Hey everybody,

My name is Dan and I work for a debt management company...found this forum and think can provide some info that may help people out..

so to answer the concerns on this thread...

- collections can still sue even after 2 years has passed, the problem is that the defendant can exercise the 2 years clause as a defense, if defendant doesn't know the collections will win the judgment. So if 2 years has passed, doesn't mean you're off the hook as if they sue, you still have to get a lawyer to fight your case.

- "WITHOUT PREJUDICE" on the letters that you send them will protect you against "re-activating" the 2 years

- In terms of "failingsanity", your only option is to settle with them. Start saving money even if its $ 50 a month, and when you reach about 15% of the balance hire a debt settlement company to help you out. They usually take money only when they settle (at least we do). Also, you can try doing it yourself, just keep in mind it works better if you get your friend or someone act as your agent.

Hope this helps...

"The information provided is for educational purposes only and does not constitute legal advise of any kind. Please seek advice of qualified professional."

would sending a cease and desist letter in writing reset the limitation period?

This raises an interesting angle for a question I have been researching.

Based on the number of messages I've received it seems that collection agencies are using hard pulls as a way to circumvent items falling off for age. Basically they can't report the item but they can get that there is something there by doing an inquiry and thus signaling that a CA is interested in the individual.

I have been focusing on the legitimate business reason angle but actually the seven years argument might be a better angle.

Let's address this in point form:

"Will this be on my credit score for 7 years from the first missed payment/last payment?"

Per the Consumer Reporting Act, your debts will remain on your credit report for 7 years...

http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_90c33_e.htm#BK15

(3) A consumer reporting agency shall not include in a consumer report,
(f) information regarding any debt or collection if,
(i) more than seven years have elapsed since the date of last payment on the debt or collection, or
(ii) where no payment has been made, more than seven years have elapsed since the date on which the default in payment or the matter giving rise to the collection occurred, unless the creditor or the creditor’s agent confirms that the debt or collection is not barred by statute and the confirmation appears in the file;

Now, with respect to your family finding out about your debts, well, that's something only you can address. Chances are that if you enter their address on your request for a Equifax report, you'll start receiving collection notices to 'your home' mailbox.

What happens To my credit? I mean they havent sued, there time limit for that is up, I know I can send the cease and desists now if they contact me. But Will this be on my credit score for 7 years from the first missed payment/last payment? Or does it stay on your credit because it wasnt "resolved" sort of thing?

Thank you, Im just worried about what to say, Ive read by other people that SOL is from when you admit the debt is yours, and you owe it, even if its over the phone and Not through email/letter Or any of those. Im just worried that they may call and send letters to where i am currently living because i am currently staying with a family memmber to save some money as i dont have any for rent, ect, because Im currently taking my course for college and wone be finished until June 2010. And then Have to apply for job in my field. Which wont be much since im in a small town. and needless to say I dont want them knowing about my debt, and Or bothering them since its actually there resident and their phone number., Which i have not given out to anyone So I dont see or understand how they would get this information?? Isnt that stalking? IN a way? I dont know but its creepy!

Its defintely been over 2 years since Ive PAID any on the debt, and ONLy one creditor Out of I beleive there is 4 total... sorry 5 One was a Rogers bill where they kept chargingin me after i canceled their phone service(home) and switched to Cogeco And for some reason, They charged me for like 5 months and then interest and sent it to collections, and I never bothered talking to them because I didnt owe them any money my phone was the same number, but with cogeco which "called them and canceled and used my same number with them" and i wasnt under contract because it had been over for months so I wasnt obligated to stay or pay any fee's so I have no idea where they got this 500 dollar bill from, The others were credit card debt, one never made a payment on because I was stupid and let an ex fiance, Put something on a card and due to legal reasons he got my in trouble, and threatened to say I was harassing him when I was asking for my money that he owed me to the credit card company. So needless to say I couldnt sue him For the money owed even though I had previous payments and emails saying he owed it (and the SOL ran out for that unfortunately)

Thank you For this Info Greatly appreciated!

First, the fact that you haven't acknowledged the debt in writing means that you haven't reset the limitation period. The limitation period would have been reset on the day you made your last payment, however.

