Debt collections after 14 years??

[Snype]

So how can I get them to STFU and stop harassing me? Do I need to speak with a lawyer about this?

From what I understand when this was with ARC it went past the SOL and I haven't heard from them since, but they must've sold the debt to another company which is illegal from what I've read.

I don't know how true that is or if it applies to my situation/province, but it would seem that after 14 years they can't do shit and I just need to get rid of them.

These fuckers are like herpes.

There is no way to stop it. They will continue to sell your debt to other company's over and over again and continue to harass you. They will even start to harass your friends and anyone you are associated with who they can find. They will send you fake seizure letters and fake warrants. They are fucking crazy.

 

[BigJohnny]

There is no way to stop it. They will continue to sell your debt to other company's over and over again and continue to harass you. They will even start to harass your friends and anyone you are associated with who they can find. They will send you fake seizure letters and fake warrants. They are fucking crazy.

HAHAHAHA, I don't have any friends lmao, and I would see through a seizure letter because I have literally no assets which to seize.

 

[JRace]

It varies from province to province, but they cannot "harrass" you (legally).

If you do speak to them insist they can no longer call you. This way the only legal way they can contact you is by mail.


In Canada the laws are much diffenent than in the USA.
Up her they can only contact you certain hours of the day, certain amounts of time each month, etc.

If you are being harrased by then yiu can file a suit against them.
Regardless of weather or not you owe money they have rules they must work by.

Rules in BC
http://www.bclaws.ca/civix/document...4] c. 2/00_Act/04002_09.xml#division_d2e12308

Communication with persons other than debtor
117 (1) Except for the purpose of obtaining the debtor's home address or telephone number, a collector must not communicate or attempt to communicate with a member of the debtor's family or household, or a relative, neighbour, friend or acquaintance of the debtor unless

 

[Oti$]

The statutes are up, they have no legal recourse. They are fishing hoping that you will just pay it. I don't know how to stop the harassment, besides paying, but you are no longer legally obligated. Good luck.

 

[LEF]

Interesting stuff

 

[Stoner4Life]

there are no laws dictating that debt collectors use their real names as they attempt to collect debts, they must use the actual name of the collection company they work for but can hide their real name for the most obvious of reasons, revenge from a debtor they're trying to collect from.

and so I laughed like a madman when I got to the name at the bottom of a collection letter one day, the guy (or gal) chose to use the moniker 'Mike DeLawyer' in an attempt to impart the fear of some impending legal action.

laughed so fucking hard I almost paid the debt.......

 

[Sisu]

^ Interesting! Do you know if it is based on the residence of the person, or headquarters of the collector?

It's based on the residence of the "debtor" and not on the creditor. So one could move to a state with shorter SOL and establish residency. I'm not sure about moving from a state with shorter SOL to one with greater.

Caveat emptor, I am not an attorney, and I have never stayed at a Holiday Inn Express

 

[HempKat]

Well like several others the impression I have is that after 7 years there is nothing they can do other then still try to collect by sending letters asking for you to repay it. Beyond that though, they're out of luck. As has been pointed out, that's how it is here in the States, Canada may have different rules. The fact that the name of the organization collecting is different is because it has been sold by the banks to an independent collection agency. They often start by asking for the full amount but eventually will offer a lower amount to settle. I'd be careful of any deals though until you've fully investigated Canadian law on this type of issue.

 

[stoned-trout]

tell em to get in line..yeehaw

 

[Wö£fëñxXx]

Negotiate, pay it off and be done with it.
If you live your life by the FICO score you'll never get ahead. A high FICO score only means you love debt. The banks and CC company's want you to think you must have them to survive, constantly making payments to banks and CC co. is a dead end road, Don't pay them, pay yourself.
Cash is king. Work, save, invest and give. You'll win every-time.
If you take advice from broke and in-debt folk, you will be broke and in-debt.

