Original Creditor Has Picked Up Account Again

[flora maestas]

What is the name of your state? NM


I lost my job in December, 2000 and was able to pay off
all except one of my credit cards with my retirement fund that I cashed out at that time. Anyway, I have since learned about the SOL and other useful information from this website. This particular creditor (Providian Bank) referred my account to another collection agency to whom I wrote a letter about 9 months ago asking them to cease and desist collection and stating the SOL had expired.
I did not hear another word about this account after that, until yesterday when I got a settlement offer in the mail from a different collection agency stating that they had purchased my account from Providian. My question is...
I have all documentation from the first collection agency, my letter to them, receipt of mailing, etc. Do I have to go through the same process with this agency? I understand that they have the right to attempt to collect this debt, however, it is my understanding that no judgment can be brought against me with the expired SOL along with my proof of having advised them accordingly, in writing. Isn't this new agency subject to the same restrictions for collection and judgment? Also, how can Providian sell an account like this where the SOL has expired? I would appreciate some clarification regarding this matter?

 

[zippysgoddess]

They can sell the account whenever they wish, in an attempt to try to recoup some of their money. Just because it is past the SOL, it doesn't mean you don't still owe it, and they don't still want their money. Each collection agency that gets it is hoping they will be the one to talk you into, or scare you into paying the debt. These CA's buy these debts for pennies on the dollar, so if they can get you to pay up, they make a nice profit from it.

Yes, you will have to send the same C&D letter to this new agency, they are not bound by something you sent to a totally different agency.