With respect to C & D letters, review the following:

Collection Agencies Act - R.R.O. 1990, REGULATION 74

http://www.e-laws.gov.on.ca/html/regs/english/elaws_regs_900074_e.htm#BK6

22. (1) If a debtor sends a collection agency or collector, by registered mail, a letter stating that the debtor disputes the debt and suggests that the matter be taken to court, the collection agency or collector shall not thereafter contact or attempt to contact the debtor, unless the debtor consents to or requests the contact. O. Reg. 103/06, s. 2.

Built on the above, here's my Cease and Desist template letter for Ontario residents:

http://www.docstoc.com/docs/16640811/Cease-and-Desist-template-letter-for-Ontario-residents

Additionally, more info on Cease and Desist letters located here:

http://en.wikipedia.org/wiki/Cease_and_desist

Requesting a copy of your credit bureau will update their records with your current address. Why are you concerned about this? Afraid someone will come banging on your door? If that's the reason, well, if you know your last acknowledgement of these debts is more then two years ago you probably don't have a lot to fear. The C/A's/Creditors aren't going to throw good money after bad (i/e: uncollectible debts).

the only thing I acknowledged was when the creditor called me, She said the usual, you need to pay ect... and I said "im not currently working, which is WHY i havent made anymore payments, But i have a job interview" She just said actually nicely well give me a call back and let me know how that goes and we will proceed from then. So does this mean that acknowledgement doesnt count, Only from actual Payment? OR From when I spoke with her? Does getting Transunion and equifax Let your creditors know your current address??? And How do you get a cesist and desist? IF you give that to them, they can not contact you anymore? what happens with the debt? after 7 years will it be gone? Or will it stay there permenantely??

For starters, hit the Equifax site and download the required forms to request a copy of your credit report. Fill that in, then send it off to Equifax. That will show you when the date of last activity is registered for these debts.

Next, if the date of last activity is listed over two years ago, then send them off a Cease and Desist letter.

Also note, if you didn't acknowledge these debts in writting, or, by making a payment on them, then the Date of Last activity should not be affected. If they have modified the D.O.L.A then we'll discuss how to address that later.

O.C.

I believe its been two years since I made any acknowledgement of my debt. I know for one Credit card, I admitted and told the woman, I had a job interview and She told me to let her know how it went. Since then, I have not had a job long enough to make payments on my debt, I have moved twice since then and the second time wasn't of my choosing, No I did not inform them of where i moved to because I was receiving phone calls after 9pm and everyday for months to the point i kept my phone off the hook and canceled it.

Anyways Im not even sure how much I owe, I know the last time the ONE credit card company (chase) found me at my previous address and I recieved a letter in the mail, Saying that I had to pay x amount of dollars By a certain day, Or further legal proceedings would happen. I never replied and Im not sure HOW they even found me in the first place.

But I have not spoken to any of them in at least 2 years or WILL be 2 years FOR all debt by April.

I believe they may have found me at my new address however IM unsure how since Its not my place or in my name??? HOW is this possible?

If its been over 2 years since my debt What can I do? my credit is already destroyed. I tried to get another bank loan to go back to college and I was denied because of my debt (2years ago) Which ironically was going to use to pay off my credit card debt.

Im not working, and Im finishing up my certificate through College, I wont make a lot of money when Im finished in the first place and am still paying my visa and student line of credit*4 yrs now of this* they are the only two I CAN AFFORD while not working. I dont have the means to make the payments for these credit cards and I have learned my lesson and I Do not buy anything I cant afford up front.

WHAt Can they do? Can they call the residence I reside if the phone and house isnt in my name??? What can I say SO I dont acknowledge I owe this debt? Its been over two years? IS there anything I can Check that will Tell me when I LAsT paid Or acknowledged this debt??

I would claim bankruptcy But my parents cosigned my student line of credit SO it would be them that would be screwed if I did so I cant.

What are my options To get them to stop calling? We get numerous *Unknown name, Unknown numbers* daily every day. we usually dont answer, However We did today They asked for me by my first and last name.....But the phone hung up on the guy, And they havent called back yet.