debt collection, statute of limitations question.

[CareyH]

Long story short, my friend was contacted by a debt collector about an old credit card debt(older than 6yrs which is the statute of limitations). I know they can not sue you after 6yrs, but he messed up and made a partial payment to them of $50. In Colorado does this reset the statute of limitations? I know in Colorado a verbal acknowledgement of debt does not reset it.

I know it generally does but all states are different, so I thought I would ask.

I found this but don't know if it applies.

From article 13 section 80

Indorsement of partial payment on note is insufficient. "Generally speaking, the rule is well established that the mere indorsement of a partial payment upon a note will not in and of itself toll the running of the statute of limitations." MacGinnis v. Pickett, 109 Colo. 169, 123 P.2d 410 (1942). ...
... upon plaintiff. In an action on a promissory note the burden of proving part payment so as to remove the bar of the statute of limitations is upon the plaintiff. Manby v. Sweet Inv. Co., 78 Colo. 371, 242 P. 51 (1925); ...

[def90]

Your friend got scammed.. The original debt holder likely charged this off their books and sold it off to said collector years ago. Now that he made a payment there is likely a contract in small writing obligating him to pay the rest to the collection agency.

[fitz19d]

Not a lawyer, but I seem to recall hearing that making a payment is acknowledging it or something and resets that clock.

[CareyH]

Another note, The payment was made over the phone with his credit card, he has not signed anything. That is why I am asking specifically if anyone knows if partial payment does indeed reset the time on the SOL.

[roberth]

Scammed. Years ago I settled an account, a couple of years ago some scammers tried to collect on the account. They sent one letter, I replied with my discharge notice from the creditor, I haven't heard from them since.

[MarkCO]

Was the change within the last 3 days? If yes, have him call the CC company and cancel the charge.

[Rooskibar03]

Yep he's on the hook. Making a payment brings the dead debt back to life and opens him up to more aggressive collection methods. Never acknowledge an old debt.

Lots of buyers scoop up old discharged debt for pennies on the dollar. They only need a small percentage of people to pay to make it worth it.

[CareyH]

Yep he's on the hook. Making a payment brings the dead debt back to life and opens him up to more aggressive collection methods. Never acknowledge an old debt.

That's pretty much what I told him. I was hoping I was wrong. I guess he is going to have to pay some stupid tax.....

[CareyH]

Was the change within the last 3 days? If yes, have him call the CC company and cancel the charge.

I think it was early last week, so I think that boat has sailed too.


Thanks for all the input guys

[CO Hugh]

You could file a complaint with the Federal Trade Commission. Colorado also has a debt collection agency.