Please Know Your Rights Before Dealing with Portfolio Recovery Associates or any similar company
Please understand that these people obviously are building a business based upon the lack of knowledge of the average person. They buy up old uncollectible debt and then bank on harrassing people who do not know their rights into making payments to them.
There IS a statute of limitations on all debt - the amount of time in which you can be sued for the collection of a debt varies state to state. Once the statute of limitations is up, there can be no legal action to collect the debt. Additionally, agreeing to "work with" individuals such as Portfolio Recovery starts the clock all over again, at which time they CAN legally pursue action to collect the debt. They can even choose to file suit against you after the statute of limitations has expired and it's up to YOU to defend the action by showing in court that the statute of limitations has expired.
If you go into court and fail to assert this defense....then you can end up with a judgement against you. Know your rights and defend yourelf legally and don't allow these people to trick you!
Location: Selma, Alabama
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Comments
Please avoid publishing any personal information and promotional content
Bump. Agree to NOTHING w/ these slimeball scammers.
See ^ comment on Statutes of Limitations (SOL -- Has different meanings in different contexts.) I'm now being 'pressed' by the IRS on 1099-C forms that have nothing to do with or about me. This "econo-terrorism" needs to be stopped ASAP (As Soon As Possible, to you civilians).
Imagine, a mini-evil-bernie-madoff! & we thought Saddam Hussein was bad!
You are correct and this is one of the better posts I have read. Keep telling people!