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Each state has a statute of limitations on old credit card debts. The statute of limitations refers to the period after which, creditors cannot sue you to collect the debt. The length of time is calculated from your last payment date or last activity date (this is when you last used the card).
Refer to the old debts statute of limitations chart, which details the statute of limitations by Oral Contracts, Promissory Notes, Written Contracts and Open-Ended Accounts. Note that the transient nature of state legislature requires you to verify the statute of limitations period with your State Attorney’s office. For more information go to http://www.naag.org.
In the past 10 years, a growing trend has ensued, where aggressive debt collectors buy old debt accounts and actively pursue consumers to collect the debt, even though the statute of limitations has past. They purchase these accounts for pennies and hope that you will pay up. Even if, you pay $1 on the account – they make a good profit.
This is a violation of the Fair Debt Collections Practices Act. Some creditors even lie and say that the statute of limitations starts from the day that they purchased the debt account. These companies are so bold that some of them will threaten to sue you and in fact proceed with the court case – don’t give in. Others will harass you day and night, use profanity or promise to erase negative marks off your credit repot, if you send in a minimal payment.
If you find yourself in this situation here are a few tips on what to do:
Do not send in a payment – if the statute of limitations is past in your state. Doing so, will make your delinquency look recent. It will also give the debt collectors the idea that you are an easy target and they may attack you on other fronts.
Keep an eye on your credit report to make sure that they are not reporting negative information about you. Your old debt account should not be reflected on your credit report since the statute of limitations is past. If you find that they are reporting the information, take corrective action immediately and fix any errors.
If possible, ignore all contact with the debt collection agency. Do not accept their phone calls. If they send you notices in the mail, you will want to keep these as proof of their harassment.
The Fair Debt Collection Practices Act indicates that there are certain things that creditors cannot do in their attempt to collect debt. Go to http://www.poorcreditgenie.com/answers.html for a list in plain speak. For a complete list, go to [http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm].
Verify the statute of limitations information with your State Attorney’s office and solicit further advice on how to navigate your situation.
Salute Credit Card
In this concise account, experienced touring cyclist Patricia Vance shares the lessons she learned over many years on how to plan, prepare for, and carry out a successful bicycle tour. Whether you’re traveling light and staying in hotels or going off the beaten path complete with camping gear, Bicycle Touring will show you in detail how to handle each situation, all presented in a lively personal style of writing. Unlike other bicycle touring books on the market today, Bicycle Touring does not emphasize the mechanics of the bicycle; after all, there are plenty of good repair manuals available, if that’s what you want. Instead, the book concentrates effectively on the things you really need to know to make every bicycle tour a success. It’s really 20 years of touring experience condensed and clearly presented. This book is illustrated both with diagrams and black & white bicycle touring photographs and contains solid information as well as personal experiences.
Most helpful customer reviews
6 of 8 people found the following review helpful.
 OK, but………
By A
This book has some good information and tips for the cyclist looking to get into touring. Ms. Vance offers some suggestions and ideas that even a seasoned tourist may find helpful. However…this is another example of either poor editing or proofreading, or both. There are just too many typographical errors, grammatical errors, etc. I hate to get hung up on that kind of thing, but it drives me to distraction. It gets to a point where you stop focusing on what the author is saying and start looking for the next missed period, sentence that doesn’t start with a capital letter, or improper word usage. It seems that too many books that I’ve read recently are guilty of the same problem.
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