After 9 years I hear from collection agency about a truck lease I had with them. The total bill was about $3200., between mileage and damage to truck. The collection agency found me at a new place of work. I can't remember exactly what took place nine years ago, but I think I asked to have the damage taken off the bill and send me an updated bill and they did not take care of that. This has already hurt my credit years ago. It sounds like this will be put back on my credit report for the second time. What should I do? Just pay the bill or make payments to the bill or wait till I hear from them at a later date or what?

donf

If the bill is a just bill then you can choose to begin making payments.

You can also choose to fight the bill as I'm sure the life of the debt is well past the statute of limitations.

What happens is the the old debt is sold to a new company at a low price to recover money and get it off the original holder's books. Now it is the property of someone else who is trying to collect it from you. When you hit the 7 year threshold, even this debt should have been cleared off of your credit report. Check with an attorney, there may be nothing supporting the new claim for the debt.