topic Re: Question about collections in General Credit Topics

Question about collections

Anonymous — Sat, 21 Feb 2009 22:12:26 GMT

My husband and I cleaned up all outstanding balances and collections on our credit report. Now, after 9 years a Sears credit card pops up that we forgot completly about. I got a collection letter today and its states that

there was a judgement against us for 2 grand back in June of 2000.

Now they want to settle for half the amount. I had no idea and it was never on our credit reports. Can they come after us now. What should i do??

Do these companies in some way know that weve been paying things off??

Re: Question about collections

llecs — Sun, 22 Feb 2009 01:26:20 GMT

They can continue to collect forever, however the judgment already occurred and very likely the time limit for any action to be taken against the judgment (e.g. garnishment) has passed.

These junk debt buyers sometimes will soft your CR at random. It is my understanding that they have a way to subscribe to see if there's any major changes to your report. I read many stories in here of people who have clean reports and no active collections, only to be hounded and faced with a baddie when they app for something big like a mortgage.

If you ever choose to pay them, be sure to pay in one payment and to DV first, but legally they probably can't do anything.

Re: Question about collections

Anonymous — Sun, 22 Feb 2009 02:35:23 GMT

Thats exactly what we did , we are 5 days away from closing. The letter is dated Feb 20th. They asked me to reply or pay by march 31st. I was told they have to give me 45 days to repond or pay before they can put it on my credit report. Is that correct? March 31st is the 45 days...right??

Re: Question about collections

llecs — Sun, 22 Feb 2009 04:16:25 GMT

A CA can place the collection on your report at anytime. However, if the judgment was in 2000, your DOFD was likely years before that. According to the FCRA, a CA can only report for 7 to 7.5 yrs past DOFD. In other words, if this CA is collecting for your debt that you were already sued on in 2000, they cannot report without breaking the law.

Re: Question about collections

Anonymous — Sun, 22 Feb 2009 12:21:54 GMT

Well that makes me feel better. there like predators!! i forgot about Sears all these years it pops up now. I do not even remember getting anything to appear in court. Thats weird. If i remember correctly this was back when my kids were in grade school . so thats 90 to 97.

The other problem is the CA's tend to mix up my son and my husband...I had to straighten them out a few times.