Are collectors required to report debts to the credit bureaus?

Question

I just found a 4 year old bill from a collection agency in some of my papers. Thing is I pulled my credit report from all three bureaus yesterday and it wasn't on there. I would think it would be there by now.
Are the collectors not required to report debts or could it be that they aren't bothering because it would only sit on the reports for 2 years at this point?
I do owe the money. It's from an old phone bill.
I haven't received anything else from them since '03. Should I even bother contacting them or just ride it out and hope it doesn't show up on the credit report?

Answer 1

Actually negatives can sit on your credit report for 7 years. It would sit another 3 years not 2.

Morally, you owe the bill and should pay it. However if you contact that collection company from 4 years ago, they probably no longer own your debt. It's probably been sold a couple times. You many never hear from anyone.

Answer 2

They aren't required to report it, but they usually do. In your case, I wouldn't be surprised if the original company sold your debt to a third party collector, again, and started collection all over. Paying the debt is the best bet because it will probably come up again when you least expect it.

Answer 3

If they have contacted your father it counts....It's going to count against you anyway. It's better to have a late pay than a no pay though. It may not have been reported yet if a collection company is just starting to contact you. Ask them about it and if you pay right away alot of places won't report it.

Answer 4

only you can answer your questions based on your own sense of ethics and morals. that is not to be snide at all just fact. because someone will pay the bill eventually, and that is eveyone else.

Answer 5

No , but if they have a brain , they report debts anyway .

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Answer 6

that is very strange that it is not on there. I would play the cards and not worry about it at this point! Good Luck!