I received a leter from a collection agency today about an account that I had with Citibank Visa. I had this account almost 20 years ago. In short it says that "our office has been retained by the above named client (citibank) to collect on an overdue account." I know when I couldn't pay the bill any longer it was about $1,600.00. Now it says that I owe over $10,000.00. Can a collection company try to collect this money? It's taken along time for me to get my credit in good standing, my scores are very high and I would like for them to stay that way. Can someone tell me what I can do about this collection agaecy (Asset Management Services) Also, will this go on my credit report?
