Settlement in Full Offer Paid, now 5 years later, I get a collections letter!

[kp11478]

In 1999, when X.com (now Paypal) came out, I got a credit card with them, as did half of the world because they gave one to everyone. I was 20 years old and stupid with my money. I overcharged myself and couldn't pay my bills. I lived in Virginia at the time.

So, the debt kept rising with late fees, etc until it reached $706.66 in November 2001. I was deployed overseas with the military at the time and my husband received a settlement in full offer for the account from LTD Financial Services in Houston, TX. The amount we were required to pay was $353.33. My husband paid the debt and within the alloted timeframe. I haven't heard anything else about this, I even had it removed from my credit report at one tim, since it was listed twice.

Now, in 2007, I received a letter that states that a company out of Norfolk, VA has purchased this debt and that I owe $353.33, the other half of what was supposed to be a settlement in full offer. So, I called the credit agency in TX. I still have the letter. They, of course, were not in, so I left a message.

Today, I got a voicemail from them stating that the settlement was received two days after the expiration date. I just think this is crap.

What can I do? Is it going to remain on my credit report for longer since I contacted these slimeballs?

HELP!

[gcmoore]

In 1999, when X.com (now Paypal) came out, I got a credit card with them, as did half of the world because they gave one to everyone. I was 20 years old and stupid with my money. I overcharged myself and couldn't pay my bills. I lived in Virginia at the time.

So, the debt kept rising with late fees, etc until it reached $706.66 in November 2001. I was deployed overseas with the military at the time and my husband received a settlement in full offer for the account from LTD Financial Services in Houston, TX. The amount we were required to pay was $353.33. My husband paid the debt and within the alloted timeframe. I haven't heard anything else about this, I even had it removed from my credit report at one tim, since it was listed twice.

Now, in 2007, I received a letter that states that a company out of Norfolk, VA has purchased this debt and that I owe $353.33, the other half of what was supposed to be a settlement in full offer. So, I called the credit agency in TX. I still have the letter. They, of course, were not in, so I left a message.

Today, I got a voicemail from them stating that the settlement was received two days after the expiration date. I just think this is crap.

What can I do? Is it going to remain on my credit report for longer since I contacted these slimeballs?

HELP!

Do you have proof that the payment was made on time? Cancelled check, money order, certified letter? If so, I'd fax that to the CRA and to them, and be done with it. If it turns out the payment was late, and they can sue for the remainder, thank goodness they haven't added interest all this time. Hopefully someone will have a definite answer for you.

[chilton1]

I think the debt has passed the SOL.

I would check to make sure it is pass SOL (4 years statue for george and the 3 years for Virginia), and then I would send them a cease and desist letter and include proof, if I have it, that the debt was settled 5 years ago.

[kp11478]

I also thought the SOL had passed. I'm a bit confused as to when something "starts over" though. Does it begin again because I contacted them?

[chilton1]

No, I should not start again because you contacted them. Is the debt listed on your credit report? Does it list a date of last activity? If the date of last activity is in 2000 it should be removed from your credit report this year.

[IHateCAs]

What does your 2001 settlement letter say exactly?

[DucknCover]

Norfolk?.... sounds like Portfolio Recovery. If it has been more than 4 years since you paid the settlement it's beyond SOL. If you have a letter stating the payment made was accepted as settlement in full, then you lived up to your end of the bargain. I would send a letter informing them of such and tell them to take a hike. Also keep an eye on your credit reports. If this is PR... they will undoubtedly post a new and current trade line as a factoring company and cause your scores to take a nose dive. You'll have to do battle with them and the CRA's to get if removed.

[kp11478]

This crap finally came off my report but these jerks had the nerve to leave a message on my voicemail last week because I updated my credit reports with my phone numbers. I'm just NOT GOING TO RESPOND. This is total BS