Negotiate a Debt Settlement

is there a statute of limitations on credit card debt collection? Accts were closed in 1999?

1999. what happened was ex maxed out five cards with atm transactions before leaving in 1998. I cashed in retirement money and settled four, ran out of money for fifth. These were all settled in 2000. Was negotiating for settlement on this last one when they cut off contact in 2000. Just heard from another collection agency who purchased this account. They want payment of this old account.

Public Comments

1. i do believe that it is 7 yrs then it is gone
2. The link below gives the statute of limitations for each state. They are all differant, so check the list. Send the collection agency a letter ordering them to quit bothering you. Use the second link below, it contains some sample form letter that will help you. Good luck.
3. There are different issues which your question refers to. 1) There are limitations on the amount of time the creditor or owner of a debt can sue a debtor who has defaulted on his loan. Those dates vary by state. 2) Unless the creditor removes the negative reporting (which can happen through negotiation); federal law states that the negative information should only stay for 7 years; however, that is usually from date of last activity.
4. the statute of limitations only dictates the amt of time they can sue you....but they still can and you have to fight it with the defense of Statute of Limitations and you'd win. ..... BUT they can collect the debt til you die. Luckily collection agencies get frazzled when they cant skip trace you so if you want to get them to leave you alone, change your number, get a po box and then report the "new" info to your credit bureau....sans the number ... if you get mail from them write on it "not at this address return to sender" and they wont bug you and they'll sell your account to another company who will try to locate again....it wont go away unless it's a tiny amount OR they cannot find you.