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What You Need to Know About Time Barred Debt the Statute of Limitations and Debt Collection

Photo Credit: Filin Ilia The Federal Trade Commission has released new information to help you better understand the issues surrounding Time Barred debt and debt expired under the Statute of Limitations. If you would like to learn more about specific state regulations you can use the free compliance module here. Understanding Your Rights When It … Read more

FTC and DOJ Announce Asset Acceptance Settlement Which They Want to Be Framework for Debt Collection Industry

David Vladeck director of the FTC’s Bureau of Consumer Protection and DOJ Assistant Attorney Tony West today conducted a conference call I attended to provide additional information regarding an announced settlement with collection company Asset Acceptance. In the settlement Asset Acceptance agreed to pay the second largest fine ever against a collection company for alleged … Read more

What is the statue of limitations in Iowa on revolving credit or debt. – David

i bought a motorcycle with what the called a revolving credit card. the salesman told me i would get cash back and three months no payments. i didnt read the fine print. 🙁 the money back was for the first three months payments. i didnt get a past due notice till after the third month … Read more

Statue of Limitation for Louisiana – Clara

I have past due accounts, not credt card accounts, I believe they are contract accounts I would like to know what are my options? What is the statue of limitation for Georgia? What is the Statue for Louisiana? The past due accounts were when I lived in Georgia but I have relocated to Louisiana. Thanks, … Read more

Why Would Anyone Pay a Debt Outside the Statute of Limitations? – Mike

“Dear Steve, I had a credit card several years ago that I never paid and was never sued on within the statute of limitations and when it passed the seven year period it dropped off my credit report. I changed my phone number before I stopped paying and the original creditor and the collection agencies … Read more

Debt Collector Wants Money I Already Paid. – Larry

“Dear Steve, I had Aetna medical insurance through December of 2008 and enrolled in Kaiser beginning with my 2009 health insurance. I just received (dated Nov 2) a collection notice from the bill collector, RMS, representing Aetna stating that I owe the Aetna Mail Order Pharmacy for two prescriptions in 2008. They give no information … Read more

Free Debt Relief Industry Regulation and Legislation Tracking

I’m happy to announce today that both consumers and debt relief companies will now have FREE access to debt relief industry compliance, regulation, and legislation resources. This site module for the GetOutOfDebt.org site will give site visitors fee access to be better informed and educated about debt relief industry regulations. In this module you will … Read more

We Dropped Out of the Everest Debt Solutions Program. – Andy

“Dear Damon, We had been carrying $30,000 in CC debt for about two years making the minimum payments. We were waiting for a business deal to go through so that we could pay off the debt. We hadn’t missed a payment but we missed the small print on a letter that they sent us that … Read more

We Just Got Hit With a Judgment for a 12 Year Old Debt in Florida. – Bill

“Dear Michael, Assignee of credit card issuer got judgment against my son in 1998 and recorded it in July 1998. Nothing happened for over ten years. In 2010 they filed a motion to garnish his pay, which was the first he knew of the judgment. I believe they were required to renew the judgment after … Read more