Ok... I have been getting letters from a collection agency about an old B of A account that I had with another person... I know that account has been closed for at least 7 to 8 years.. I recently checked my credit report and it is not listed (I checked all 3)... however, they have been sending me settlement letters and calling... Since its not on my credit report.. should I worry? They have been sending me stuff for about 8 months... by the way... the collection agency is one of the biggest and most successful.. so I am scared to call them! :(

Hello Miss Q:

Whether you owe it or not won't show up on your credit report. IF you owe it, IT'S Going to BE THERE SOON. Seems to me, that you would want to STOP it from ever getting there. If you ignore it, it's going to be there soon. Then you're going to pay?? Why wait??

excon

PS> You're scared to talk to somebody on the phone?? Hmmmm. I can't help you with that...

As excon said, whether a debt currently shows on your credit report has NO bearing on whether it needs to be paid. What DOES have a bearing is 1) that you signed for the debt, 2) that you did not pay it and 3) that those trying to collect on the debt are legally entitiled to.

You need to send them a letter stating that all correspondence should be by mail and that you need for them to produce proof of the debt.

Ok if this is a old debt it may well be off the credit report, and it may be past the Statue of Limitation so they can't take you to court.

But also if this is a joint account, the other person may have re-affirmed the debt or did something or some action which made the debt valid again also.

I would contact them and see if they have been doing something.

But even if it is past the SOL and not on the credit report, it does not mean you don't owe the money, and they may try to collect from you for the rest of your life.

If she settles with the agency? Wouldn't paying it put it on her credit report. I thought if the sol ran out, you are not supposed to pay it. Especially since they tack on money.

Will disputing it ? Put it back on?

I thought if the sol ran out, you are not supposed to pay it.?

No, All that the SOL running out does is mean they can no longer sue you for the money. A debt is an obligation. She took money from someone and did not fulfill her obligation to pay it back.