2006-11-10 01:00:53 · 10 answers · asked by David R 2 in Business & Finance ➔ Credit
that was17yrs ago, I bit you it has been written off by now.
Don't Pay!!!!!!!!!!!!!!!!!
2006-11-10 01:12:48 · answer #1 · answered by popo dean 5 · 0⤊ 0⤋
You need to have that company fax (or mail) you a copy of the original document you signed to obtain that credit and read the fine print! I would say you don't have to pay it at this point...but you need to see what you signed. There could be something in the fine print that says, "If I do not pay this debt, and the lender does not act on collecting it for an unlimited amount of time, the lender has the right to collect it when they see fit and may then put it on your credit report if not paid". That would be bad and could drop your score from 720 to 605!
2006-11-10 09:05:27 · answer #2 · answered by Mortgage King 1 · 0⤊ 0⤋
This is a collection account that some firm paid $.08 for as a lead for their people to hammer on. The statute of limitations is way passed on this and the debt could not be enforced. Tell them not to call anymore...you are on the do not call list.
I write a blog on the subject of credit management, mortgages, real estate trends, etc. Check it out for more information that may be helpful.
2006-11-10 11:58:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If the debt is government backed such as a student loan then you will have to pay or they will continue to attach interest and penalty to the debt thereby increasing it as time goes by. Do you remember what type of debt it was?
2006-11-10 09:10:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Mohamed is correct. The statute of limitations has passed on it. They are trying to bluff you into paying it. I would ignore them. If they are serious they will get a judgement against you, but as this much time has passed, they probably won't be able to get even that...
2006-11-10 09:05:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋
This is a tough question to answer because it may vary in states.
Statue of limitations may not obligate you to pay. Now if the amount is minor and to avoid any future problems I would pay it.
2006-11-10 09:05:11 · answer #6 · answered by righton 3 · 0⤊ 0⤋
deny the debt make them sue you, the debt has passed statue of limitations it is a bluff
2006-11-10 09:02:39 · answer #7 · answered by mohamed jihad dirka dirka 2 · 0⤊ 0⤋
are you sure its your debt? it could be a scam .
i would check you states laws about how long you are liable to pay this debt, if its been long enough then theirs nothing they can do about it.
2006-11-10 09:13:39 · answer #8 · answered by bshelby2121 6 · 0⤊ 0⤋
If they can prove you owe it, you owe it. And it can go against your credit.
2006-11-10 09:15:02 · answer #9 · answered by Momma Jo 6 · 0⤊ 0⤋
NOPE! 1989???????????
2006-11-10 09:10:37 · answer #10 · answered by TruDiva 3 · 0⤊ 0⤋