chrisdab

Old debt from utility (close to 7 years), what steps should I take?

2 posts in this topic

I have a debt on 3 CRAs of $1747, with a date of first delinquency of Feb 28,2011.  What should I do in regards to that debt? I can settle the debt, contest as zombie debt, or wait until it falls off report.

 

These are the options I think I have.

If I settle the debt, I have leverage since the debt will fall away soon, so I can get favorable payoff amount and get it deleted.

If I contest as zombie debt, I should be able to remove from CRAs as well.

If I wait I can get it removed either after 7 years or 7.5 years of first delinquency.  

 

What advice is there regarding this debt?

 

Date Reported: May 07, 2017

Original Creditor Name THE CBE GROUP INC

Balance Date May 07, 2017

Date Assigned Feb 28, 2014

Account Designator Code INDIVIDUAL_ACCOUNT

Original Amount Owed $1,747

Amount $1,747 

Creditor Classification Utilities

Status Date May 07, 2017

Last Payment Date

Status UNPAID

Date of First Delinquency Feb 28, 2011

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4 hours ago, chrisdab said:

If I contest as zombie debt, I should be able to remove from CRAs as well.

It isn't zombie debt.  They can report the debt for 7 years so it can legally remain on the report until February 2018.  Zombie debt is debt that is REALLY old and not only beyond the SOL for suit but for reporting as well.  

The problem you have with this is that it is a utility account.  Even if it drops off your report(s) now if you ever need services from that utility again they can refuse to connect it until you pay it.  

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