Expired SOL letter sample
This is the letter you sent to a creditor or a bill collector if the Statute of Limitations on debt has expired. Expired SOL letter should be short and to the point. Always check your SOL before offering to settle any debt. If Statute of Limitations has expired, no one can force you to repay. However, you must understand that you were and still are responsible for the debt, and not just because of moral implications, so stop laughing now. Such a letter simply informs the creditors that you know your rights. The expired SOL does not prohibit them from attempting to collect the debt. And this matter can still be pursued in court, and if it is, then you will be summoned and must appear to raise the expired SOL issue, so the case will be dismissed for good. If you fail to appear in court, your creditor or collector may get a default judgment against you and then, they will be the ones laughing and laughing loud. Find your State statute of limitation on debt collections and while your at that, check statute of limitation on judgments. Now, proceed to the Expired SOL letter sample, which should be mailed by register mail with return receipt requested.
Date {MM/DD/YYYY}
Your name
Your address
Phone/fax/email
Creditor/collector name
Creditor/collector address
Re: {account number}
Dear Sir or Madam,
This letter is in response to your letter dated {MM/DD/YYYY} with the copy attached or the phone call made on {MM/DD/YYYY}, concerning the collection of the above referenced account. My intent is to dispute the debt validity since I do not believe I owe what you say I owe as well as to notify you that I have verified with my State Attorney General that the Statute of Limitations for enforcing this type of debt through the courts in {your state or the state where the contract was signed} has expired.
As you can see, I am well aware of my rights under the Fair Debt Collection Practices Act and my state laws. To save my time, and your time and money, please stop pursuing this debt. Should you continue with this matter in court, I will inform the court of my dispute of this debt and that the Statute of Limitations has expired.
This letter also serves as the formal notification that I consider this matter closed. I demand that you, or anyone affiliated with your company, stop contacting me regarding ANY matter, except to inform that your debt collection efforts have stopped or that you or the creditor are taking specific actions allowed by the Fair Debt Collection Practices Act or my state laws.
Furthermore, I will consider any contact not in accordance with the Fair Debt Collection Practices Act a serious violation of the law and will immediately report any violations to my State Attorney General, to the Federal Trade Commission and, if necessary, take whatever legal action is necessary to protect myself. Be advised that I tape record all phone calls and violations of the Fair Debt Collection Practices Act can result in you or your company being personally fined up to $1,000 per incident.
Your signature
Your printed name
Tue Nov 24, 2009 11:11AM by Tony | More in Debt Relief | Comments (0)
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