Collection letter after 8 years...

[Hevj1119]

I received a collection letter for an account (Sprint, ~$700)  that went delinquent 8+ years ago..  I tried to settle a year or so ago when I was hell bent on repairing my credit and they weren't interested.  It has since fallen off my credit report, they sold it to another CA who sent me the letter asking for $250 to settle it.

Now I'm as interested in settling as much as they were a year ago.  Just to be clear, they can't legally report to the CRBs right?  Also, is there anything I should / can do to get them to stop contacting me?

Thanks!

[guiness56]

No they cannot report it legally.

Send them a C & D.  But everytime it is sold you would have to do that with the new CA.

If, at anytime down the line, you plan on applying for a mortgage, you may need to pay it.  Or at least disclose it.

[Hevj1119]

Thank you for your response Guiness

We actually closed on our home in July (thanks to your expert advice throughout most of spring 2013 lol)  and so I don't foresee any mortgage applications for us in the near future.    I can draft a C&D letter to shut them up.  Thank you!

[RobertEG]

To be accurate, they can still report to a CRA.  The FCRA does not restirict their reporting, it restricts when any reporting can be included in your credit report.

The issue is whether or not the CRA can then include that reporting in any credit report they issue.

The debt collector is required to report the DOFD on the OC account to the CRA within 90 days after reporting their collection.

If more than 7 yrs plus 180 days has passed from that DOFD, ait must be excluded from any credit reprot issued by the CRA.

If the collection were to appear on your credit report, the issue would then be who is at fault.

The debt collector would be at fault if they reported an incorrect DOFD that resulted in its inclusion in your CR.

The CRA would be at fault if the reported DOFD was more than 7 plus 180.

[Hevj1119]

Thanks Robert!  I will keep an eye out for them if it's reported to the CRAs.

[Hevj1119]

So far it doesn't look like it's showing on my report...  they just sent a feeble attempt to try and scrounge up a payment.  Which I can appreciate, but I feel like their efforts are too little, too late as far as I'm concerned considering they gave me a big old "eff you" last time I tried to offer up some funds

[Shogun]

I'm assuming this debt is also passed the SOL of your state.  There are a couple states with elongated SOLs, but the age of this one would put it passed most.  It's also passed the CRTP, so essentially you have a "zombie" debt.  Now that doesn't mean the debt has gone away, it just limits the methods they have to collect.  They can't get a judgement and they can't post to your CR.  Basically all they can do is ask you to pay. 

I will advise you though to keep a close lookout for debts like these.  They tend to get sold to "bottom feeder" CAs that have less than scrupulous tactics.