topic Re: rjm acquisitions-Account from 1994 in Rebuilding Your Credit

rjm acquisitions-Account from 1994

Anonymous — Sat, 20 Mar 2010 05:32:56 GMT

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..

Re: rjm acquisitions-Account from 1994

MrChairman — Sat, 20 Mar 2010 05:32:56 GMT

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

Re: rjm acquisitions-Account from 1994

Anonymous — Sat, 20 Mar 2010 05:34:23 GMT

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

Re: rjm acquisitions-Account from 1994

Anonymous — Sat, 20 Mar 2010 12:40:06 GMT

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.