OK, so here it goes, in college i messed up with credit cards, and racked up some debt. i have been paying it off, slowly to get my credit score back up and not have any debt. so today i paid off a debt to Asset Acceptance LLC who bought my debt from Citibank. The account was charged off some 4-5 yrs ago, and they have been trying to collect on it since. the balance they wanted from me was $6400, but i settled for $ 2888, and i paid them. for some reason i feel like i didnt have to pay them. well becasue for one, i dont owe THEM any money, i didnt borrow from them or anything, also now that i just paid it off, they said they will put a Paid in Full statement on my credit report (they absolutely refused to take it off my credit report). i tried validating the debt, and the guy just read off a whole bunch of my information that he had, so i guess he validated it to me? if i didnt do the right thing, i think i can put a stop payment on my check if needed lol so did i do the right thing? did i have to pay them? will it stay on my credit report for 10 yrs from now? how can i fix this? wat should i do now oh ya, im finally out of debt (except my student loans) :-D
You probably can't do anything now. As far as owing the money, they bought the debt, so you do owe them the money. It might have been past the statute of limitations for collecting in your state, but by now you may well have reset the SOL by promising to pay. It should stay on your credit reports for seven years from the time you went delinquent, so you only have a few years left. You should have requested validation in writing, and ask when the debt was from. But at least you can feel like you did the right thing. Build your credit by using it responsibly and showing you can pay if off. Wait a month or so and pull your report and see how it shows. Good luck!
