The debt collector does not have any contract with you in order to pay him. You better check information on how to deal with debt collection agencies.

I'm residing in the state of California. I defaulted on a credit card debt 4 years ago due to financial hardships. Now am in a position to repay some of the amount and want to settle somewhere. Will simply calling the lender reset the Statute of Limitations from the beginning?

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The credit card debt is always 'charged off' after 180 days, and a 'debt buyer' buys this debt at a very small price.The debt collector does not have any contract with you in order to pay him. You better check information on how to deal with debt collection agencies. Yoo need to ask them for 'proof of ownership' like a contract in which you agreed to pay to the collection agency. Even that you pay now after 4 years your credit card debt, money will not go to the original creditor/credit card. Also check the 'Fair Debt Collection Preactices Act' - where you will find about your rights in coming in contact with debt collectors. Try to get a knowledge about debt collection agencies and debtors.

Good luck!

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Just calling the credit card provider won’t do anything wrong to you. However, if you make a payment or sign any kind of tolling agreement, it’ll restart the debt clock or the statute of limitations. However, before you take any step, check with the Statute of Limitations period for written contracts in the state of CA.


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