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There is no SOL for collection procedures, however state SOL's do apply to the time in which a lawsuit can be filed for debt recovery. If sued and the SOL applies it is the responsibility of the debtor/defendant to bring the issue to the attention of the court, a SOL defense is not "automatic".

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โˆ™ 2005-11-19 20:09:59
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Q: Can you be sued for a 5-year charge off sold to a collection agency where the SOL has expired and the collection agency says there is no SOL for collections?
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Related questions

Can collection agency charge you their fee for collection?

A collection agency can charge you fees on top of your original debt. They can charge you a fee for their collection.

Can a collection agency charge you with credit card fraud?


Collection acct removed but original creditor still remains?

Yes, reporting to your credit by a collections agency does not effect the reporting originally made by your creditor. It most normal cases you would see the original creditor having reporting the account as a "charge off" regardless of any reporting made by a collections agency afterwords.

Can you be charged interest on medical bills by a collection agency?

Yes, unfortunately a collection agency can charge interest and other fees when they obtain a debt.

Can a collection agency charge interest on a debt?

In some situations interest and accompanying collection fees can be assessed.

How do collection agencies work re rates they charge the collectee and the collector?

Generally a collection agency will charge the company they are collecting for a percent off what they collect. They do not charge the person they are collecting from.

Can a credit card company still send you monthly bills and charge you finance charges on your account if they sent it to a collection agency?

YES, it stops collecting intrest when it goes to collections. at that point they have transfered your debt. It then becomes someone elses problem. But they stop collection intrest.

Can a collection agency report and collect a debt that is shown as a charge off from another creditor?

Yes. When creditors charge off accounts they send them (or sell) to a collection agency. The collector can request the debtor's credit report show that the account has been turned over for collection procedures.

If a collection agency sends a letter to an employer asking for personal information should the employer answer it?

If the employment agency will charge a fee

Can a landlord send an ex-tentant to a collection agency for a disputed charge?

Yes, and the tenant can tell the collection agency the charge is disputed, and that could be the last you hear from them. If not, you need to research, follow and educate them on the rules of the Fair Debt Collection Practices Act, such as filing written notice of dispute, etc.

Can a debt be listed on your credit report by the collection agency as two separate entries with one as a charge off and the other as a collection fee?

Yes, the charge off is entered by the original creditor, and the collection fee is a separate debt.

Why original creditors sale accounts to a collection agency?

Original creditors sale their accounts to collection agencies when the account has been past due and they have not effectively collected. At that time, the original creditor will charge off the balance from their accounts receivable and turn the account over to a collection agency. When the collection agency collects the debt, a portion of the amount received is paid the the collection agency and the remainder is returned to the original creditor as profit.

How many times and how often can a collection agency post an account to your credit report as a charge off?

A collection agency cannot charge-off an already charged-off account. The reporting of the STATUS of the account AS a charge-off can be reported every time they update with the credit bureaus. The 'date of status' must be the date of the ORIGINAL charge-off.

Why would a collection agency not give you the balance of your charge off in writing?

Only the company can answer that question.

If something has been sent to collection can the collection agency charge you interest?

If the original creditor charged interest then the collection agency will continue to accrue interest at either your states legal rate or whatever you agreed to in the original contract until the debt is either paid or sold to another collection agency or placed with an attorneys firm for legal litigation.

How do banks get their money back when they repossess an auto?

They sell the vehicle for what they can, then charge the remainder to you. They usually sell that debt to a collection agency, and the agency starts calling you for that money.

Can the original creditor charge the debtor for the collection agency fee?

The original creditor can charge the debtor for all fees associated with collection as well as interest. Credit card companies will usually negotiate with you for lowered debt.

Is it better to pay a collection agency or let them write the debt off?

if you pay the collection agency you can get back in good credit standings , ifyou dont they can get a judgment against you, and garnish your wadges , if they do a charge off it stays on your credit for up to 10 years know and it is harder to get credit with a charge off

You had a credit card account which they charged off and sold to a collection agency ca Now you have that charge off which carries a balance and a CA collecting on the same debt What could you do?

It is unlikely that the account was "sold" to a collection agency. Rather, the agency was contracted to recover the debt. The "charge off" of the account only affects the original creditor, and represents a loss reported against the company's taxes. If the collection agency has attempted to recover the debt and has been unable to, the original creditor will likely pull back the account and refer it to another agency in hopes of greater success.

Can a collection agency still add interest to a charge off?

Yes, as well as any subsequent legal fees.

If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?


How do you collect a judgment by an out of state court in Maine?

Call process servers, private investigations companies, and collection agencies - you will find help from that group; information and what they would charge you to make collection attempts if they in fact also provide that service. I am a VP-Sales for a national collection agency, we do not accept judgments into collections since they are so unlikely to be collectible. But, perhaps this debtor has an ability and willingness to pay sooner or later.

Can a collection agency charge fees or interest in new jersey?

Collection agencies can't add charges. Fees and interest charged to your account are per the terms of your contract with the creditor.

Can a collection agency sue you for a charged off credit card?

Yes, the term "charge off" does not indicate that the debt is uncollectible.

Can a collection agency sue for a 'charged off' debt?

Yes, the term "charge off" does not render the debt invalid or uncollectible.