Expert: Michael Brotherton - 10/15/2008

Question
My husband and I bought a timeshare back in the late 70's in Delaware for $5,000 cash.  We bought a week in mid-March under their promise that we could bank it and use it to vacation wherever or whenever we wanted.  

After the first year, we tried to go to Florida.  I gave them 5 different dates and was told they were all not available.  We paid the maintenance fees probably the first several years.  In the early 1980's I sent them a letter stating that we did not want the property any longer and I may have even returned the deed to them stating that I was giving the property back to them and they could re-sell it or do whatever they wanted with it.  We have not heard anything since then until last week.  We received a notice in the mail from Continental Central Credit in California stating that we owe $23,276.83 in principal + $446.40 interest + $7,758.17 collection fee for a total of $31,481.40!!  

I recently checked our credit report and did not see this on there.  Also, can they come after us for this money after all of these years.  Since we hadn't heard from them in almost 20 years, I assumed they had re-sold our week.  I mean we paid $5,000 for something that we never were able to use because they lied to us.  Thank you.

Answer
Let me make sure I understand. The state you lived in at the time is Delaware? If that is the case then this is an outdated debt and the Statute of Limitations has passed. Write them a letter advising them to "cease and desist" all contact. Send the letter by certified mail, return receipt requested. Inform them that any further contact and you will sue them for violating of the Fair Debt Collection Practices Act and file a complaint with the FTC. This should do the trick. If they continue to contact you file suit.