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Zombie debt activated? (BANKRUPTCY & CONSUMER CREDIT)

Fri, 04 Aug 2006 17:57:00 GMT

What is the name of your state? CO
Phone contacted by Arrow Fiancial Services regarding unknown debt on a credit card dating more than 10 years ago, my husband verbally agreed to a reduced payment over time and sent the first check. I then discovered that the debt was past the statutes of limitations both in CO and in TNm where incurred, and stopped payment (plus closing the account). This was followed by frequent phone messages with name and no. only, no affiliation which we ignored. A letter from Arrow arrived (March) stating that the check did not clear and balance due. Recently, we received a call and letter from a local lawyer/agency to the effect that we must respond within 30 days or the debt will be considered valid.
1. Did we incur an obligation to pay based on the verbal agreement made, albeit without receiving requested documentation?
2. Do we need a lawyer

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