Will an offer to pay to settle without acknowledging the debt reset SOL?

Question

Hello --- I have a debt collector who is trying to get me to pay back a debt that is about to hit the statute of limitations: the creditor balance they list is Sept. 7, 2002. I have been corresponding with them for a couple of months. In writing and I have never once acknowledged the debt or made any payment on it. Initially, I sent a letter telling them to prove to me that I owe what they said I owe and to prove that the SOL had not expired on the debt. They responded with a letter saying they would provide proof (which they have not yet done) and that they were planning to file suit. In response to this I sent a letter saying I would like the matter settlled out of court and would pay a lump sum to resolve the matter. I gave an amount ... a lowball. I never admitted the debt was mine. Today I got a letter from them with an offer to settle with a high lump sum. They want payment by Sept. 20. Do I respond and again ask for proof the debt is mine or do I wait until after Sept. 7 and send a letter saying the SOL has expired. I live in Tennessee. I cannot afford to pay this debt right now at all and I still am not sure who these people are and what their connection is to original debt. Also, they are threatening that if I don't pay, then they will continue to collect and to add interest. Legally, they cannot do that (the interest part) right?

Answer 1

First, the SOL for credit card debt/"Open" accounts in TN is just three years...are you sure the SOL has not already expired?

Keep up the validation requests.....You'll be screwed if you acknowledge this debt in any way in writing....

Send them a letter via Certified Mail + Return Receipt stating:

Per the Fair Debt Collection Practices Act, I am requesting  written validation of this alleged debt

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It is illegal for collection agencies to make bogus threats like threatening to sue when this is not the case. If they again state they'll sue you, tell them that you want to know the full name of the attorney on their end and his/her license # in the state bar association. If they don't give you this info...they're bluffing.

Answer 2

"These people" are either a debt collection agency working for the company you owe the money to or they have purchased the account from the company you owe the money to.

If you make any payment, you are acknowledging that the debt is yours and the SOL is automatically extended.

You can be taken to court, but MOST debt collectors will not go after you unless you have any assets that can be seized (in other words, it has to be worth their while financially)

Personally, I think you are a dead beat and you need to pay your bills, regardless of the SOL or who you think the company is. Don't run up bills you can't pay. It amounts to stealing. You have a moral obligation to pay whether or not the law is on your side.

Answer 3

No, they have to proof that you owe the debt. If you do not receive a response in 30 days they have to remove the item from your credit report

No matter if the sol expire you still owe that debt.

Stop communicating with the creditor directly and go thru the credit bureaus.

Write a letter to all three credit bureaus stating that you did not  receive a response within  the 30 day window and request that the remove it from your file. If the sol expired let them know its obsolete and have them remove it.

Remember to send all letters certified and save all correspondence and envelopes.