Ignore this old collection account, or try to settle?

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attrapereves
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Ignore this old collection account, or try to settle?

Postby attrapereves » Tue Jun 24, 2014 3:13 pm

My wife has a $170 collection from IC Systems on her report. It will be 7 years next May. She can't even remember what it's for, but thinks is may be medical related. Should we just let it fall off or should we contact them and try to pay a lower amount to have it removed?


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Terry
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Postby Terry » Tue Jun 24, 2014 6:28 pm

attrapereves wrote:My wife has a $170 collection from IC Systems on her report. It will be 7 years next May. She can't even remember what it's for, but thinks is may be medical related. Should we just let it fall off or should we contact them and try to pay a lower amount to have it removed?


Paying what we owe is the right thing to do; however, unless you have a pay for delete written agreement, payment on the account could result in restarting the 7 year clock.
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Postby rockyrock » Wed Jun 25, 2014 8:40 am

I agree, paying is the right thing to do. Just simply by contacting them you have to be ready for the worst case, if they don't agree to delete they will know you are out there. It could start the calls, letters, threats, etc. Seems kind of lame for such a small amount but I've seen worse.

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Postby MemberSince99 » Wed Jun 25, 2014 9:46 am

If you don't even know what it's for how do you know if it's legitimate? Paying a non-legitimate collection is not the right thing to do, it's giving in to an extortion attempt.


If it is legitimate that's another matter, but you aren't even sure what it is. I guess at this point, I'd look at it like it's a minimal amount of money, thus making it unlikely they will sue you, even if it is still in statute (though it being out of statute doesn't bother some of them any). But by contacting them, yes you could be opening a can of worms. But then again for the amount of money we are talking about so what?


I'd be VERY wary of dealing with them as a lot of these agencies are scumbags. It's going to fall off soon anyway I just might let it do that. They aren't likely to want to delete it even to get paid, but they may promise you verbally to do so if you pay today. Remember, a verbal promise is worth exactly what you can cash a verbal check for, at least in the eyes of the law which is where it counts.


I tend to think you have more to lose by contacting the vultures than you stand to gain. But it's up to you.



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