recently i recieved a letter from my phone company saying i owed them about 800 dollars from a phone i had 7 years ago,,i had never,never heard anything from them till now,,,how long is the sol in ny for collecting,,and should i contact them?,,i heard contacting them is like admitting guilt,,,will this appear in my credit now,,should i pay??
please help
2007-07-29 14:53:11 · 3 answers · asked by ladyluck1122 2 in Business & Finance ➔ Other - Business & Finance
Well, if it is 7 years ago, DO NOT pay it! If you pay now, it will stay on your credit for 7 years from today's date. It goes by the date of the last activity.
What happens is desperate collection agencies will pay pennies for each old lead in the hopes of collecting. Mostly I've seen this on Experian's credit reports. They will try to strong-arm you into paying or even settling this debt.
Get a copy of your credit file and monitor it. If it goes beyond 7 years, too bad, so sad for them.
Good Luck
2007-07-29 15:00:56 · answer #1 · answered by C D 4 · 1⤊ 0⤋
Oh My God! That's ridiculous! I found the following link, it varies but it looks like actions to receive the money must be within six years. Lawyers often have free consultations so I would just take it to them and ask them about it.
2007-07-29 15:00:30 · answer #2 · answered by Sarah C 3 · 1⤊ 0⤋
If I owed them I would pay, if I didn't I wouldn't. I would contact them to prevent misunderstanding.
2007-07-29 14:58:00 · answer #3 · answered by Nelson_DeVon 7 · 0⤊ 0⤋