Paying collection after it is removed from credit report?

[Anonymous]

Hey everyone, I was thinking of contacting the collection agency which holds a debt that went delinquent in 2007. It fell off my credit reports this year, however I don't want to be hounded with zombie debt years later? Is it a good idea to pay them the amount, or let sleeping dogs lie?

And if I pay them, would they be able to update and re-report the collection as paid even though it is past the CRTP?

Another thing I should mention is that I have no hard copy proof of the debt falling off my credit reports this year, even though I know it was supposed too but I forgot to save the credit reports proving the fall off date for this year. That's why I am wondering if this is a good idea, because if some dishonest collection agency decides to update the the debt as paid, they could illegally re-report it as "new" even though it's paid, and then it would stay on my reports for an additional 7 years.

[Whitneyy]

No, they cannot re-report. But what you can do is pay them a percentage of what's due. Maybe between 10-30% of the debt, and if you don't want them to contact you, you can also do a cease and dease letter to them. 

[MarineVietVet]

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@Anonymous wrote:

Hey everyone, I was thinking of contacting the collection agency which holds a debt that went delinquent in 2007. It fell off my credit reports this year, however I don't want to be hounded with zombie debt years later? Is it a good idea to pay them the amount, or let sleeping dogs lie?

And if I pay them, would they be able to update and re-report the collection as paid even though it is past the CRTP?

Another thing I should mention is that I have no hard copy proof of the debt falling off my credit reports this year, even though I know it was supposed too but I forgot to save the credit reports proving the fall off date for this year. That's why I am wondering if this is a good idea, because if some dishonest collection agency decides to update the the debt as paid, they could illegally re-report it as "new" even though it's paid, and then it would stay on my reports for an additional 7 years.

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Even after the negative drops off your report collection efforts can continue forever.

Paying this off will stop any future contact by collectors.

And as stated once the CRTP has expired the debt can never (legally) be reported again.

[RobertEG]

+1

Paying satisfies the debt.

CR exclusion simply makes discovery of unpaid, delinquent debt a bit more difficult, as it is not discoverable by only a simple pull of your CR.

But it remains.

Future creditors may ask for disclosure of any unpaid, delinquent debt as part of the application process.

Credit report exclusion is not basis for omitting disclosure of an unpaid debt. 

[Anonymous]

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@RobertEG wrote:

+1

Paying satisfies the debt.

CR exclusion simply makes discovery of unpaid, delinquent debt a bit more difficult, as it is not discoverable by only a simple pull of your CR.

But it remains.

Future creditors may ask for disclosure of any unpaid, delinquent debt as part of the application process.

Credit report exclusion is not basis for omitting disclosure of an unpaid debt. 

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That's interesting. If the collections are not on the credit report, how will the creditors know that the collections exist if I don't tell them?

[Anonymous]

Usually sometimes they will ask you to list them and be honest.