Please help me - What should do? Old debt collection

[CreditForDummies]

Dear all,

I received a letter to collect an old debt from 2002. I called the agency to learn more, and they automatically put the status to "In Dispute" and gave me 2 weeks to send them a dispute letter.

It seems I have four options:

1 - Pay the full balance of $1,000

2 - Pay the settled balance of $450 (they could lower it to $370)

3 - Go ahead and send them the Dispute letter

4 - Do nothing

Now my credit report is in very good standing and I don't want to risk it. Please help me - what should I do?

Thank you!

[deputyLT]

Do nothing.

They cannot report it in anyway to the 3 credit bureaus UNLESS you interact with them and pay them any amount. Statute of limitations is well passed no matter what state you are in.

Do not speak to them or correspond with them any further.

[CreditForDummies]

Thank you deputyLT.

I told them over the phone that the credit card may have been cloned, and that I left the country for some years. Then, the lady changed my words and said, "So you left the country without paying the debt."

I am wondering if I should worry about this, or if they could use it against me somehow. I will definitely follow your advice and stop any communication with them. Thank you so much.

[guiness56]

---

@CreditForDummies wrote:

Dear all,

I received a letter to collect an old debt from 2002. I called the agency to learn more, and they automatically put the status to "In Dispute" and gave me 2 weeks to send them a dispute letter.

It seems I have four options:

1 - Pay the full balance of $1,000

2 - Pay the settled balance of $450 (they could lower it to $370)

3 - Go ahead and send them the Dispute letter

4 - Do nothing

Now my credit report is in very good standing and I don't want to risk it. Please help me - what should I do?

Thank you!

---

Whether or not it can be put on your credit report depends on when it defaulted.  If that was 2002, it cannot be put on your credit report.

Even if you call, mail, fax or email, they cannot put it on your CR.  The CRTP has long gone.

The only thing that could possibly happen if it is in fact a debt that defaulted in 2002, is restart the suing SOL by making a payment.

Is the debt yours?  You can send them a DV letter and ask for the name and address of the original creditor and an itemization of the debt.  If they validate you could then make a decision on how to handle it.

Unpaid debt does not go away.  They can continue to attempt to collect forever.

[CreditForDummies]

Thank you so much for your clarification and giving me some peace of mind, thank you.