I was recently contacted by an aggressive collection agency demanding that I pay balance in full; They "know that I am employed and hope that I settle without legal action."
In researching, I've learned that the statute of limitations for CO is 6 years on a written contract. This is a non-government student loan, no contact from the creditor has been made since February of 2001 (which I have documents to prove) and no payments have ever been made.
Question(s): Collector has "proven" debt is owed, but taking in consideration the statute of limitations (the debt is clearly older than 6 years), how do I go about contacting/notifying the collector?
I've considered sending a letter requesting that they cease contact, but do not want that to trigger them to advance in action.
Do I send a letter stating that the debt exceeds the statute of limitation?
Do I have to go to court in order to settle the matter in this way? What would be the best way to communicate with the collector?