Legal Question in Bankruptcy in Pennsylvania
I received a letter from Simm Associates Inc. Stating that I have an outstanding loan from 2007 last pymt made in 2008 . Owner of debt LVNV Funding. Orginal creditor Equity One. It states in the letter that the law limits how long I can be sued on a debt. Because of the age of the debt your debt LVNV Funding LLC will not sue and will not report it to any credit reporting agency. They are saying this an attempt to collect a debt. Our client has retained us review your account and commence collection. Do I have to get in touch with SIMM Associates Inc? Do I have to pay this?
2 Answers from Attorneys
No ans you may have a claim against them speak to an attorney.
Court cases determined under the Fair Debt Collections Practices Act, have held that a debt collector, such as the agency who contacted you, is prohibited from commencing suit beyond the statute of limitations. That is 4 years after the last payment. The same Act requires that they advise you they are a debt collector seeking to collect a debt. However, simply because they cannot sue, does not mean they cannot attempt to collect it by calling and writing.
So, you don't need to contact them nor settle this debt, but they may very well contact you in the future for the same reasons.