An old telephone company account from 12/96 just appeared on my EXP report, listed as a collection account. It's only for $100., and it's due to fall off in December this year. I sent a validation letter CRRR to the CA. I also called the CA - without admitting that I'm responsible for the bill - to offer payment in full for deletion, just to make this one go away. This a**hole tells me that he can't change what is already reporting, and that he would change the notation to "paid in full". I told him that paying at this point is almost as bad as not paying, since it's a collection account. I also told him that he CAN change things with a UDF. Any suggestions on how to deal with this? If I do pay, does the CA record stay with me for another 7 years? This one is only reporting to EXP, and hasn't cost me many points, due to the age of the account. Of course, I can just ignore the CA and wait for the account to fall off my report later this year, but I want to do the right thing. Thanks in advance for your help!
paying is not supposed to re-age.. the 7 year period starts from when it first went into the deliq that led to the collection lus 180 days. FCRA section 605(c) Point out to them that the SOL is almost up and that if they dont work with you that come december they'll end up w/ no money AND you'll have a clean report. These guys probably make their living buying these old debts, that are on the verge of being uncollectable, for pennies on the dollar and then hope to get some unsuspecting person to pay.
I say let the silly thing drop off. It isn't worth $100 to bump a few points on a derog that will be falling off in 9 months. Just make sure to keep all your copies of your credit report, just in case this is one of those skumbag collection agencies that try to re-age things. ChrisB