 

[BigJohnny]

Negotiate, pay it off and be done with it.
If you live your life by the FICO score you'll never get ahead. A high FICO score only means you love debt. The banks and CC company's want you to think you must have them to survive, constantly making payments to banks and CC co. is a dead end road, Don't pay them, pay yourself.
Cash is king. Work, save, invest and give. You'll win every-time.
If you take advice from broke and in-debt folk, you will be broke and in-debt.

There's no way in hell I'm paying that.

But I agree with what you're saying but I plan to live in a house someday so my credit needs to be good.

In fact I don't have much debt, 2 credit cards, one for me and one for my gf, which are now used and paid when I use them, and I have a student line of credit I'm paying off.

If things goes well in the next few months I'll have all my debt paid off and won't be using credit for my purchasing.

 

[Weezard]

Here's what you need to know.

"Consumers also pay off these accounts when they are not on their credit reports. Even though an account was removed from their credit file, a collector watched their credit report for any activity (actually the computer was watching any credit activity). When the collector spotted the activity, he called the consumer for payment. All the consumer needed to say to the collector was, "I have an absolute defense since the statute of limitations has expired."

The statute of limitations does not cause your debt to go away after it expires. If the creditor files suit, the consumer has an absolute defense. The consumer must offer the new evidence to avoid a judgement. The evidence will consist of papers the consumer files to support his claim. If the creditor sues you, and you do not prove to the court that the statute of limitations expired, you will have a lost lawsuit and a judgment against you."

Just say no.

As for my opinion on the ethics?
Debt is a written promise.

My word is good.
If I owe it, I pay it

Aloha,
Weezard

 

[DrFever]

Actually TBO they sold your debt to another collections company and there trying to put scare tactic owe it will ruin your credit rating , tell them to fuck off and if they bother you again or place a mark on your credit history that you will sue them or deflimation of character happened me years ago where i could not make payments anymore on a truck told them come n get it they said no problem
few months later i get bill for 8000.00 i called them and said go get fucked
You think cause you sell the truck for a dollar or what ever your going to come back after me for the difference lol GOOD LUCK you had 2 choices Seize or sue you seized my hands are free of the debt like i am going to pay for something i do not have hahaha
your best bet seriously talk to a lawyer in that field its free

 

[Snype]

Here's what you need to know.


My word is good.
If I owe it, I pay it

Aloha,
Weezard[/COLOR][/SIZE][/FONT]

The problem is when a $1,000 debt turns into a $5,000+ debt from their hidden fees, compound interest and penalties. Even lawyers don't understand the credit companies contracts that change all the time. Most credit card debt isn't at a set rate that most people think. They can jack up the interest anytime that they want for no reason. I had perfect credit for years with no missed payments ever. My interest was about 9% and I called and asked if they could lower it a little and instead they made it 19% for no reason at all. Never a missed payment for anything. I was very anal about my credit back then. The credit system is a scam. They make you pay off the lower interest credit before the higher interest so you get stuck in a hole. No one thinks that a pair of $100 sneakers on a credit card is going to turn into a $500 bill. People think when their interest is 10% that it's really 10% but it's a lot higher than that due to compound interest. The interest is charged on a 24 hour basis at 10% divided by 365 days. No one understands that. So when you buy that pair of sneakers today, you're paying interest on your interest every day plus interest on your purchase. Same with a mortgage. LOL! Fucking scam artists.

Back in the day it wasn't like this. Interest was charged after the first 30 days. My dad used to borrow 10's of thousands on his credit cards and put it in the bank and earn free interest. Then he'd pay off the full balance on the cards every month with no interest and make free money. Now banks don't even give you interest. Back then some banks gave 6%.

 

[LEF]

scary

 

[Gry]

Never seems to be any shortage of stories of major banks getting by with miniscule fines for that which could and should result in charters being revoked and real prison time for those involved. The benefits of regulatory capture.
corporate integrity was a bad idea

 

[HempKat]

Negotiate, pay it off and be done with it.
If you live your life by the FICO score you'll never get ahead. A high FICO score only means you love debt. The banks and CC company's want you to think you must have them to survive, constantly making payments to banks and CC co. is a dead end road, Don't pay them, pay yourself.
Cash is king. Work, save, invest and give. You'll win every-time.
If you take advice from broke and in-debt folk, you will be broke and in-debt.

