310.376.9865
A recent business model by the debt collector is to offer the unsuspecting “A fresh start.” The unsuspected is offered a fresh start if the unsuspecting agrees to pay a few hundred dollars on an old debt. Great deal -NO.
When a potential client indicates they haven’t used a credit card in years, the first thing a bankruptcy will ask, how many years? If a debt is more than 7 years old in California, the debt collector can no longer collect on that debt.
So once the unsuspecting has made a payment on the old debt in an effort to get new credit, he has reobligated himself to pay the old debt in full. The unsuspecting has moved the expired debt onto a new credit card, and is totally responsible for 100% of the entire debt.
So, if you receive a letter offering a fresh start, but somewhere in the small print the letter indicates the letter is from a debt collector – a warning bell should go off.
If you get a letter offering a fresh start if you agree to pay old debt, contact a bankruptcy attorney to examine the letter, and ask you a few questions, and to explain your options.
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Los Angeles/Orange County Chapter 7 Bankruptcy Attorney
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
