Hi All. I've been searching but haven't quite found answers. So maybe someone out there would be willing to assist me. I have 2 accounts in collections, with small enough balances that I could pay. Should I pay them then dispute w/ CRA as not mine? Should I pay, then send validation letters? Also, I have 2 collection accounts with balances that are around $650 each. One is 4 years old the other 5 years old. I cannot afford to pay these accounts at one time due to the fact I have others bills. I am in MI and the SOL is 6 years. Can a CA sue me? Should I wait for the SOL or dispute with CRA? If I dispute with CRA and it comes back verified should I then contact them and offer settlement for deletion, although the SOL hasn't expired? Thanks all in advance for your help and advice.
I have 2 accounts in collections, with small enough balances that I could pay. Should I pay them then dispute w/ CRA as not mine? Should I pay, then send validation letters? Others have had success with negotiating a payment in exchange for deletion, I have not. Paying and then disputing at some point in the future has worked for me, so I can recommend that approach. Keep in mind that this works better the older the account and the smaller the amount. One is 4 years old the other 5 years old. I cannot afford to pay these accounts at one time due to the fact I have others bills. I am in MI and the SOL is 6 years. Can a CA sue me? Should I wait for the SOL or dispute with CRA? I don't know if you are working under an emergency or not. (buying a house etc) But if you can't afford to pay and you think you owe , it might be better to let the SOL run. Often, when you go to validate, it gives the CA a new incentive to turn up the heat. For example, it confirms that they have the proper address etc and that you now care about your credit standing. So a lawsuit is the possible outcome of your validation efforts. My humble opinion is that you let these sleeping dogs lie until the SOL has run or you are in a cash position to settle.
