Debt collection question

[slownbmta]

Had a credit card that I didn't pay like 10 years ago when I was young and dumb (Bank of America). Was on my credit as a chargoff for many years. Eventually fell off and I haven't had any contact or anything on it since then (6-7 years).....

Got a letter in the mail this week from a collections agency stating they purchased the debt and "Unless you notify the office in writing within 30 days disputing the validity, the office will assume it is a valid debt blah blah blah and report it to your credit" Sooooooo... do I send a letter? Or what? Isn't there a Statute of limitation or something to prevent them from adding it back to my credit after this long? My credit is perfect now, and that is the part that I am most concerned about. It says if I send the letter they will obtain proof of the debt and mail it back and proceed from there.

[Shaggin Wagon]

To my knowledge which isnt much, if you respond to them, it will reactivate it. I would ignore. I think its a Tarp!

[Buick355]

Ignore it, they can't do shit. I wouldn't contact them at all.

[Geor!]

Had a credit card that I didn't pay like 10 years ago when I was young and dumb (Bank of America). Was on my credit as a chargoff for many years. Eventually fell off and I haven't had any contact or anything on it since then (6-7 years).....

Got a letter in the mail this week from a collections agency stating they purchased the debt and "Unless you notify the office in writing within 30 days disputing the validity, the office will assume it is a valid debt blah blah blah and report it to your credit" Sooooooo... do I send a letter? Or what? Isn't there a Statute of limitation or something to prevent them from adding it back to my credit after this long? My credit is perfect now, and that is the part that I am most concerned about. It says if I send the letter they will obtain proof of the debt and mail it back and proceed from there.

Just ignore it or send them a CEASE AND DESIST letter. They can't do a damn thing and they know it. Had one call me three weeks ago. I identified myself and they went into their spiel. I asked them what the date of default was and they said 2003. Told them we had no business talking and hung up. Haven't heard back from them, nor will I.

[dcs13]

So how much do you owe? Since you're all grown up now, pay your bills... You're not paying just cost the rest of us who keep up with our shit...

[krazy kris]

If you can afford it pay it you can't put a price on good credit

[347Mike]

So how much do you owe? Since you're all grown up now, pay your bills... You're not paying just cost the rest of us who keep up with our shit...

I am no Rocket Scientist but if he were to give in and pay a debt that has already fallen off his record wouldn't he be accepting it and potentially put it back on his credit?

That sounds like the grown up thing to do....

[Geor!]

If you can afford it pay it you can't put a price on good credit

The thing is, if he does pay it back, it reopens that account and he'll still show to have an account that has entered collection. Paying back that money will actually hurt him, which is the fucked up thing.

[slow99]

Just ignore it or send them a S&D letter. They can't do a damn thing and they know it. Had one call me three weeks ago. I identified myself and they went into their spiel. I asked them what the date of default was and they said 2003. Told them we had no business talking and hung up. Haven't heard back from them, nor will I.

S&D letter?

[Geor!]

S&D letter?

You know, Seece and Decist.

Was a typo.

[347Mike]

S&D letter?

Sease and Desist letter, duh!

[krazy kris]

The thing is, if he does pay it back, it reopens that account and he'll still show to have an account that has entered collection. Paying back that money will actually hurt him, which is the fucked up thing.

But can't you negotiate a letter of (I forgot what the letter was) but it states they won't reopen your account with a paid in full transaction. I have done this before

[slownbmta]

So how much do you owe? Since you're all grown up now, pay your bills... You're not paying just cost the rest of us who keep up with our shit...

Not that I owe you an explanation.....but.. I had about $20000 in credit card debt at the time between 5-6 cards. I got a loan for as much as I could ($16-$17K) and paid off all the cards. That card was the last one and had already defaulted. I owed like $4000. I only had $3700 left from my loan. They said that they wouldn't settle for any less. I even offered to pay the $3700 and pay the difference in a month. They said that they could not accept any partial payment......sooooooo they didn't get paid. Now it shows a $11,284.01 balance with interest and penalties

I suffered the consequences of having bad credit from it for a while. Not like it was unpunished. But I have never missed/been late on a payment on anything since that time. And I never will.

[slow99]

You know, Seece and Decist.

Was a typo.

Yeah, guy I worked with once had a runaway abscess. Had to go in for a seize and decyst.

[Geor!]

Yeah, guy I worked with once had a runaway abscess. Had to go in for a seize and decyst.