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rjm acquisitions-Account from 1994

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Anonymous
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rjm acquisitions-Account from 1994

ok I received a recent letter from RJM on an account dated 11/1994(16 years ago).

the letter give balance due and then says

 

4 OPPORTUNITIES

 

Dear XXX:

 

As you recall, RJM has purchased this account. Hear are 4 opportunities for you to consider:

 

Opportunity #1 Save 92.60, settle this account for 138.88(40% discount)/PAYABLE AT $40.00 PER MONTH.

Opportunity #2,settle this account for 162.03(30% discount)/PAYABLE AT $20.00 PER MONTH.

Opportunity #3 settle this account UNTIL BALANCE IS PAID AT $10.00 PER MONTH.

Opportunity #4 :GET A NEW CREDIT CARD, WILL PROVIDE A NEW GOLD MASTERCARD, WITH 0% APR ON THE INITIAL BALANCE DUE. THE ENTIRE BALANCE WILL BE TRANSFERRED TO THE NEW CARD. WHICH WILL HAVE A 0 BALANCE AFTER  THE BALANCE IS DUE. FOR 35.00 MONTH.

 

I have until April 24th, 2010 to respond.

Here's the thing, the account is form November ,1994(16 years ago)  and is not  showing on any  of my credit reports.

should I  PFD ?, take the card? , ignore it, What??

 Comments please..

 

Message 1 of 4
3 REPLIES 3
MrChairman
Established Contributor

Re: rjm acquisitions-Account from 1994

I personally wouldn't even respond to this letter. Nothing they can do to you at this point for an account dated 16 years ago. If they do eventually put it on your CR, just dispute it and it should be easily deleted.

 

-The Chairman


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 684 (12 SEP 2016), Equifax: 696 (12 SEP 2016), Experian: 679 (12 SEP 2016)
Goal Score:All scores All scores at least 700+ by December 2017!!

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Message 2 of 4
Anonymous
Not applicable

Re: rjm acquisitions-Account from 1994

Ignoring it was my first inclination. when I turned over the letter ,it had the date(1994) of  the account listed. Weird!

Message 3 of 4
Anonymous
Not applicable

Re: rjm acquisitions-Account from 1994

I have until April 24th, 2010 to respond. Here's the thing, the account is form November ,1994(16 years ago)  and is not  showing on any  of my credit reports. should I  PFD ?, take the card? , ignore it, What?? Comments please.. 


This is what's known as "junk debt". There is no need to PFD this, because (as you already noted) it's not reported-- you 'pay for delete' items that are reported on your credit report(s). As long as you're absolutely certain that you're beyond the SOL, you could ignore them, or send them a C&D letter. Under no circumstance would I take a pre-paid/secured card from a CA, at any time, let alone for junk debt. The balance would probably report to your credit report. If you ever stopped paying, you'd end up with a brand new collection on legally re-aged (at your own hand) debt. 

 

*IF* you recognize this debt, *IF* you believe you owe it, *IF* you feel morally obligated to pay it (assuming that the SOL has expire and that you can no longer be legally compelled to pay it), and *IF* you don't have more pressing obligations, such as current debt within the SOL, a non-existent or inadequate savings/emergency fund, etc... then DV them, make them prove that a) the debt is yours, and b) they own it and have a right to collect, and then pay them (one payment) with money order. *IF* you feel some obligation to pay.

 

 

 

Message 4 of 4
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