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disney
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I spoke with the collection agency that has my old phone bill account and I found out that it was charged off on 8/26/98 and it was given to the collection agency on 2/18/03. They sent me a settlement letter this month and I called them to see how this would report to my credit since it is not currently on my credit. The person that I spoke with said that they would not be reporting it to my credit. Could this possibly be because it is to late? Since the bill was charded off on 8/26/98 can this still come back and post to my credit report. I am new at this credit repair thing and I want to make sure that I am making the best decision. I guess my question is do I pay the bill or not? Is the seven years based on the charge off date of 8/26/98 or the CA date of 2/18/03? I am going to call them again tomorrow to make sure that I have the information correct.

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All communication with a CA should be done in writing.

Believe it or not, not all CA's report to the CRA's - not only do you have to be a paying subscriber to the CRA's to report, but some must not feel the need to report all collection activity.

You have to balance how much the collection is for against what it's going to take to fight it. If a few $ will get rid of the problem, that would be the route to go. While the debt may be beyond SOL, you have to consider the utility company continuing collection activity. Is it worth the hassle to have it go to another CA that will report?

Get their statement in writing regarding them not reporting to the CRA's before making payment.

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My phone bill is $998 and they offered my a settlement of $496. If I understand this correctly if I decide to not pay the bill the collection agency can still report this to my credit or possibly sell it to another CA that may report it. When is to to late for something to be reported to your credit? Also this may sound like a silly question but when something is charged off on 8/26/98 when should it drop off my credit?

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Is it outside your state's SOL? If so, offer them 250 and a promise they will not report. Send them this offer as follows:

"Per my conversation with -------- of your firm, I offer you $250 to settle this account. In consideration of this payment, you represent and agree the account is fully satisified and neither you nor your client will report this account at all to the major credit reporting agencies.

I dispute and deny this account, and contend it is outside teh statute of limitations, I but make this offer in the spirit of compromise and good will in reliance on your representations. It may not be construed as an admission or acknowledgment of anything and may not be used as evidence in any action.

If you agree, and have authority to bind your client, please sign the bottom of this letter ( copy included for your records) and return it to me in the SASE included. If you or your client cannot agree to the amount and/or the conditions, please let me know in writing. Please respond within 30 days. "

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Yes it is outside the SOL. I live in the state of Texas. I called them and told them that I would pay the settlement amount but they said that they would have to report it is settlement paid. It seems to me that I will be better off not paying the bill at all. This was charged off in 8/98 and they are under the impression that it has posted to my credit. All of my reports were checked when I refinanced my home and it never appeared.

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Send them something like this:

Certified Mail ---------------------

RE:

Dear SoandSo

I DISPUTE the above referenced item and ask you to investigate and validate the item to me.

In connection with this, per 15 USC 1692c, I ask you to CEASE and DESIST all telephone calls to my home or work phone. I do not consent to receiving phone calls from you. Please communicate in writing to me at the above address.

This letter invokes my rights under the state and federal FCRA and FDCPA. Thank you for your attention to this.

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I now have an update. I checked my credit via mycreditkeeper.com and I noticed that the CA that has my telephone account checked my credit on 10/13/04. There inquiry was posted on Transunion and now I am afraid that they may have noticed that they are not on my credit report. I have a deadline of 10/29/04 to pay the settled $496 amount. What should I do? Should I wait and see if they post anything or go ahead a pay the bill. I checked all of my accounts and so far it has not been reported. Please help

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I must throw my penny's worth in on this one.

One thing that was not discussed is that the phone company may not have legal recourse, BUT, they do have the right to refuse service indefinitely. In short, no pay, no service until paid. I always agree with the others as they are all outstanding, but, this time I do and I don't. Here's why:

If you decide to not pay in hopes the debt will not be reported, what I said above will apply. Plus, who is to say the current CA won't return the debt to the phone company who assigns to another CA who automatically reports the debt, or sells to a JDB. Your plan failed. Remember, the debt can legally be reported as a collection until at least 8/26/05.

Therefore, for the above reasons, I would counter their offer by agreeing to pay their offer, include the verbiage that you are aware they have no legal recourse to the debt, cite the correct law, and that if they do not accept your offer, you will sever all contact. Of course, you will state that they will not report anything to the CRA's. They should respond in a positive way. If, by chance, they came back saying they have to report because the law says so, you will automatically inform them they are full of you know what. The law says that IF they report, it must be accurate, not they must report. Also, if it came to that, you would inlcude in your response an offer of a lesser amount to get their attention.

Think about it before you decide.

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Wow!!!! You all have given me a lot to think about. I may call them to see if they can extend the 10/29 deadline while I am still thinking. Part of me wants to pay the $496 because I actually have it now and I am not guarenteed to have it later. I am going to try a copy of a letter that I can send them about not reporting it to the CA.

You all are awesome and I have learned a lot from reading this website.

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