Merry Christmas to me.

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Merry Christmas to me.
4
Mon, 12-19-2005 - 5:34pm

I had an acct w/ MBNA as a teenager, and it was closed before I even got married and the credit limit was $3000 or so when it was closed.

Sarah
iVillage Member
Registered: 12-21-2004
Mon, 12-19-2005 - 5:59pm

I hate to hear of how much the amount you owed has increased - that alone is enough to about make you sick isn't it? I'm afraid that is exactly what is going to happen with my husband's three accounts. One of them only had a $1000.00 limit and now that it is charged off it is already close to $1500.00. I just don't know how in the world you ever win with these companies. I hate to just wait until they take furthera action - but with no money to do otherwise I guess we have no choice.

I really didn't have any good advice for you - just to let you know that I sure understand where you are coming from.

iVillage Member
Registered: 12-04-2003
Tue, 12-20-2005 - 9:28am
If this account is really your MBNA account and it's been closed over 10 years then most likely it is already past the statue of limitations. They cannot collect on a debt beyond the statue of limitations for your state. I live in Ohio and the statue of limitations here is 6 years for open accounts (credit cards) from the date of last activity but the negative information remains on the credit report for 7 years. If by some chance a collection agency tries to sue all you have to do is show up and argue the account is past statue of limitations to have it dismissed. Collection agencies like to try bully tactics to scare people into paying but in your case it sounds like you are most likely past the statue of limitations for your state. HTH.
iVillage Member
Registered: 03-27-2003
Tue, 12-20-2005 - 12:19pm


Be very careful. As the previous poster said, you are probably past the statute of limitations. HOwever, if you attempt to make a payment or negotiate, you may reactivate the account and start the clock over again. There was an article about this on MSN.com(money section) a few months ago.

Good luck!
Sandra

Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Tue, 12-20-2005 - 4:10pm

The statute of limitations in VA is 3 years for open accts and 5 years for written contracts (a cc can be considered either, but is usually considered open) and in DE, where the arbitration is, the limits are 3 and 3 (I'm not sure which state they'll use). Either way, I'm well past that point since I've made any payments (if it's my acct). My letter in response to the arbitration says that I have no record of that acct belonging to me, and that if they do verify that it is my account, I'd like to know when the last payment was made and to which company, b/c, again, I have no records of any transactions with anyone regarding that acct. I hope b/c of age they can't prove that it's mine, but if they do, I'm trying to bring up the whole statute of limitations without claiming ownership. I'm sending a copy to the attorney for the claimant and one to the Arbitration agency (per the instruction of the documents I recieved), both by Priority mail and both with delivery confirmation. I have until 1/15 to get it to them but I'll mail them by this friday.

Always something, huh? Incidentally, I read that sometimes they'll get you to make a token payment--even $1--to re-age the acct (which they can do even if the Stat. of lim. is up) and then immediately sue you for the rest. Nice. I KNOW I haven't done that!

It's a Girl!

Sarah