Collection Companies (legal)?
I just got a notice from a collection company that is representing a small the video stop that i rented from years ago (2003).. There are saying that that I owe them 52.00 (most lates fees) from 2003 and heres the kicker I never ever ever got bills or notices till yesterday form a collection company. I pulled my credit and it was on there as a adverse action from this company in FEB… I moved a couple times but that shouldnt of mattered since I always went to usps for immediate address changes.. Since all this I have got loans and im sure this has messed up my rates and etc… I pay my bills on time but how can u when u never get the proper notices as I wouldnt run from paying ANY bill… What do I do?
Tags:address changes,adverse action,collection company,couple times,kicker,loans,proper notices,uspsRelated posts
Tagged with: address changes • adverse action • collection company • couple times • kicker • loans • proper notices • usps
Filed under: adverse credit loan
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Don’t blame the USPS for this you should have read the small print when you signed the account for the video. The original company where you incurred the debt is no longer in any control of your account. They sold it to the collection company for pennies on the dollar. Collection companies buy bad loans and accounts from whomever at cheap prices then they go after the debtors to make a big profit. It is perfectly legal. They can ruin your credit so it is best to pay that devil.
Do not respond to the collection agency because the debt may be time-barred by the statute of limitations. So, even if the debt was valid, it may no longer be enforceable and that is something that they are not required to tell you. Check here for the statute of limitations for your state. http://www.creditinfocenter.co.....ions.shtml
I would suggest that you send them a simple letter in accordance w/ the Fair Debt Collection Practices Act and tell them that they may no longer contact you regarding the disputed debt. They are then required to stop contacting you. if they wish to file a suit, which is not likely, then at that time you can raise your defense of the statute of limitations and the doctrine of laches. you may have other legal defenses as well.
good luck