Several consumer advocates have noticed a new tactic recently from some of the credit card companies. This involves old debts that were charged off by the credit card company. If you have a debt to a credit card company that you have defaulted on and failed to make payment be aware of the following scenario. One credit card company Capital One has started sending out what looks like one of their typical monthly statements indicating that you owe a balance on the credit card account and that payment is overdue on the account. Most people look at this and think they just forgot to pay their credit card bill and send them a check.

The reality is these are old debts that were written off by the credit card company long ago. Many of them are accounts that were charged off more than six years ago. Many of them are beyond the statute of limitations for the debt to even be collected in the state of your residency. In Georgia the statute of limitations is six years for the creditor to institute a lawsuit on the debt. The start of the statute of limitations is measured from the last date of activity on the account for either purchases or payments. So if you haven’t made the payment in six years on this old account, the creditor cannot get a judgment against you in State Court as long as you defend against the action.

You can see the tactic that is being used with these fake monthly statements. If you receive one and send the credit card company a payment, you have restarted the statute of limitations from the date the credit card company posted the payment to your account. Also, it could be used as evidence in court. It could establish that you know that you recognize that you owe the debt and you have reaffirmed it by trying to make payment on this old account.

So be careful and check the account information out on the monthly statement you receive before you pay on a credit card statement. You may not owe to the credit card company. Look for more credit card companies to start using this tactic if it’s successful.