collection agency bought debt

[schmidty]

What is the name of your state? ct
I have a debt from 97 with a credit card company that was bought out by a collection agency this year. They are charging interest and threatening court. What are my options. Is there a statue of limitation in CT on debt. They want it in full, or do I wait and go to court and make payments?

 

[bigun]

You're close. Here's the SOL for CT.

STATE: CONNECTICUT
INTEREST RATE

Legal: 8%
Judgment: 10%
STATUTE OF LIMITATIONS (IN YEARS)

Open Acct.: 6
Written Contract: 6
Oral Contract: 3
Domestic Judgment: 20/25
Small Claims Judgment: 10/15
Foreign Judgment: 20

A credit card is an open account. WHen did you last pay the orginal creditor? If you are beyond the SOL, go to this site for some useful info:
http://community-2.webtv.net/Y-chat/WhyChatsCredit/

There is a letter there to send to a ca notifying them of the SOL.

If you still have some time before the SOL runs, send them a letter demanding validation. Send it CRRR. Maybe that'll stall them long enough for the clock to run.