I had a collection account about 3 years ago, actually it was a charge-off. At that point I didn't have the money and never settled. For some reason it dropped off my credit report. They actually served me court papers but the case was dismissed. I never got any information other then the original cout papers which did not even have a trial date. When I look up the case information on the court website, it says case dismissed, so I am assuming that they felt they dont have enough information.
Now, I am doing better financially and working on my credit scores, and a collection shows up from Palisades Collection. The original debt was about $4000, but not the balance is listed as $5334. It shows on my report as a collection account that is more 120+ days late. The debt was originally with MBNA but Wolpoff and Abramson was calling me at one point.
Obviously it has affected my score and I dont know where to start. Should I call them, should I write a letter? I have enough money to pay about half the balance but I want to do it in a way that affects my scores the least. Please give me some suggestions, thanks.