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Collections Law/Statute of Limitations on Credit Card Debt
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QUESTION: I just received a letter from Capital One regarding an alleged credit card debt they say I owe from 12/1998. The current balance is now $2598.73 initially starting as a $300 credit limit. The representative that I spoke to informed me that "there is no statute of limitation on debt" after I questioned him on why I haven't seen this on my credit report or why am I just now being contacted about this debt. However, I did request a copy of the original application to inspect the signature. Please keep in mind that I currently have a credit card with Capital One as well as two(2) auto loans with them.
ANSWER: I can better answer your question if you tell me what state you live. There is a statue of limitations I just don't know how long it is.
---------- FOLLOW-UP ----------
QUESTION: I'm sorry, I forgot to list that I live in Florida
Thank you for your quick response.
The statute is 4 to 5 years. Thank you for your question.
I rejected your last question in error.
Explain to them that you are aware of the statue of limitations and that you have no knowledge of this account. Insist that they forward any and all signed paperwork to you to prove the debt. If they continue collection activity, report them to the Florida Attorney General, Consumer Affairs and the BBB. After that, you will need an attorney. Thanks
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | Thank you for the quick responses. They were helpful | ||
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Answers by Expert:
Ray A Miller
Expertise
I am qualified to answer questions on the following subjects: FDCPA, FCRA and HIPAA as well as medical collections, general collections and collection agency related issues. I trained these subjects at a nationwide collection agency and customer service call center and audited around 150 representatives for compliance to the laws. I have been in the Collections Industry for over 30 years. I feel that everyone deserves to be treated fairly and with compassion and that is the way I trained collectors. Even though I worked for a Collection Agency, I get great satisfaction in helping those who have been mistreated or in need of help with these confusing issues.
Experience
I was the Compliance Administrator with a nationwide collection agency and customer service call center-I have trained hundreds of collectors on the above referenced topics. I have been in the medical collections industry for over twenty years and research these topics on a daily basis.
Organizations
ACA International
Education/Credentials
Some college
ACA Certified Collection Specialist
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