CC debt past SOL in Florida...

[Rog]

I'd agree with Junker's post. Fl. has a lot of hoops for a creditor to jump through.

http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=254631

The first post in this thread has the elements that a debt collector has to prove to win in Fl. and if you're willing to make a fight out of it you should have a decent chance of winning.
I'd come down on the side of if, the SOL has run. Don't file-just defend if you get sued.

keepmine, thanks for your thoughts. When I received the letter from the court in January I assumed that I was toast. My jaw almost hit the floor when I found out the judgment was denied. It seems as though the judge was looking out for my behalf even in my absence. Then I realized (as you said) that debt collectors have to prove to win. Thanks for the link.

I was perusing local attorneys and found an office that specializes in credit defense. Reading their bio, it appears that these guys used to work for a large debt collector, and now have jumped on the other side and now respresent debtors. I guess it couldn't hurt to set up a consultation with them. But this might put me in the category of professional debtor.

[HHM]

You are buying into the misconception (and pure falsehood) that a BK actually negatively effects your credit for 10 years. Being reported, and negatively effecting your CR are different things.

Let me put it this way, if you are 55+, own a home, then wait out the SOL and defend accordingly. You don't need good credit (you already own a home), and there is not much they can do to you so long as you keep on top the lawsuits.

If you are under 55, don't own a home, or have aspirations to a larger home etc (i.e. want credit in the future), file BK now, bring certainty to your situation and begin your recovery NOW, file BK.

The SOL is NOT A SOLUTION, and No, this crap is not going to simply fall off your credit report as it is traded around. Missed payments, Charge offs, etc, are all on your CR for 7 years, and guess what, as collection agencies get your account, they simply re age (albeit improperly so).

Bottom line, there is a huge difference between having legal rights and enforcing legal rights. Give yourself a life gift, file BK and end the hassle.

[treehugger1]

Listen to HH. If one thinks "7-years" or SOL protect your credit, then you are in for a great deal of work in the future. You might successfully defend yourself against a suit with a SOL defense, but you will also spend a great deal of time looking over your shoulder and monitoring your credit reports on a daily/weekly/monthly basis and attempting to remove new derogatory info from your reports. If you have any desire to obtain future credit and maintain a CR that is free of all but the BK, then file now. I would guess that the deeper your collection accounts go into collections, the greater the chance you will need to deal with "cleaning" your CR years from now. If you could care less about your future credit, then it will not matter.

BUT, Your credit can affect far more than your ability to gain loans; auto insurance, healthcare providers, dentists, future employers, etc might view your inability to deal with your debt financing in poor light. I don't think a BK looks near as bad as years of of debt collections and judgments. In my opinion, I would think that in the future anyone with a BK, but solid employment with sound wages will come out ahead long before the BK drops from your credit record. JMHO

[Rog]

Thank you HHM and treehugger1, I'll arrange to speak with a bk attorney.

[MiSSMaGoo]

Do not settle for anything. The minute you pay them a dime the sol starts over. I'm not sure what the sol is in FL but I would say you'd have to be close.

[CompTweaker]

Im only speaking for myself when I say this, but I dont look over my shoulder or have a paranoid thought about any of those past debts now. As far as my CR goes, I could still care less what is reported or what my score is. I already have a home and dont plan on moving, my truck and motorcycle are paid off, and everything I have is still within the protection of my state's statutes.

Even if I did have assets worth more than the statutes, the SOL has expired and that is a drop dead kick to the jaw defense against anyone trying to legally collect.

[Rog]

Hi everyone,

I just wanted to give a quick update. I spent an hour with a bankruptcy attorney this afternoon. BK is his only practice and he's been at it for 12 years. He advised me not to file.

His advice was based on the age of my debts. The SOL have definitely passed and some of them will fall off of my credit reports in about a year, and others will fall off in less than a year.

He advised me to open a savings/checking account at a new bank (preferably credit union) as I have a checking with BOA and defaulted on one of their credit cards.

He also told me that since I haven't tried to rebuild credit in the past 6 years that I should do so. I should respond to/apply for a credit card and keep it at 10% - 30% utilization. I asked about secured cards, but he thought that I shouldn't have to if I didn't want to since my credit scores are in the low to mid 600's.

He was surprised that I was only sued by one creditor (for $16,500) whereas he has clients that were sued for less than $2000. I explained my lawsuit from 2 years ago and that it hasn't gone anywhere since...he told me that I probably didn't need to worry about it.

He told me that I kind of resembled a surfer. Somehow I managed to surf my way through this.

I asked about collection calls and letters and he told me to basically send them cease and desist letters. Told me to send them in writing and by certified mail. Build a paper trail in case they get out of line.

He told me to do my own credit repair. He said that he could help me but he charges $250 for 5 creditors (that would be $50 per letter). lol He also said that because he is a licensed attorney, he cannot demand the CRA to remove their entries if they are valid.

I was impressed with him...he knew what he was doing. He told me that if I saw him 3 - 4 years ago, bk was the way to go.

That's all for now...thanks everyone for your input!