Actually there is nothing wrong with having credit and/or valuing your credit score. The problem comes in when people misuse them. Credit was never meant to be run up to the max for frivolous things. It was meant to be used to help with unexpected expenses and with the intent to pay it back in as short a time as possible. Most people seem to think it's a good idea to use it to treat themselves to things they couldn't normally afford and as long as you can afford the minimum it's all good. That's willful ignorance if you ask me.

 

[BigJohnny]

The problem is when a $1,000 debt turns into a $5,000+ debt from their hidden fees, compound interest and penalties. Even lawyers don't understand the credit companies contracts that change all the time. Most credit card debt isn't at a set rate that most people think. They can jack up the interest anytime that they want for no reason. I had perfect credit for years with no missed payments ever. My interest was about 9% and I called and asked if they could lower it a little and instead they made it 19% for no reason at all. Never a missed payment for anything. I was very anal about my credit back then. The credit system is a scam. They make you pay off the lower interest credit before the higher interest so you get stuck in a hole. No one thinks that a pair of $100 sneakers on a credit card is going to turn into a $500 bill. People think when their interest is 10% that it's really 10% but it's a lot higher than that due to compound interest. The interest is charged on a 24 hour basis at 10% divided by 365 days. No one understands that. So when you buy that pair of sneakers today, you're paying interest on your interest every day plus interest on your purchase. Same with a mortgage. LOL! Fucking scam artists.

Back in the day it wasn't like this. Interest was charged after the first 30 days. My dad used to borrow 10's of thousands on his credit cards and put it in the bank and earn free interest. Then he'd pay off the full balance on the cards every month with no interest and make free money. Now banks don't even give you interest. Back then some banks gave 6%.

Well for my credit cards I'm only paying 6% interest and it's with capital one... it was a secured card I got way back in like 2005 because I had shit credit.

It sat maxed out for a few years with only minimum payments being made, but on a $750 limit I was only paying like $10/month or something small.

With my grilfriends card she's paying 19.99% interest which is insane, but in both cases if I go and buy a $100 pair of shoes today and pay it off a week from now, then I'm not charged interest on that purchase.

I know this for a fact because we've made purchases, paid them before the month is up and had no additional interest charges taken.

Actually there is nothing wrong with having credit and/or valuing your credit score. The problem comes in when people misuse them. Credit was never meant to be run up to the max for frivolous things. It was meant to be used to help with unexpected expenses and with the intent to pay it back in as short a time as possible. Most people seem to think it's a good idea to use it to treat themselves to things they couldn't normally afford and as long as you can afford the minimum it's all good. That's willful ignorance if you ask me.

So completely true, and it's gotten to a point now where you see EVERYONE buying shit on credit and you just know that they've gotten into a terrible cycle of maxing out the card, then when they get paid all of their money goes to paying off credit which they then have to live on again.

Only difference is those people are more often than not up into the $10K+ credit amounts.

Between me and my gf we have a combined credit amount of $1750 which is just fine by me and has served us well these few years.

I decline all offers when people are like "hey would you like a free $10 worth of gas just for signing your life away, getting into even more debt, taking a negative hit on your credit rating and generally making your situation worse all around?"

ya, no thanks bud, I have enough credit lol.

 

[Wö£fëñxXx]

Actually there is nothing wrong with having credit and/or valuing your credit score.

Actually, that is how the banks want you to think, Kat.

Credit is for broke people that cannot do math, read through this thread.
Credit was designed to take advantage of the less informed and only for the advantage of the bank. Have you walked into a bank lately? pretty nice place right? they built it with your money.

Lets take the self discipline up another notch. If you take for starters say $1500 and sock it back, label it emergency fund only then when that washer, or dryer, or water heater, or transmission goes out you've got the "cash" to cover it without having to go into "debt" by using the credit card and then it is only an inconvenience and not an emergency.

