How should I handle a 5 year debt? Pay it or not?

[Anonymous]

Hi,


I have a debt of less than $100 that I didn't owe, and have disputed for a number of times. One credit bureau file shows a drop off date of November, 2012. Other two accounts shows its 7th year to be in 2014. So, that means that one account is reporting it to be about 7 years old and the other is reporting it to be about 5 years.

I recently disputed the age with equifax and transunion and they claim that the creditor has validated it to be only 5 years old.

The account shows closed and in collection with the original creditor. The creditor has refused to delete it even if I pay it off.

What should I do at this point?

1. Does it even make sense to pay it off?
2. How would it affect my credit score, if I pay it off?

3. How do I handle the fact that one bureau shows expiration date of 2012 and the other two bureaus shows dates of 2014?

Thanks for taking my questions.

[Tommy5746]

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@Anonymous wrote:

Hi,


I have a debt of less than $100 that I didn't owe, and have disputed for a number of times. One credit bureau file shows a drop off date of November, 2012. Other two accounts shows its 7th year to be in 2014. So, that means that one account is reporting it to be about 7 years old and the other is reporting it to be about 5 years.

I recently disputed the age with equifax and transunion and they claim that the creditor has validated it to be only 5 years old.

The account shows closed and in collection with the original creditor. The creditor has refused to delete it even if I pay it off.

What should I do at this point?

1. Does it even make sense to pay it off?
2. How would it affect my credit score, if I pay it off?

3. How do I handle the fact that one bureau shows expiration date of 2012 and the other two bureaus shows dates of 2014?

Thanks for taking my questions.

---

Is this a medical bill?

Paying a debt you don't owe will make it seem is if you do owe it.. They will come back with "if you didn't owe the debt, then why did you pay it?" so, you'll want to fight the fight.. Even if you paid it off your credit would still reflect it as a charge off or derogatory account.. So, save yourself the 100 dollars and write the bureaus again explaining the situation in full...

Of course, more information on the charge itself will be helpful

[Anonymous]

I'm a bit confused.

You don't owe this creditor $100, but they refuse to delete it?

[Anonymous]

Its a bit of a long story. I used to do business with them. So, I guess the biggest mistake I made was using my ssn. The bottom line is, I do not believe I owe the dept, but I guess they are convincing experian, transunion, and equifax that the dept is valid. I have disputed this dept at least 5 times in total. I even offered to pay the debt if they could delete it, the answer was "no."

Secondly, I recently noticed that one of the bureaus is reported the dept to be 7 years this year and the other two bureaus is reporting it to be 7 years in 2 years.

So, I was wondering, if paying the debt will actually bring my scores down further. And, secondly, how do I handle the fact that there are different expiry dates being reported. This is not a medical bill.

[Anonymous]

at this point really, I'm ready and willing to pay it if they will delete the stuff, but they are unwilling to work with me. I don't really care if it will look like I owe it if they can actually delete it. Its not a medical bill. I'm learning how much powerless I am as a consumer.

[2NE1]

who did you speak with in regards to getting it deleted off your CR? who's the CA/OC? was it a CSR that refuses to remove it or did you have a talk with the supervisor and explained it's inaccuracy?

1. it doesn't make sense to pay it off if it's not your debt! you gotta fight it! but why do you 'not believe' you owe this debt?

2. Paying it off won't improve your score cause it's still a baddie/derog whether it's paid or unpaid. But if this is the only baddie you have on your CR then getting it removed will definitely boost your score!

3. When's the DOFD? it should be 7-7.5 years from that date to fall off your CR.

Also, if you really just don't want to pay it cause they won't accept PFD since you're convinced you don't owe the debt then you're gonna have to let it fall off on its own.

[Anonymous]

+1 to 2NE1's comments.

I was in a similar situation recently, with an old debt that I technically owed, but it was bogus - a verbal contract that I couldn't go to court and dispute because it's past SOL. So I'm letting that one fall off. Another small debt, I offered PFD and they declined. It was valid, and I paid it. A few months later I sent a GW letter and it was gone in a week. Go figure!

[Anonymous]

how old was the debt when you paid it? Did you score take a nose dive after you paid it, but before you sent the GW? I can afford to let it fall off, but I'm thinking about purchasing some property and I'm being hit with high interest rate.

[Anonymous]

I actually spoke with the owner of the company over the phone and he called me back and he was no different from his employees from behavior and rudeness point of view. Its like he pretty much repeated all the lies his employees had told him. As far as why I don't believe I owe it, its a long story and I'm not sure who is reading this blog, plus it doesn't really matter since I can pay it and move on with my life.

2. Yes, this is absolutely the only thing that I have on my record.

3. One agency says this year is the 7th year. The other two agencies, says 2014 is the year.

[tammyjk]

Have you ever ask for this company to validate the debt?  I think that would be my first move with this.  Send a validation letter and send it registered.  That will probably get their attention.  Once you have that in hand, if it reflects the 7 year...send it on to the credit reporting agencies.