There has never been a payment made on the card ... it was received, used to maximum limit, and went into default shortly after that. I didn't know about the card until perhaps 2 years after this all happened.

Thinking back to when exactly this would have been, June 2005 seems about right, so we're about 7 months from SOL.

Thanks for all the insight!

I was referring primarily to section 8 in the document because your card ownership description was somewhat unclear. Anyhow, you're the primary cardholder, but the other person is also legally responsible for the expenditures on it even though coming after them now may not be practical or even feasible.

"Actionable" means you can have a court action filed against you OR be sued in (small claims) court. A statement of claim can be filed against you for 6 years after the debt went into default or from when you last provided a signed written acknowledgement of it. From your post, it's also unclear as to how long since the last payment was made. If it's been more than 6 years, then the the limitation (S.O.L.) period for filing a claim has passed.

Having said that, you're an unlikely candidate to be sued or whoever owned the debt would have done so long ago. They would be aware of your financial situation and concluded you weren't a good litigation bet.

It's frequent practice in the collections industry, for collectors to make a last gasp, faint hope attempt to recover a debt as it nears its S.O.L. date. After all, AK probably bought this debt for half a penny on the dollar and they make a profit by working the numbers.

It may well be on both of your credit reports for more than 6 years because debt buyers use the "Reported" date from when they bought the debt (not when it first went delinquent with the original creditor) in the "public records/collections" section of the bureau reports.

As well, they may load up your file with hard inquiries to try to get you to pay. It's usually a difficult task to get the bureaus to correct this misleading info because they don't want to offend their high paying member collection agencies.

So, the SOL in BC is 6 years ... so maybe that's why this new entity is coming after me for recovery.

The sections of the document you point out are for credit that was gained with a cosignor or guarantor ... that wasn't the case for me. This card was taken out in my name solely. Legally, it looks bad for me ... I'm on the hook until it goes away one way or another.

I have never dealt with AK at all, this is my first letter from them. I've never talked to them on the phone, and they sent this letter to a prior address which makes me assume they don't have current contact information.

You say that it is likely actionable ... what type of action? My credit is absolute stuff after a long stint of being a dumb young person and losing my job, etc. I defaulted on a Visa which was sent to collections, Rogers cancelled my phone and sent it to collections, etc.

What happens if the SOL is reached on this? What is on my credit report about it?

The BC limitation period is still 6 years if that's where the card was taken out.

Read Sections 1,2 and 8 in the link below below to see what applies to your case. But you are probably still on the hook until the 6 years are up.

http://www.lss.bc.ca/assets/communityWorkers/advocatesConference2008/debtAndCreditIssues.pdf

If you pay AK any money or send them a signed letter confirming ownership of the card, albeit still disputing the debt, you'll likely be restarting the limitation period. Best to keep all complaints with them to the telephone for now unless you need to settle.

Given that the debt is likely actionable; no, I definitely wouldn't ignore it.
AK is an debt buyer who diligently reports to both credit bureaus. If you pull your Equifax and TransUnion reports, you'll almost surely see your name listed under the Public Records/ Collections section of both - along with a significant dip in your credit score.

I've just received a letter from this company with the heading of "NOTICE OF INTENT TO PURSUE COLLECTION ACTIVITY".

It states that it is "Re: AKTIV KAPITAL ACQUISITION" for roughly $3000.00.

I have no idea who AKTIV KAPITAL ACQUISITION is, however I think I may know what the debt is. I think it's an in-store credit card that was taken out in my name by someone that was at one point close to me about 5 or 6 years ago.

It's basically just 5 paragraphs saying the same thing, "forward your payment in full to us now or die in a fire" (paraphrased, of course).

It says to dispute or file a complaint regarding the handling of this account, I should call "MR O'BRIEN" at "(000) 000-0000". It's then signed by the same "MR O'BRIEN" at "(000) 000-0000". Same as with other writers, it says that credit card payments will be billed as "Salma Sheikh".

I have no intention of paying this debt, as it's not mine to pay. Also, I think the amount is very skewed from what it was originally ... maybe $1800?

So the question is, should I just ignore it for now?