Legal Question in Credit and Debt Law in Massachusetts

Bank sells debt it wrote off
I did'nt pay on a credit card debt since 1990 or 91. The bank sent me a notice saying that the bank wrote the loan off as a bad debt. It was on my credit history for seven or so years. I recieved a call in Nov.99 from a financial group out of state. They said they had purchased my loan from the bank and wanted to collect on it. I asked them to mail me all the info reguarding the loan & told them the bank had written off the loan. They never sent me the info but have turned it over to a collection agency. I have not contacted or replied to any of their letters since their first phone call. Do I still owe this money and can they hurt my credit again ?

Asked on 2/07/01, 1:15 am

Michael Baldassarre Law Office of Michael J. Baldassarre

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Re: Bank sells debt it wrote off

It sounds like you have a case that the statute of limitations has expired.

I need to know more information, like is there a judgment against you for this debt.

A judgement is valid in Massachusetts for 20 years unless otherwise discharged in bankruptcy or the like.

Otherwise a party has in general 6 years to sue for breach of contract.

Call if you would like a free consultation (978) 465-5158

Answered on 3/25/01, 8:10 am

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