Expert: Barnette Law Offices, LLC - 5/27/2009

Question
I had a credit card when i was very you. I was in college and away from home and I did not have any financial support from my family. I had a small job and about 90% of that money when to paying my tuition because financial aid did not pay everything. So I get a credit card offer and I was approved for $2000. To sum it up I was not responsible enough to pay it and it went into collection, then on my credit report and from there i got the irritating calls. this was ten years ago and the account was moved to good standing and then removed completely off my report in 2007. I got a call today stating that I owed these people exactly $7000. My questions are 1. can they resubmit a ten year old credit debt back onto my credit report and 2. can they charge me interest in the amount of $7000. Please help me

Answer
Sharon:

1) Legally, no, the FCRA proscribes this.  However, debt purchasers are known to do this on occasion;

and,

2) Maybe depending on the right of assignment they purchased from the original creditor.  However, th debt is barred by the statute of limitations thus, if they sue you you can dismiss the case simply by raising this as an affirmative defense.  Therefore, interest at this point is really a moot point.

Please do not hesitate to contact us at Barnette Law Offices, LLC, with any further questions and feedback is always appreciated.

Jason Barnette, Esq.
Barnette Law Offices, LLC
Consumer, Employment, and Personal Injury Law
1800 Hayes Street; Suite 122
Nashville, TN 37221
Ph: 615-585-2245
Fax: 615-250-8787
http://www.barnettelawoffices.com
info@barnettelawoffices.com