most states have notice requirements when a new collection agency buys the debt (for 3-7 CENTS per dollar) if you dispute and demand verification they have to prove within 30 days or cease all actions.
the absolute worst are the ones OUTSIDE THE STATUE OF LIMITATIONS . they want you to pay ANYTHING in order to reboot the statute of limitations.
That happened to my mother once and she was smart enough with it.
Several years ago my mother still owed on a car loan and the statue of limitations had expired. The collection agency even initiated a lawsuit. My mom had an attorney write a response and as soon as that was filed, they dropped the case. The lawyer said they will do all kinds of things in order to try and trick you into resetting the statue of limitations.
So if you have a debt that you havnt paid on and is past the statue of limitations, it is actually better for you to NOT pay it off. Because if you do it resets the statue AND it will actually worsen your credit score.
It’s a very odd system where you can be punished for doing the right thing.
“the absolute worst are the ones OUTSIDE THE STATUE OF LIMITATIONS . they want you to pay ANYTHING in order to reboot the statute of limitations.”
Even the IRS has Statute of Limitations governing their collection activities. And as nasty as they are at times, they respect the SOL.
There are law firms out there that make a high stakes living buying ‘debt’ for pennies on the dollar and then crucifying the person who most of the time cannot pay. Don’t pay them a dime - their actions are generally evil and illegal. Legislation generally has been protective, not of the debtor, but of the creditor.
The United States Government has been in Bankruptcy since 1933. The money each of you have in your pocket or in your bank accounts was created by debt. You are all permanent debtors. You are slaves to the World Banksters.