WARNING: Credit Card Sweeps

[ravred]

Recently, Capital One had a sweepstakes. I don't know if anyone won. But I sure got a lot of grief.
I've owed credit card debt to Capital One for 30 years. It was only after I entered this sweepstakes, they began sending me letters wanting their money ($3,000). So they found me thanks to the sweeps after 30 years no less. So, be careful which bank sweeps you enter, if you have past debt with them. Sweepstakes may be a way of finding you, since they know you're looking for money too.

 

[curmudgeon]

Google "statute of Limitations" You'll find a wealth of information. Here's one:

http://www.bcsalliance.com/y_debt_sol.html

When does the statue of limitations start?

http://credit.about.com/od/statuteoflimitations/f/startsol.htm

 

[aurora777]

Why didn't you just pay the $3,000? Split up over 30 years, it's not exactly a crushing debt.

 

[ravred]

Aurora777,
Because they are a lousy banking institution and vultures.

 

[lidarkside]

We have been Capital One customers for years and never had a problem with them, and you can't really hold it against them for trying to collect a debt that is due them. I can't even begin to imagine how much that debt is now with interest after 30 years. That's got to be at least $13,000 in interest alone!!!!