Debt Relief – Insolvency – Bankruptcy Information » Debt Consolidation and Refinancing » Can you tell a debt consolidation company to stop collecting?

Can you tell a debt consolidation company to stop collecting?

January 13th, 2012 | 4 Comments

Over a year ago, I was stupid enough to turn to a debt consolidation company to settle a large past due debt. But in over a year, the debt still has not been settled. And now the debt is past it’s statutes of limitations (SOL) I, at this point am no longer legally tied to paying this debt, and the consolidation company is still collecting from me monthly.

So before I call up the consolidation company and pose this dilemma to them, and possibly wind up making a fool out of myself. Can I even ask them to stop any and all collection for that debt, because of the SOL?

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Filed under: Debt Consolidation and Refinancing · Tags: collecting, Company, Consolidation, Debt, Stop, tell

4 Responses to "Can you tell a debt consolidation company to stop collecting?"

1. CatDad says:

   January 13, 2012 at 9:09 pm

   If the debt was way past due anyway you should have saved your money yourself and settled directly with the creditor on your own. You’ve been flushing your money down the toilet paying this firm.
   Cancel your account and close any checking accounts that you gave them direct access to.

   Confirm the statute of limitations : https://sites.google.com/site/creditdebtadviceonline/statute-of-limitations-on-credit-card-debts

   Reply
2. sophieb says:

   January 13, 2012 at 9:20 pm

   The statute of limitations runs only if you have not paid on what you owe continually for that 4 year period (if the sol is 4 years). So since you’ve been paying (they’ve been taking your money so it can be paid) there is no SOL so yes you are still tied to paying the debt. A debt is settled when you pay it all. Sure call them and merely ask what’s going on and listen.

   Reply
3. P C says:

   January 13, 2012 at 9:47 pm

   If the statute of limitation has passed, you are under no obligation to continue paying the debt, and should contact your bank to put an end to the automatic payment

   Reply
4. Monty says:

   January 13, 2012 at 10:43 pm

   Many people often confuse debt consolidation for debt settlement, which is what I think your doing. A consolidation company cannot settle a debt, they often offer consolidation and that’s it. With this said, you enrolled into a debt settlement company given their working to (settle) your debt. In summary, as a manager at one of these firms – if something has exceeded the Statute of Limitations immediately cancel with the debt company and write the 3 credit bureau’s demanding that they are to delete this according to the FDCPA. I’m sure you can find alot of documents on how to do this, if not let me know and I can help.

   Reply

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