If I have a charged off debt that has been sold to another party, what is my legal responsibility?

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If I have a charged off debt that has been sold to another party, what is my legal responsibility?

The debt was charged off 7 years ago and no longer appears on my credit report. I had been repaying the debt until several months ago. I refused to continue until I received an itemized statement so I could confirm the balance. Then the debt was sold. Should I ask for proof of debt and an itemized statement here as well? What can I expect from this third party?

Asked on November 23, 2011 under Bankruptcy Law, South Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

If the debt that you were writing about was written off seven (7) years ago and no lawsuit has been filed against you for this debt, there is a good likelihood that under the laws of your state that the debt claimed against you would be time barred by the applicable statute of limitations.

You should consider taking the position that the debt claimed is time barred and write the third party debt collection company a letter to that effect keeping a copy for future use. I surely would want a copy of the proof of debt, an assignment of the debt to the third party debt collector and an itemized statement as well.

You need to be aware that there are scams out there by entities claiming to be legitimate third party debt collectors in this country.


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