OLD COLLECTION--PLEASE HELP!!

[Anonymous]

I have an old Discover account that went into collection back in 99'. The account was charged off and sent to someone else. Sad to say, I never paid the account because I was very young and did not know half of what I know about credit cards now. These accounts are no longer on my credit report. I received a letter today saying that I could settle the account for 10% of the original price. I called the number on the letter because I did not even remember having the account. My question is, can they post this on my credit report now that another company holds the account? I'm afraid to do anything before knowing how this could affect my report. I know if I pay it will post as paid and I don't really want that there either because someone will see that I am just now paying an account from 1999. What will happen if I do not pay?

[llecs]

No, they can't legally put it on your reports if Discover was CO'd in 1999. If you are 100% certain that this CA is collecting for Discover, then IMO, I'd DV them. And no matter the response, then I'd tell them to take a long walk off a short pier. However, make sure you are past SOL.

Now, if you want to pay, then that is different. But after 9 yrs, Discover likely doesn't own it and I wouldn't recommend paying the CA.

Message Edited by llecs on 08-01-2008 03:32 PM

[Anonymous]

Thanks! Does anyone know what the statue of limitations are in Alabama or where I can find them?

[llecs]

http://www.bankrate.com/brm/news/cc/20040116b2.asp