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i actually got a crumpled up letter in the mail from a debt i supposedly never payed off in like 04 if not even earlier then that. i remember going over on my bank account and having charges for over drafting but i specifically remember the day i payed it off at the bank. this statement is not on my credit report...on any of the three...and i have never recieved a letter since the time i had overdrafted so why now? plus they have my address from like 4 moves ago. so im not exactly sure but i think it needs to be looked into a little more before im giving out my credit card information to pay this "debt." if you find anything else out it would be great to know! thanks
Hi jessicai
What is the SOL in your state? If it hasn't expired and if it is a valid debt, the creditor may well try to claim it even after so many years. However, you can simple ask for debt validation if you have the slightest of doubts.
Do you have your most recent cr ? Your best bet is to got myfico.com or truecredit.com to see or monitor your credit. And then from there proceed.
On your transunion cr it actually shows the year/month the debt if there is one will fall off your cr.
Is the collection notice from the bank? If so they surley would have been on your report. They do not play with delinquent debt. I would definatley get a debt validation letter in the mail ASAP and send it by certified mail with return receipt. What state are you in? This really matters when it comes to your rights. You may be protected by the statute of limitations. Most states now are below 5 years and yours may fall in that area. Be sure to let us know when you think you paid the debt. The date really really matters and so does your state.
payoff
Can I pay off a charge off?
Can I pay off a charge off?
Yes you can. You have a charge-off because this debt has been pending for over 180 days. However, this does not at all mean that you don't own the debt anymore. You may pay it in full and before that come to a written agreement with your creditor to have it listed as "paid in full" or some creditors even agree upon a half settlement and report this as "settled charge-off". But remember paying it it in full too will not get it removed from the report. It will stay on for the next 7 years.
You can also request a pay for delete. With this the collector agrees to remove the debt if you pay off the agreed amount. You must be sure to get this in writing before paying the debt off. Just remember that if it was sold to a debt collection agency and they do agree to a PFD only the debt collectors mark will be removed from your credit report and not the original creditors.