just got a collection notice for a forgotten debt not on CR, how to keep it off?

[kailix]

So I got a letter from CBCS for a debt I'd totally forgotten about from Verizon. **I am fine with paying the debt, what I don't want is it appearing on my credit report** The debt is almost out of SOL, I am not sure exactly when the clock starts, but I left Mass in June of 2002, and I believe the Verizon debt existed for some time before then. So it might be SOL already.

They sent me a letter offering to settle for a certain amount. The debt currently does not appear on my credit report at all. If I send a check paying it off, will it appear on my credit report? I'm trying to buy a house in 6 months, so I really, really don't want a "settled" account appearing on there now.

What is my best course of action to keep this off my credit report? Pay it or send a C&D? or something else?

thanks in advance for any advice!

[sgip2000]

Try to find out when the last payment was made. If it's not appearing on your CR's, it may indeed be past SOL and reporting period. If it IS past SOL, send a C&D, if not, try to negotiate a payment in lue of reporting.

[kevin3344]

They sent me a letter offering to settle for a certain amount.

If this is not showing on your CR it's possible the reporting time has expired as well...especially since the 7 year reporting period starts with the date of 1st delinquency with the OC. I would DV here. If they produce original docs (a bill) then I would just go ahead and pay it. However, if this went delinquent before 02 and it's now 08, it's at least 6 years old. So it's possible they can't report it.

[kailix]

Questions:

Will DVing reset the SOL?

What happens if I C&D and it isn't out of SOL?

Any ideas on how I could find out the date of 1st delinquency without reseting the SOL?

I'm so nervous every day that I'll get a notice from scorewatch saying a new negative unpaid item has been placed on my CR... which will be terrible as I really want to buy a house in July!

[Amerikaner83]

Answers:

1- NO it will NOT

2 - Then they can sue you if they wish - I nver C&D until I'm SURE it's outside of SOL - and I let them know that I now i'ts time barred.

3 - Call up the OC (Verizon)...

[kailix]

thank you very much.

I am going to DV, and also try to contact Verizon and find out when the last date was.

[andbowd]

I rec'd a call from a collection agency on 01/02/2007 concerning a CA. I did not know about CIC then. They have not sent me a written statement, only Called me. Can I DV them now? I found another CA is asking me to pay on this same account (11/19/07). When does the 30 days start? Account is not on my credit report ? what now??

[rmuse00]

I rec'd a call from a collection agency on 01/02/2007 concerning a CA. I did not know about CIC then. They have not sent me a written statement, only Called me. Can I DV them now? I found another CA is asking me to pay on this same account (11/19/07). When does the 30 days start? Account is not on my credit report ? what now??

Andbowd

You will get more help on your situation if you start your own thread detailing your situation.