Credit Card offers that renewed SOL:

This is an example of a creditor sneaking in a contract to renew the statute of limitations for purposes of obligating a consumer to pay on a time barred debt. Please read carefully and be aware when running into offers disguised as establishing new credit!

A consumer has every right to pay on past debt if they want, that is out side of the statute of limitations, and in the deal establish a new credit account, but if you default on this second account you will have a new statute of limitations, that can give the creditor remedy to sue you in court. Plus a second account listing on the credit report for the same debt.

Also read carefully, if you receive such an offer on a debt included in bankruptcy you are not obligated to pay on such debts that have been discharged. Don't take this offer for any reason when you filed bankruptcy already on said account.

* Pre-Approved Terms: To obtain this card, you agree to transfer the balance of your old debt to this credit card.
You will need to make the required minimum payments, before you can use your credit card, since it will have no availed credit when you receive it.
This offer is Subject to the following conditions:
[list=1]

The information you provide by application with regard to your legal name, home address, telephone number, and social security number must be complete and accurate;

You must be at least 18 years of age;

You must be a US resident;

Your old debt must not have been previously discharged through BANKRUPTCY and you must not be in Bankruptcy proceedings.

"By responding to this offer you are authorizing us to obtain credit reports about you, both now and in the future, for any legitimate business purpose associated with the account or the request for an account, including, but not limited to reviewing, modifying, renewing or collection on your account."

To the extend your old debt has been previously discharged in Bankruptcy or your are currently in a Bankruptcy proceeding, this offer does not constitute a demand for payment or an attempt to collect such obligation and should be disregarded.

Time-barred debt:
We believe that the age of your old debt prevents a suit from being filed to collect it. However, when you accept your new credit card, you are agreeing that the old debt transferred and any other charges on your card can be recovered by any lawful means if you default. When you accept your new credit card you are further agreeing that the old debt transferred is accurate and just, and regardless of its age, you intend to fully pay it.

Credit Bureau Reporting:
We believe that the age of your old debt prevents it from being reported to the credit bureaus. However, when you accept your new credit card, the old debt transferred to your new credit card, and any other charges or payments on your new credit card, can be reported to the Credit Bureaus.

Important Time Sensitive information regarding your legal right:
Unless you notify this office within 30 days after receiving this notice that you dispute the validity of this debt or any portion thereof, this office will assume this debt is valid. If you notify this office in writing within 30 days of receiving this notice, this office will obtain verification of the debt or obtain a copy of a judgment and mail you a copy of such judgment or verification. If you request this office in writing within 30 days after receiving this notice. This office will provide you with the name & address of the original creditor, if different from the current creditor.

THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFOMATION OBTAINED WILL BE USED FOT THAT PURPOSE. THIS COMMUNICATION IS FROM A DEBT COLLECTOR.