What is the SOL in NM?

[Caterina82]

What is the name of your state?New Mexico
Hello. I have an old debt from AVCO Financial. The original debt was dated in November of 1990 and the last payment activity was in 1993 or 1994. The balance at that time was either $300 or $500, can't recall. I've received a letter from CRU & Associates and I do believe they're attempting to illegally re-age this. Thanks for your replies!!

 

[Ladynred]

Illegal re-aging refers to the practice of changing the date of first delinquency on your credit reports. Sending you a dunning letter does not re-age the debt.

What kind of debt was it ? Credit card or loan ??

SOL in NM for credit cards is 4 years, 6 for a written contract such as a personal or car loan. Either way, if the last payment was made 10 years ago, the SOL has definitely expired.

Send them a cease and desist letter telling them never to bother you about this debt again as it is time-barred per NM statute. You can use this letter:

http://whychat.5u.com/nottoca.html

The statute you need for the letter is on that same site. Send the letter certified, RRR and keep copies of everything.

 

[Caterina82]

Thanks ladynred! I left a part out as to why I thought they may attempt a re-ageing. I got a pesky call about a month ago and was told they'd just purchased the debt and they'd hit my credit report with it again.

At any rate, the letter will work for that one! Thanks again!!

 

[Ladynred]

was told they'd just purchased the debt and they'd hit my credit report with it again.

For a 10 year old debt ?? They CAN'T put it back on your reports, not legally anyway. It doesn't matter who bought it or when, the debt is obsolete. IF they put it on your reports, SUE THEM for it ! Just watch your reports.