I received a letter from a collection agency trying to collect on an account that I had with Citibank 20 years ago. The letter stated that I had 30 days to contact them to let them know about this debt. When I had this account I owed them around $1600.00 now it says that I owe well over $10,000.00. Back then things were really bad for me and I could no longer pay them or anyone else, it had gotten to the point that I was barely able to keep a roof over my head. What I want to know is can this debt be put on my credit report? I now have very good credit and my scores are very high. I'm so afraid that this is going to ruin my credit. I don't know weather I should contact this collection agency or not. My daughter has a phone in my name(which is listed in the phone book, mine's isn't). They leave messages saying that it would be to my advantage to call thm about this account. I noticed on the letter that in the place of a account number they have my SS#. Can they really collect on an account this old?
Heh. First off, it can only be reported for 7 years. Secondly, it is so past the SOL it is not even funny. They cannot legally collect on it and if they are dumb enough to take you to court then you present the SOL as your defense and the judge would probably fine them for being complete idiots. Do not talk to them over the phone and do not offer anything. Fax or send certified a letter stating the debt is x amount of years past the SOL in your state and they are wasting their time. Also, include a cease and desist paragraph in your letter. These people probably bought the debt for $1 and are hoping you are dumb enough or not aware of the consumer laws and will settle. Do not even ask about a settlement because if they tape it they could say you are orally offering to pay the debt and that the SOL would start again.
I'm no expert here (not even close) but I bet if you checked the Statue of Limitations in your state you would see that they can't continue to bother you about this debt or report it on your credit. If they do you can probably go after them.
hahaha Good God..., 20 YEARS AGO.... how laughable... I am just a newbie but I think with the SOL alone would make you safe from this ridicolous debt.... Good grief!!!!
send a validation letter to them. They can really do nothing except violate your rights and then you can get paid for your trouble... they can sue you and you can assert the sol as an affirmative defense... but if they sue you on a debt they know to be stale it looks really bad... but do stay on top of this... they all think we're stupid. they think they can intimidate you into paying. Do NOT ever talk with them on the phone... because then they might try to say you affirmed the debt and agreed to pay... just send the letter certified return receipt.... if they send you nothing.... send them the 2nd validation letter and then wait... or if they add it to your reports... get into your reports... or try to collect without validating the debt.. you can sue them Relax... there is literally nothing they can do to you that won't likely violate your rights and put you in a position of power... I dream of these situations now... oh... if I knew then what I know now...
