New Member Posts: 5 Registered: ‎08-18-2008  Defaulted amount
and PG  [ Edited ]    I acted as a PG for a company that closed
8 years ago.  An outstanding amount defaulted 7 years ago
October.  When the default occurred, it was placed on my
personal credit report.  Since then, the amount due has been
sold to two different organizations, with the last now
threatening to begin civil action if I do not pay by the
beginning of September.  I previously requested documentation
(from the first company) showing I signed an agreement owing
them, which they could not produce.  What I'm trying to
determine...once the default is on my account, does it follow
the laws of personal credit?  Meaning...if they have no signed
paperwork saying I owed them money, or that I was ok with the
amount being sold to another vendor, they have no claim?  Also,
does the seven year rule apply?   Thanks much for your
assistance.  Moderator Emeritus Posts: 32,787 Registered:
‎08-04-2007  Re: Defaulted amount and PG  Per reporting, it has
to