business questions - answers to business questions
*Business questions>>>Credit Questions

I owe a credit card balance from years ago for $400. They're now suing me for $1500. Can they win?

Question:
I owed a balance on a credit card for about $400 unpaid a few years back. They sent me to collections. I spoke to their collections people many times, but they insisted on playing hardball and wanted to collect $900+. Now I just received a letter notifying me that they are suing me for $1500 including interests, collection costs, and legal fees. Can they win? What do I need to do to get this resolved?

Answer:
How long has it been since you were asked to pay? You may owe nothing! :)

Collection companies are oftentimes dishonest in their methods as they may have purchased your debt for pennies on the dollar.

Depending upon where you live, the statute of limitations may have allowed your debt to expire.

Look at this website for exact info: http://www.cardreport.com/laws/statute-o...
Related Questions
  • I owe a credit card balance from years ago for $400. They're now suing me for $1500. Can they win?
  • Does anyone know of a company that does NOT use Teletrack or Telecheck to take out a Payday Loan?
  • Has anyone had to deal with chex systems?
  • Wrong social security # on credit card aplication?
  • is it legal in the U.K. for shopkeepers to charge you 10% when using debit card to pay?
  • Where can i get Good VM card ?(aypal withdraw possible)?
  • How can I have good credit again?
  • Statute of Limitations / Collection Agency?
  • Part Two my question?
  • does your credit history follow you if you move out of the U.S.A.?
    • Categories
    Taxes Small Business Renting & Real Estate Personal Finance Other - Business & Finance Investing Insurance Credit Corporations Careers & Employment Advertising & Marketing
       

    business questions and business answers
    Loan,Banking and CreditFor personal non-commercial use only. All rights reserved.