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Collections Law/summons 7/13/2007

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Expert: Michael Brotherton - 7/17/2007


Question
I received a summons from a Portfolio Recovery Assoc. This account was transferred or purchase from Sears by Portfolio Recovery in April 2003, from my credit report dated May 1, 2007. The last date of activity  from Sears was 08/2000. Is the statute of limitations for open end account three years for the state of Alabama?Can they sue me in court if they are not the original debt holder. How long can will this stay on my credit reports. NEED HELP TRYING TO PUT THOSE BAD YEARS BEHIND!

Answer
It appears you are past the SOL. Last activity may be your last payment on the account or most recent charge by you. You may dispute this debt to the creditor or the courts if applicable. Send certified mail, return receipt requested. If they persist file a complaint with the Federal Trade Commission.

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Michael Brotherton

Expertise

Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).

Experience

Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.

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