If you are struggling to pay your bills and you have debt collectors harassing you, KEEP READING! It is important to understand that the Fair Credit Reporting Act (FCRA) provides that the period for reporting a debt begins on the date the delinquency occurs and runs for 7 years. Additionally, the date that the debt collector bought the debt is not important. The reporting term is based only upon the original account.
What should you do if a collector is attempting to collect an expired debt? Below are a few tips:
· Notify the debt collector in writing that you are disputing your liability to pay the debt.
· Inform the collector that the statute of limitations for collecting the debt has run and the debt is no longer collectible.
· Request that the collector stop all collection efforts against you for the expired debt.
· Notify the credit reporting agencies that you are disputing the debt. Provide any evidence you have to the credit bureau that the amount was charged-off by the original lender more than 7 years ago. At a minimum, it is important to provide the credit reporting agency a short statement explaining your side of the story.
· If the debt collector persists, contact DeLadurantey Law Office for help.
Nathan DeLadurantey is skilled in handling FCRA matters. In fact, he was a speaker at the 2012 Annual Update – Bankruptcy, Insolvency, and Creditors Rights seminar regarding FCRA issues. If you want help from a lawyer who can get positive results, contact our law firm to schedule a free initial consultation today.
For your bankruptcy, foreclosure, and debtor’s rights matters, contact DeLadurantey Law Office, LLC at (414) 377-0518. We serve the counties of Milwaukee, Waukesha, Kenosha, and Racine, including such areas as Milwaukee, Merton, Delafield City, Waukesha City, and Kenosha. Visit our web site and like us on Facebook.