Removed from report but still attempting to collect?

[Anonymous]

I had a collection of $422 from Portfolio Recovery that has very recently disappeared from my credit reports. Original creditor was Capital One. It was a secured card that I defaulted on. I am pretty sure it aged out but then today I got a notice to collect from Portfolio Recovery with payment options. I still owe the debt technically but my score was definitely helped by it dropping off. I’m afraid of them putting it back on my report. Will they continue to try to collect even after it ages off?

[simplegirl]

If it fell off meaning it’s past 7 years old they cannot re-report it but they can collect on it as long as the debt is still owed.

[Brian_Earl_Spilner]

They have every right to attempt to collect until the day you die. Then they try going after your family. They could also sell it to someone and they can try.

[sarge12]

---

@Anonymous wrote:
I had a collection of $422 from Portfolio Recovery that has very recently disappeared from my credit reports. Original creditor was Capital One. It was a secured card that I defaulted on. I am pretty sure it aged out but then today I got a notice to collect from Portfolio Recovery with payment options. I still owe the debt technically but my score was definitely helped by it dropping off. I’m afraid of them putting it back on my report. Will they continue to try to collect even after it ages off?

---

They have no legal recourse to compel you to pay it, but they can ask. They likely paid around a penny on the 100 dollars to buy the debt, but they cannot put it back on the credit report. Block their calls and toss the mailings from them if you wish. Their collection attempts are basically a hail mary, but with an even a lower chance of success. By the way, if you paid it, Capital One would not receive a penny of the debt repayment. These collection agencies are bottom feeders, but once they see that the letter does not bear fruit, they will likely stop collection efforts due to the expense of their efforts. Stamps and phone calls are not without cost. That debt has likely been sold several times as a block of debts. The older the debt, the lower the selling price. This CA probably bought a million dollars of debt for a hundred bucks, and if even 1000 bucks is recovered they make a profit. Debt that old can be bought very cheaply.

[sarge12]

---

@Anonymous wrote:
I had a collection of $422 from Portfolio Recovery that has very recently disappeared from my credit reports. Original creditor was Capital One. It was a secured card that I defaulted on. I am pretty sure it aged out but then today I got a notice to collect from Portfolio Recovery with payment options. I still owe the debt technically but my score was definitely helped by it dropping off. I’m afraid of them putting it back on my report. Will they continue to try to collect even after it ages off?

---

One question...how did you default on the secured debt without them taking the money used to secure the debt? Am I missing something? I thought the credit limit on secured debt was equal to the cards limit, and would be taken if you default.

[simplegirl]

I defaulted on a Secured Wells Fargo card and with late fees etc. it bought me over the 800 limit to 892 meaning I still owed $92.

[Anonymous]

Thanks everyone!

[Remedios]

It's an old debt and because it's no longer reportable, you should try settling it for the lowest amount possible and be done with it once and for all 

[Anonymous]

If you are absolutely certain the statute of limitations has passed, you can send them a letter to cease communication with you under the Fair Debt Collection Practices Act, if receiving the collection letters is bothering you. It may be worth it to get your annual credit report and verify dates, so you know for sure they are outside of the reportable window (and look online to verify the statute of limitations for your state).

[Queen_Etherea]

I have a collection agency trying to collect from a credit card that I had over 15 years ago! I got a letter in the mail a few months ago with payment options. I laughed and threw it in the trash. 

Does the letter state something like they cannot report the collection? My letter had that language at the bottom and said that they couldn't sue or report it anymore.