Old Debt Collection Question

[Anonymous]

Hi Everyone,

New to the forum but I have been a member of the site for some time.  So I received a call today from a creditor concerning a debt on my CR.  Now this is a valid debt (and I probably conceded that point on the call) but let me put out the back story.  This debt is for an account that was opened in 2004 and closed in 2005.  When it was closed, my report showed it as "charged off to bad debts" from VZW.  I contacted Verizon 2 years ago in an effort to take care of the debt and they simply said it was charged off as a bad debt.  So now, 3-4 years later they have sold the debt to Nelson Watson & Associates (or something like that).  Since this is such an old debt, do I have any recourse other than paying it?  I am in GA and I think the SOL is 6 or 7 years here.  I'm just looking for advice before I pay the thing in full.  I want to clean it on my CR but I don't want to get scammed.  Thanks for any help!

[llecs]

Make sure that VZW is no longer reporting on your CRs. They should not be (based on their own SOP).

If you want to pay it, then send a DV to the CA first. Very important. Once they verify, then offer a PFD based on PIF or your own settlement offer. If NWA hasn't reported, then modify the PFD to mention that they are not to report. You are right to be on your toes with NWA. I never heard anything nice about them.

[Anonymous]

Thanks for the advice but I'm a little slow on the acronyms

What is DV?  And am I right to assume CA is credit agency?

NWA already offered a PFD for PIF situation but are they actually strong enough to offer this?  The Verizon debt is still on my report....but I'm not sure if it is listed as Verizon or NWA...I am positive that there is just 1 listing, not 2.  

Thanks again!

[llecs]

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@Anonymous wrote:

Thanks for the advice but I'm a little slow on the acronyms

What is DV?  And am I right to assume CA is credit agency?

NWA already offered a PFD for PIF situation but are they actually strong enough to offer this?  The Verizon debt is still on my report....but I'm not sure if it is listed as Verizon or NWA...I am positive that there is just 1 listing, not 2.  

Thanks again!

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http://ficoforums.myfico.com/fico/board/message?board.id=Welcome&thread.id=23

You need to be sure exactly who is reporting before doing anything.