I had some medical bills from 4/10/01 that I didnt not pay in full. I was harassed for awhile by collections and then left alone. This debt was never reported on my credit record and has never showed up. Today on 2/14/2007 (6 years later) I receive a letter from a collections agency telling me to pay up or be reported to the credit agency. I am afraid to call because I heard making contact with them could cause the statutes of limitation to start up again. My question is, If I ignore them, can they really report this to the credit bureaus since the debt was from 6 years ago? Is this just a scare tactic at this point- keep in mind I havent heard from them in 5 years until now all of the sudden.
2007-02-14 11:27:45 · 3 answers · asked by Avery S 2 in Business & Finance ➔ Credit
I live in Texas btw
2007-02-14 11:30:07 · update #1
Most collection agencies are not reporting members of the credit bureaus because they are not issuers of credit. They just buy old debt for pennies on the dollar and make an attempt to collect it. If they are not a reporting member, they cannot add anything to your credit record. So most of them are bluffing when they say they will report it on your credit record.
2007-02-14 11:34:31 · answer #1 · answered by Brian G 6 · 0⤊ 0⤋
They have 7 yrs. They sold the account in most liklihood and the new owners are trying to get anything they can. you must decide if you want it reported or if you have the money to pay them at least a portion to get rid of them? I would do this and I did do this. Write them a certified letter, typed and state that you have received no information on these bills and have nothing showing the debt. Since you aren't aware of it you have spoken to your lawyer and he told you to ask for the original itemized bill for the debt before you pay it. Now, most likely they don't have it and the hospital or Dr. has written it off yrs. ago and did not keep records. if they can't come up with proof then they may give it up. If they do it's a different story. They have the next yr. until the seven yrs. to report it and then it will have to be removed, by law. It's a tough call. If you have no plans to buy anything big in the next two yrs. ride it out.... if you are buying a home it may cause you problems. you can always settle for a fourth of the debt if they start up again after the letter. Also put at the botton cc: and a lawyer's name to make it look good, and file and copy it. Mail it and do not call unless you have decided to pay less than the full amount to keep it off your record. I would ride it out unless I were really buying something and a lot of times car dealerships don't look too much at old medical bills, just depends.
2007-02-14 11:41:10 · answer #2 · answered by MISS-MARY 6 · 0⤊ 0⤋
It has to come off seven years from date of first delinquency (last payment or date of service if no payment was made) so even if they put it on your report it can't stay there long.
2007-02-14 11:40:00 · answer #3 · answered by clawedlemew 3 · 0⤊ 0⤋