In too deep :)

[sportsman]

First thing I would do is run your credit repot. This happened to me several years ago. I had a debt collection calling me saying that I owed them money. I dug deeper and found out it was from discover card. I called discover and they didnt show any outstanding debt. I confrenced them both on and the collection group then informed me that the person had used the discover card checks they sometimes send in the mail. They had used them at multiple grocery stores and had just enough of my info that it went as fraud. I filed a police report like I was asked to do from both discover and the debt collection agency. I sent all this info to the deby agency and didnt hear a word for a year. The next March Ironically the same time it is now and the same time the first call came in, I got another call along with a letter. I again sent them the info from the first offence and the police report and it was settled. Then the following March of the next year I got another call and letter. I again sent the same info from the previous 2 years in and have not heard a thing about it.

I now have a thing on my credit that anytime my credit is pulled the institution will see the fraud alert and call my cell to verify my identy. I will never again have a mail box out front of my home. Its all PO box for me from that year on.

So Id definately have your credit checked to see what is out there. You may be a victim of ID theft!!

[cj7zrcool]

If you don't owe the bill then don't pay it, but if you do.....

[Uncle Doug]

Tell them to pound sand.

[dustoffer]

Another recommendation about the checks we often receive in the mail from our CC banks/credit unions. Write and call the issuing bank/CU and tell them to not send you any pre-approved credit offers or checks - period! And, if they do, keep after them-eventually they will stop.

Also, when you check your free credit report, find the appropriate place on the site and "Opt Out of Pre-Approved Credit Offers"

[krisw]

If it's been over 7 years, don't pay them a dime. That makes the account active again and it counts against you. I got that from some money site.

[Mike Javi Cooper]

Here is a link to explain what I was talking about... If you believe you settled all your past debts, this may well be what is happening to you. As I said I've received two such calls and my wife just told me that she has also received several... We don't owe anyone but the bank for our house, so we know it's fake and responded as so..

Good luck and here's the link http://www.consumer.ftc.gov/articles...ebt-collectors

[skeeter]

If it's been over 7 years, don't pay them a dime. That makes the account active again and it counts against you. I got that from some money site.

what? don't pay it? thats what they say on a money site? and people wonder why the economy is in such bad shape.

if you owe a debt, pay it. you signed a contract giving that company your word you would pay the debt if they loaned you the money or offered a line of credit. sure bad things happen to good people. be a man, pay what you can and settle your debt.

[quackaholic1]

Check your credit report. If it is on there look and see when it was applied, if it has been over 7 years tell the credit bureau to take it off. It can only be on your report for a max of 7 years. Then if they call tell them to pound sand that the statute of limitations is over and you don't plan to pay.

[skeeter]

Check your credit report. If it is on there look and see when it was applied, if it has been over 7 years tell the credit bureau to take it off. It can only be on your report for a max of 7 years. Then if they call tell them to pound sand that the statute of limitations is over and you don't plan to pay.

so its ok to take out a loan, not pay the debt, wait 7 years and then say "ha ha! i don't have to pay"?

[quackaholic1]

so its ok to take out a loan, not pay the debt, wait 7 years and then say "ha ha! i don't have to pay"?

He said he never opened a loan with them or the company they claim to be representing. SO yes it is ok to tell them to pound sand. Even if he owed the money there is nothing they can legally do to him.

[Bowhunter004]

I've heard the 7 year thing is bologne. If a company sells your loan off to another company, they can hold it for 7 more years.

[deerslayer64d]

what? don't pay it? thats what they say on a money site? and people wonder why the economy is in such bad shape.

if you owe a debt, pay it. you signed a contract giving that company your word you would pay the debt if they loaned you the money or offered a line of credit. sure bad things happen to good people. be a man, pay what you can and settle your debt.

This

[Mike Javi Cooper]

I've heard the 7 year thing is bologne. If a company sells your loan off to another company, they can hold it for 7 more years.

Actually you're wrong.. Here is Experian's explanation. http://www.experian.com/blogs/ask-ex...credit-report/

[Bowhunter004]

Actually you're wrong.. Here is Experian's explanation. http://www.experian.com/blogs/ask-ex...credit-report/

Thanks mike, good to know.

[krisw]

so its ok to take out a loan, not pay the debt, wait 7 years and then say "ha ha! i don't have to pay"?

what? don't pay it? thats what they say on a money site? and people wonder why the economy is in such bad shape.

if you owe a debt, pay it. you signed a contract giving that company your word you would pay the debt if they loaned you the money or offered a line of credit. sure bad things happen to good people. be a man, pay what you can and settle your debt.

You really went on a limb with that. If a collection company is calling you, over an account that is closed, don't pay it. Don't send them a dime. It will be on your credit for 7 years. Sending them money opens that account back up. So from a credit standpoint, no. Don't send them money. Ideally, you wouldn't take a loan out and not be able to pay it. But things happen.

On the reverse side, it practically takes credit to do a lot of stuff today. You may not use it, but you need a credit score. Try to get your stuff paid, or settled. But after the account has been inactive, leave it at that.