Re: Capital Management / Sherman

Posted by Why Chat (209.240.198.61) on March 30, 2003 at 15:38:53:

In Reply to: Capital Management / Sherman posted by Mimi on March 30, 2003 at 14:04:19:

Colorado has a 3 year SOL (statute of limitations) for credit card accounts.This means the account is no longer legally collectible (they can't file suit to collect)

In addition, Colorado is a "closed border" State, which means that any collection agency MUST be either licensed and bonded in Colorado, OR licensed and bonded in their own State. Since neither Sherman,or Camco are in a State that REQUIRES licensing and bonding, they are NOT allowed to have ANY collection activity in Colorado.

Send them a cease and desist SOL letter, (from my website) report them to the Col. Attorney General's Office and the FTC and DO NOT even THINK of "settling" for a ¢, it will only be $ down a rat-hoe, re-age the account on your report and reward these scumbags for their illegal activity.

COLORADO
STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 3
COLLECTION AGENCY BOND & LICENSE Bond: $12,000 - 20,000
License: Yes
Fee: Determined by collection agency board
Exemption for out-of-state collectors: Out of state collectors are exempt if
[1] collecting only by interstate means (phone, fax, mail);
[2] have no Colorado client; and [3] are regulated an\d licensed in the state in which they reside.

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