I have a few old debts on my CR that I want to pay off and get rid of. Haven't heard from these folks in years. Should I contact them and tell them I wan't to make payments now or will that be opening up a can of worms? I would just rather get it paid off because I hear that even if it falls off your CR they can try again years later and put it back on. I want to be done with them forever so I was thinking of calling them and offering them monthly payments that "I" can afford. Not what they have or will demand. If they refuse my payments(probably because they will be too small)when I talk to them on the phone, should I send it to them anyway? Hopefully when these are paid off and I apply for a home loan the lender will see that I've paid them off and give me a break. Also if I start paying an amount they did not agreed upon can they still sue while I'm paying on them. (For example: if they wan't me to pay $100/month but I only pay them $30/month can they still sue me?)
They can't put it back on later (legally, that is). It can only be reported for seven years from the date of delinquency. How old are they? They may be past the statute of limitations (SOL). If they are and you are sued, you must go to court and assert the affirmative defense that they are out of SOL. The first thing you need to do is get copies of your reports from each of the bureaus. Don't get the trimerge that you get from places like truecredit. While those type of services are good for monitoring, they are not good for seeing exactly how each bureau reports everything. After you get your reports, let us know how each bureau reports each account (make sure you remove personal information first before you post anything). We also need to know what state you live in to determine the SOL. But don't contact them and DON'T PAY anyone anything yet. It is probably with a collection agency, and you shouldn't pay them anything until they prove the debt is yours, the amount is correct, and that they are legally entitled to collect. It may be that you haven't heard anything from them because they no longer own the debt. But if you offer to pay them, they'll probably take your money and run. Later you might hear from another collector who now owns the debt and wants you to pay. So don't be too anxious yet.
I will gather info I have all three reports from me and my husband. I will get this info and post. I would like to hear your suggestions. You brought up a good point I didn't think of. If they don't own it they may still say they do and take the money and run. I will post again soon. Thanks
