I have a relative who has asked my help with a debt that is most likely out of the SOL.
She's in Michigan, it's a credit card debt (and thus is considered unsecured debt), and she has no idea when the last payment was made. It's possible she paid on it in the last few years and started the SOL over again.
The way I read the SOL for Michigan, this debt should be uncollectible, if she hasn't paid on it in several years:
Should I have her find out where the company that's collecting is located, in case THEIR SOL applies instead of Michigan's?
Also, those of you experienced with SOL - am I right in thinking this debt is outside the SOL for Michigan?
She has some collection company calling her now and saying they're going to take her to court if she doesn't pay the balance in full, and won't make any payment arrangements with her. (It's National Enterprise Systems.)
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.