I received a notice in the mail today stating I owed 3000 on a car loan and they would settle for 1000. This was from a collection agency. I had no idea what this was since I own my cars. I called them and they said it was from 1993! I have no idea who this was even. Can they collect on a debt that old? I don’t even know who this car loan is for or for what.
It is my understanding they cannot!! there is a statute of limitations on things. It varies with the type of debt and it varies from state to state but from what I’ve researched there is a 7 year max on average no matter what. This debt is way too old. You dont owe it any longer in my opinion. Ask them to validate it. Unscrupulous debt collectors will try anything to collect and the minute you pay you can start the clock ticking again and its an admission that you owe. Ignore it! OR make them PROVE you owe it now. I doubt they can. Too much time has passed.