Using debt validation and verification requests to stall collection agencies.
I received a collection notice from a company representing a credit card debt purchaser, not the original creditor but I believe the first to buy it. The last payment on the account was in October 2006. The first late payment posted in November. I am in GA which I see is six years on the SOL.
As I am nearing the end and would rather not pay for something I still can not afford, should I used debt verificaiton to stall the process to reach the sol? And legally, is it up in Oct or Nov?
If the debt is not affordable, you really don’t have many options. As close as you are to the statute of limitations (SOL) could mean your requesting the debt collector provide verification or validation of the debt would get you past the point where the debt buyer could legitimately sue in their effort to collect from you.
How does debt validation work?
Requesting debt validation on accounts purchased by debt buyers has become increasingly effective at stalling out collections until you can come up with a plan to tackle old debts. Debt buyers rarely get all the documentation they need to substantiate their collection claims when they buy up bad debt. The older the debt, the more likely the account has been sold multiple times, which further removes the debt owner from being able to access the documentation they need to prove up their claim.
If you send a debt validation request certified return receipt requested (I think this is what you meant when referring to debt verification), you may not hear back from the debt collector. That could be because they cannot validate the debt. That may end up taking you past the SOL for being sued to collect. Some junk debt buyers still sue after the SOL is expired. You would have to answer the complaint if that happens. Don’t just assume because the SOL has expired that the court knows it. They don’t. You have to raise that as a defense. If this were to occur you should speak with an attorney in your area that is familiar with consumer law and collection and creditor defense.
As far as answering your question about when the SOL has “legally” tolled in Georgia, that is a question for an attorney. In general though, the clock starts ticking as soon as you miss your first billing cycle. The way I understand the background you provided that would have been November.