Outside of SOL, nothing on cred report, received collection letter ... advice needed

[iamme]

What is the name of your state? GA

Back in 1998, I was the stereotypical dumb college kid. I got a couple of credit cards, spent money I didn't have, then couldn't make the payments. Total of debts wasn't more than $2K. In 1999, all of these accounts were charged off. Since then, I received a few collection letters and phone calls, but nothing major. Last year, I pulled my credit report and to my suprise found that all of these debts had been dropped from my record. There was no record of the original charge-offs nor the debt collectors.

Fast forward to today. I received a letter from RJM Acquisitions, my "new" creditor. They're wanting to me settle an account. I pulled my credit report, just to see what was going on. Still no record of the past charged off accounts nor debt collectors, including RJM. Honestly, I can now afford to settle the account and am "thisclose" to just calling the number and taking care of it. But, I am hesitant as to the impact this action will have on my credit report. Will this newly paid account show up on my credit report? Any way to bargain a "my money for your silence" kind of deal where they don't report the account to the credit agencies at all?

I have an appointment with a lawyer next week. I'm just looking to get a feel for my options as of right now so I'm not going into the meeting blind ...

Thanks

[debtcollector`]

They can't put it on your credit report now. It is too old.

DC

[JETX]

Originally Posted by iamme

I received a letter from RJM Acquisitions, my "new" creditor. They're wanting to me settle an account. I pulled my credit report, just to see what was going on. Still no record of the past charged off accounts nor debt collectors, including RJM. Honestly, I can now afford to settle the account and am "thisclose" to just calling the number and taking care of it.

If it is truly 'out of SOL'... don't pay it. Doing so would reset the 'SOL clock' and COULD make you liable for all kinds of interest, costs etc.
Simply send them a 'cease and desist' letter. A good example can be found at: [url]www.creditinfocenter.com/forms[/url]

Send it certified RRR.

These bottom-feeding, scum-sucking 'expired debt buyers' feed off of people like you... who are ignorant of the credit laws and pay that 'dead debt' on a false 'scare letter'.

[Zigner]

Originally Posted by JETX

These bottom-feeding, scum-sucking 'expired debt buyers' feed off of people like you... who are ignorant of the credit laws and pay that 'dead debt' on a false 'scare letter'.

Interesting...because I see the person who didn't pay their bills in the first place as "bottom-feeding, scum-sucking". I really bothers me that some people have the attitude that, just because a debt is old, they don't owe it. Now, it is true that laws have been enacted to prevent COLLECTION and REPORTING of said debt, but it is still a debt owed.

[debt tired]

I agree with JETX. SOL for GA is 4 years on an open account. A credit card is considered an open account. Read the GA Codes.

§ 9-3-25. Open accounts; breach of certain contracts; implied promise; exception
--------------------------------------------------------------------------------

All actions upon open account, or for the breach of any contract not under the hand of the party sought to be charged, or upon any implied promise or undertaking shall be brought within four years after the right of action accrues. However, this Code section shall not apply to actions for the breach of contracts for the sale of goods under Article 2 of Title 11.

Send the C&D letter.

[ChrisN_1]

What is the name of your State: CA

I received one from them today, for a DirecTV account from 1997. The problem I have is that I never heard anything until now, nothing on my Credit Report all these years. I believe in my State the SOL is 2 or 4 years, either way, it's past it. I have no plans of paying it since I am not sure if I even owe anything. I had DirecTV at one time, but disconnected it when I moved and am pretty positive I paid it off in full when I disconnected it.
Here is the problem - I am afraid if I call them to see what it's about, I will start the time cycles. I hate not to call, but considering the amount of time that has passed I can't be sure it's not a scam. The IRS doesn't require me to keep tax documents for 10 years, why would I keep a copy of every bill or receipt for 10 years.

I have decided not to even contact them due to the age of it. They are bottom feeders to wait this long. I would have rather found out about this years ago when I could have researched what was or was not paid, now I am in a bad position due to the length of time it's been.

[debtcollector`]

Originally Posted by ChrisN_1

What is the name of your State: CA

I received one from them today, for a DirecTV account from 1997. The problem I have is that I never heard anything until now, nothing on my Credit Report all these years. I believe in my State the SOL is 2 or 4 years, either way, it's past it. I have no plans of paying it since I am not sure if I even owe anything. I had DirecTV at one time, but disconnected it when I moved and am pretty positive I paid it off in full when I disconnected it.
Here is the problem - I am afraid if I call them to see what it's about, I will start the time cycles. I hate not to call, but considering the amount of time that has passed I can't be sure it's not a scam. The IRS doesn't require me to keep tax documents for 10 years, why would I keep a copy of every bill or receipt for 10 years.

I have decided not to even contact them due to the age of it. They are bottom feeders to wait this long. I would have rather found out about this years ago when I could have researched what was or was not paid, now I am in a bad position due to the length of time it's been.

You need to start your own thread.