To pay a collector or not...

Anonymous · ‎03-13-2008

OK, back when I was first out of my mom's house I made some financial mistakes. One was letting some bills go by the wayside. Years later, I'm married and a little more particular about my finances. Some of these old bills came up again about 7 years ago. and I paid the CA for ease of my own mind. A few months ago I read an article about how paying an old collection is actually a big no no, and could hurt your credit more than help. So recently I got this bill from a CA. I'm pretty sure it's probably the last of my outstanding "stupid" debt. The bill is very old, over 8 years old, and is for 163.74. They are offering me a settlement to pay half that amount, 81.87. Should I go ahead and pay this collection, or should I just let it go? I'm currently working hard on repairing my credit, and I don't want paying them to hurt me in the long run. Thanks.

Anonymous · ‎03-13-2008

What is the bill (CC, written, etc) and the SOL for your state?

It's "Junk Debt" and someone will try to collect on it forever. Truthfully, if past SOL and past CRTP - the only compelling reason to pay them is conscience

Anonymous · ‎03-13-2008

NOOOOOOOOOOOOOO send then a DV CMRRR they must answer within 30 days or stop all collections until they do.

Is this on your CR?

simple SOL

http://www.bankrate.com/brm/news/cc/20040116b2.asp?caret=8

Message Edited by HappyDays on 03-13-2008 01:52 PM

Anonymous · ‎03-13-2008

@Anonymous wrote:
The bill is very old, over 8 years old, and is for 163.74.

over 8 years... That seems kinda past SOL. Don't think they legally can claim it on your credit reports anymore in mostly all cases... unless government loans, ect.

Message Edited by ilovepizza on 03-13-2008 02:04 PM

Anonymous · ‎03-13-2008

Thank you very much everyone who responded.

The collection agency is called afnicollections. The bill is from Verizon, but it wasn't Verizon back then. It's from when I lived in Portland, Oregon. I have since lived in Arkansas for 8 years, so I know this bill is at least 8 years old. I don't know what the SOL is for Oregon, but my husband and I recently pulled our CR and there was NO mention of this collection on mine.

So I should just go ahead and rip it up and ignore?

What is junk debt?

Message Edited by Lyyssa on 03-13-2008 08:50 PM

Anonymous · ‎03-14-2008

shameless bump...