What should I do if I paid some debt off to one of the debt collectors I owe to a few years ago?

What if i've got debt from a few different companies from the year 2000 and i've had debt collectors chasing me since. Some I've ignored completely and as it's over 6 years I understand I can send a cease letter to them...but some others i have had contact and paid some debt off. What do i do now?? Do i have to pay the ones I owe to? and do a cease letter to the others? Help!

What should I do if I paid some debt off to one of the debt collectors I owe to a few years ago?
Every state has a "statute of limitations" law. This law required a creditor to take legal action before the time period runs out, or they lose the right to sue you.





The SOL begins on the date of the last transaction. If you make a payment, you reset the SOL and it starts all over again. So those debts you made a payment on can still cause you problems.





The other debts....just send them a letter informing them you are aware of the SOL laws, and you know they can not legally sue you for the debt. Instruct them to "cease and desist" all communications with you, and that deprives them of their last tool of calling and harassing you.





As for the debts you paid on....either negotiate a settlement or stop paying them...and hope they forget for another 6 years.





Note that in regards to credit reporting...they can only list those debts for 7 years, beginning from the date of the first delinquency. Even though the SOL may still be running, they can NOT continue to report these debts on your credit reports.



Reply:Yes, that is the gist of it. If you now have a chunk of money, you can try to negotiate with the ones that are still open.

floral