Last year a collection account finally went off all my credit reports. Now, since I had to make payment arrangements with the CRA about some medical bills(that didn't go to collection, thank goodness), they are bringing up this old debt. If I were to pay on it or to pay if off (which they are offering a 30% discount for this month to pay it in full) would they be likely to report it back to the credit bureaus? And what is the truth about the time a collection account can stay on your credit report? Is it from the date of last activity? I heard that if I paid it off whatever that date was, it would remain on the credit report for seven more years. So right now I not very inclined to pay on it or to pay it off, since it is already off my credit reports. Thank you for your time.
If your collection account finally went off all your credit reports last year, would that be because of the 7 year clock and they automatically fell off, or that you disputed and got them removed? If the account went off your CR because of the 7 year clock, then DEFINITLY DO NOT pay or agree to pay them anything. The SOL has expired, the debt can not be collected forceablly through a judgement, and any actions taken on paying the collection would most likely result in the account finding it's way back onto your credit report. Don't even reply to their letters, don't acknowledge that it's your debt, and don't pay them a dime for fear that they can "restart" the 7 year clock. With it no longer on your credit report, they don't really have any leverage to use to get you to pay. If you got it taken off through a dispute, I'm not sure, but I don't believe that they can put it back on. The CRA was asked to verify a disputed item, they did their investigation, and I believe that disputed items stay somewhere in the CRA's computer system after they're deleted because of a dispute. The FCRA states that the CRA must notify you in writing if anything that they deleted is added back on, and give reasons for that. Some times, the validation that the debt is in fact yours comes back to the CRA after the month, the item was removed, then sometimes gets added back. Keep several copies of your CR, older ones (if you have them) showing the disputed item on it, and then more recent ones that show the disputed item removed. That way you're covering your backside if they try and add it back on again without notifying you. Happy I could be of assistance.
chrisb, Thank you for your assistance. It is because of the 7 year rule, which I am learning about by reading this forum. It was a hospital debt from 1993. Because I had to make arrangements to pay off some other medical bills because of the crazy way a billing company for physicians applies payments, they started looking back into my old account. I did accidentally pay off small bill again which was already paid off two years ago (because sometimes due to chronic illness I just don't think straight). So they applied the payment in full to the new medical bills, including payment onto the that old debt..about $3.00. I didn't say anything about that debt. I just wanted to make sure the others bills were paid off when I called them to find out how the money was applied when I realized I goofed. I hope this doesn't start it being reported to the credit bureau. Again thank you for your help. samitra
Depending on how large the debt is and what the sol is for written contracts in your state, I would determine the best course of action from that information.My state has a 15 year sol on written contracts and it varies form state to state. godaddyo
Chrisb, <<If your collection account finally went off all your credit reports last year, would that be because of the 7 year clock and they automatically fell off. If the account went off your CR because of the 7 year clock, then DEFINITLY DO NOT pay or agree to pay them anything. The SOL has expired, the debt can not be collected forceablly through a judgement, and any actions taken on paying the collection would most likely result in the account finding it's way back onto your credit report. Don't even reply to their letters, don't acknowledge that it's your debt, and don't pay them a dime for fear that they can "restart" the 7 year clock. With it no longer on your credit report, they don't really have any leverage to use to get you to pay. >> Like I stated earlier it is from a medical debt in 1993 which fell off. However, the collection agency doesn't just send letters, they keep calling. I tell them I do not know anything about this account. Should I tell or better yet write them I intend not to pay on this account because it is not mine, just straight out. Or should I say nothing at all and tell them to stop calling or harassing me about it. That is why they are calling to find out what I intend to do with the last account. Thank you in advance for your advice. samitra
