Just checked my credit report, I found a debt buyer on an old credit card even though its been closed by the original creditor!

Asked almost 2 years ago - Highland Park, IL

Its an old credit card from 2007 , I stopped paying because i lost my job and had some problems, the credit report shows that the original creditor closed the account,but there is a debt buyer starts from 2011 ! and it shows the amount is increasing 20 dollars a month! ! whats the statue of limitation on credit cards in IL isn't it 4-5 years? whats happening here ? do the debt buyers sue all the time and when? I just moved to a different state ,How to know when they sue..please help I am not too good at those issues

Attorney answers (3)

  1. Manuel Alzamora Juarez

    Contributor Level 20

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    Answered . If the debt buyer bought the junk debt and they filed a lawsuit that you were not served and they got a judgment, then they can follow you until they find you an they will start harassing you. Depending on your State's Statute of limitations, this debt may be already barred. However, this is no barrier for these type of collectors, they will hound you, sue you and garnish your wages until you surrender. My position is this. If they contact you through any means, do not talk to them, take the letter to a consumer lawyer and let your lawyer deal with this issue. Best of luck.

    This answer is provided by Manuel A. Juarez, Esq., El Abogado de Accidentes de Autos de California: 510-206-4492.... more
  2. Dorothy G Bunce

    Pro

    Contributor Level 20

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    Answered . You need to know if this debt collector sued & obtained a court judgment. Look at the public records section of your credit report to see if any court actions are listed. If a creditor obtained a court judgment, the SOL no longer applies and the judgment can follow you anywhere under the full faith & credit clause of the US constitution.

    If the credit report doesn't show a public record, that is not a guarantee that there isn't a court judgment, so you still should do an online search for a judgment. But in the meantime, file a dispute with the credit bureaus.

    The issue you raised of the original creditor closing the account would not have any legal bearing on this issue one way or another. Hope this perspective helps!

  3. Felipe Nery Gomez

    Contributor Level 6

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    Lawyer agrees

    1

    Answered . The SOL for credit cards is 5 years from when your account was closed, however the SOL can be waived (if you know of a lawsuit and fail to tell the Court that the debt was more than 5 years old), so it is important to know if they sue so you may use the opportunity to have the Court declare the debt void due to the SOL. One way to do this is to write the creditor informing that they have a bad debt, along with your contact information. Thereafter, if they sue you not only will they know how to notify you, but you also may have additional claims based on knowing bad faith collection of an extinguished debt.

    All postings are first impression opinions only, and are not intended to be taken as legal advice or to be acted... more

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