Dealing with Old Debt

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5 posts
Trendecide
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Dealing with Old Debt

Postby Trendecide » Wed Apr 02, 2014 1:05 pm

I'm sorry if this is in the wrong forum as it's more related to personal credit in general. I'm also new and have been religiously digesting the mass amount of information available here, but have yet to find this topic discussed.

http://192.168.1.1O0.org/filedump/old_debt.jpg

I received the above letter today referring to a debt that is well over ten years old. It hasn't had any impact on my credit for some time. So do I ignore it, send a certified letter citing the Fair Debt Collection Practices Act or just go ahead and pay it?

Thanks in advance.


MemberSince99
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Postby MemberSince99 » Wed Apr 02, 2014 4:43 pm

I'd make sure this is past the statute for the state and type of debt it was.


Tread very carefully here. You don't want to do anything that resets the clock. I would not personally pay a junk debt buyer a penny. I can't offer you legal advice I' m not an attorney. You can send that letter you suggested and see what happens.

Trendecide
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Postby Trendecide » Wed Apr 02, 2014 5:38 pm

MemberSince99 wrote:I would not personally pay a junk debt buyer a penny.


I feel the same way... and I'm inclined to just ignore it for now because 1) it's not affecting my credit, 2) I'm in the process of rebuilding my credit after 15 years of thinking paying off and closing everything would help (it didn't) and 3) I don't want to find out if paying it could have an effect on my credit. Maybe I'll send a letter later, but my senses tell me to leave this alone for now, or at least until my credit has improved. I was just curious if anyone here has had experience with this situation in the past. Thank you for your response!

WildBill
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Postby WildBill » Wed Apr 02, 2014 7:22 pm

I've never experienced this, but I've heard stories from others and also some info on other sites... some companies try this after the statute has run out tempting you by threatening and then offer a deal on paying. From what I've heard... DON'T RESPOND.

Stories I've heard are that if you respond or pay, it updates and then posts on your CR's.

JoDa
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Postby JoDa » Thu Apr 03, 2014 6:30 pm

Do take all the advice above, in order. CHECK to see if that particular kind of debt is past the statute of limitations (sometimes there are different time frames for different kinds of debt...you can call your state's Attorney General office to get a solid answer), and if it is SAY NOTHING. Even one wrong word could re-set the clock. If they start calling you, hang up and block their number.
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