Myth: Aren't there positive uses of a credit card? Like rebates and airline miles?
Truth: Responsible use of a credit card does not exist. Credit card debt is a major problem in America.

There is no positive side to credit card use. You will spend more if you use credit cards. Even by paying the bills on time, you are not beating the system! But most families don't pay on time. The average family today carries $8,000 in credit card debt according to the American Bankers' Association.

Now let's talk about the rebates. If you were using a credit card at 5%, you would have had to have spent $80,000 to get $4,000 rebates on new cars that lost $6,000 of value when you drove them off the lot. That is not a good deal!

Cash vs. Credit Cards;
When you pay cash, you can "feel" the money leaving you. This is not true with credit cards. Flipping a credit card up on a counter registers nothing emotionally. A study of credit card use at McDonald’s found that people spent 47% more when using credit instead of cash. This is money you could have saved!

If you "have to" use plastic, I suggest a debit card. I use them for travel and the occasional convenience of ordering something over the Internet or phone. Other than that, I use cash.

Personal finance is 80% behavior. You need to cut out habits that make you spend more. You do not build wealth with credit cards. Use common sense. When you play with a multi-billion dollar industry and you think you're going to win at their game, you are naive. You cannot beat the credit card companies.

Little Johnny, Weezard said, your word is your bond, you signed the note, you owe the money, they gotcha. That is how it works.

The borrower is slave to the lender.

Debt free and cash sure is freeing, you can even buy a house and a nice car with cash if you use common sense and learn how to make money work for you instead of making the banks your source.

An issue between myself and my wife is that she works for the US Government and you have to maintain a credit score for security reasons, (The banks even have the USG thinking like they want) so we have agreed to buy her a new car every few years and she has a credit card she uses for gas, but it is paid in full each and every month. I refuse to give the banks another red cent, ever.

I will use IRA's and long term mutual funds, that is how you build wealth. Compound interest.

To much personal info on ICmag for my taste, but there it is.

 

[MJPassion]

Bottom line is this...

Banks are chartered for the purpose of saving & loaning money.

If, when you got a loan from the bank, you did not receive cash money, the loan was made on fraudulent terms. It is a violation of most banks charter documents to extent to their customers "credit."
If you received a letter of credit or a check, the bank you are dealing with has commited fraud!
You are in no way responsible for paying for a fraudulent loan/debt.

Since you asked the bank to close your account and they refused they are responsible for any monies you freely used. You did not sign a contract for the overdraft protection so you are therefore not responsible for it's payment.

DEBT is Slavery!

It is the business of the banks to put you into debt.

I've recently got a letter from a collection agency for a var loan I got back in 2002. I threw the letter in the fire since the Statute of limitation is obviously up & because of the fact that the bank has had that particular car paid for by 3x its loan.

Here is what you need to do to get those guy from buggin ya...

If they call you again, DO NOT discuss the supposed debt or any options for repayment.
Demand proof of the debt!
A collection agency will not have your contract that ypu signed, no matter what. Therefore, they have zero proof of the debt & they have no recourse in court, so cannot under any circumstances, collect that debt.

I had a collection agency call me once, from Louisiana, and he tried getting all tough over the phone.
I told him, using as clear of language as Icould muster (I was HOT) to shut the fuck up, don't call me any more or I will sue you for harassment. I haven't received a call since then.

Do a Google search & see what you can find.
I'll bet that the answers you've been given here will be similar to what you find.

Lastly, remember this above all else...

"FRAUD VITIATES EVERYTHING!"
Boyce v Grundy

"FRAUD VITIATES THE MOST SOLOMN CONTRACTS, DOCUMENTS, AND EVEN JUDGEMENTS."
U.S. v Throckmorton

"FRAUD DESTROYS THE VALIDITY OF EVERYTHING INTO WHICH IT ENTERS."
Nudd v. Burrows