report to see what activity there is.

There's no court date on the summons?

Do I have to call the court to make a date?

Thank you very much.

Quote:

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Originally Posted by ballengerb1

Do not offer to settle or to pay one penny. Check your state code but I'd guess that the statute of limitations has run out on this debt. Tell the judge the statute has run out.

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How do they count the time for limitations?
Since my last payment or my last charge?
There first collection was opened on it in 2001, but not to my knowledge.
There was also another collection agency who have since hired to lawyers to serve me the summons. They opened their case in 2003.
I have spoken with neither of these people.
Thanks, Denise

Also, Transunion said it was charged off as bad debt in 1998.
But if it was charged off, why did it reopen in 2003 with a collection agency?

The collection agency bought the old bad dept for pennies from Transunion. It may have been written off but that doesn't mean it disappears forever. It is still a legal dept but after the statute runs out they can not seize bank accounts, garnish for lien. They have not way to force payment. Statutes vary from state to state and whaat type of debt but general trhe statute runs from the last acknowledgement by payment. The last time you paid Transunion. "There first collection was opened on it in 2001" Did not know there was a previuous collection. They could have had yopu on that one since the statute was running. Can you tell me more about the outcome of the first collection?

The transfer of the debt shows up on the Transunion credit report as 2001 which was sold to Midland company.
I never paid a dime after 1998 when the credit card was still with Providian.
It looks like Midland sold it to MRC in 2001.
So, I haven't paid anything since 1998 or 1999.
Now I have been served a summons from a Law Firm in Concord, CA which is representing MRC.
Thanks for helping me.
I am not opposed to making payments to them, but since the original charge is only $4000 and now it's 7050 + 1285 in attorney fees.
I'm not sure what to do next.
I have 30 days since yesterday the 15th.

It is entirely up to you at this point. You could make a settlement offer but that will restart the statute and you may face the $8300 bill. Yiou could also walk away if I've understood all of your facts. Good luck with whatever you decide.