Can a credit card debt collection agency legitimately collect on a 20 year old debt?

Question : Can a credit card debt collection agency legitimately collect on a 20 year old debt?
I was sent a letter from Monarch Recovery Management asking for payment, their client has not contacted me, except to offer me a credit card! There is no attendant bill, reciept, or other proof. Also, the origin of the claim is a P.O. Box in Puerto Rico.
credit card debt collection

Best answer:

Answer by MadMan
Not in the US!

This entry was posted by admin on September 2, 2010 at 2:23 pm, and is filed under Banking. Follow any responses to this post through RSS 2.0.You can leave a response or trackback from your own site.

Comments (5)
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#1 written by Anna Bell 1 year ago

Hello

It is possible to get rid of debt, but you have to know exactly how to do it.There are many companies , that offer that service, but unfortunately most of them are scams.

Last year I found a web-site that helped me to save more than 30% …

They are one the best companies .

If you really need help, I would recommend you http://DebtMoneySaver.info … They really know how to help you.

I really hope that will help you

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#2 written by Alex Roy 1 year ago

Take legal advice. It looks a spammer but its better for you take legal help.

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#3 written by Braydon Tailor 1 year ago

http://debtreliefreviews.net/top-debt-consolidation-companies/ has several ways to get rid of credit card debt.

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#4 written by CatDad 1 year ago

Technically, a debt collector can come after you forever for defaulted debt…however, once the statute of limitations is up (which it has in your case) then they’ve lost the power to successfully take legal action. Per the Fair Debt Collection Practices Act, you can send them a “cease communications” letter and that will be all that you need to do. Per this law they must cease collection activity.

Send the collection agency a letter via Certified Mail + Return Receipt (NOT regular mail) stating:

Per the Fair Debt Collection Practices Act, cease all communications with me about this alleged debt. This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped.
——————
To speed things up, fax this same letter to the collection agency. Free fax service at: http://www.myfax.com/free/

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#5 written by bdancer222 1 year ago

Well they can ask you to pay, but have no way to force you to pay. The debt is beyond the Statute of Limitations (SOL), the timeframe to bring lawsuit. It also is beyond the 7 year reporting period. Basically, they can’t report the debt to the credit bureaus and if they sue, they would lose when you used the SOL as an affirmative defense.

This is a zombie debt collector who buys up antique debt for next to nothing — probably pennies to the $ 100K. Some even try to collect old debts that were discharged in bankruptcy. They hope people will just pay them something.

You can simply ignore them but if they continue to bother you, send them a certified, return receipt letter telling them to cease all contact as the debt is no longer valid. They should stop but might just sell the debt to another zombie collector. You’d have to send another cease letter to the new collector.

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