I had some bad debt 15 years ago, debt no longer appears on my credit report, but collection agencies still call me & received copies of my credit report, how do I stop them for call me & getting my credit report?
Since the debt has already 15 years old, the Statute of Limitation on the debt has already expired and you are no longer liable for the debt. Even if they pull out your credit report and it gets listed as hard inquiry in your report, it can be removed because the inquiry is unauthorized. Moreover, if they call and harass you, you should immediately file a complaint with the FTC and the state AGs office in writing. You should never pay off any amount for this debt, because although you are not liable for the debt now, if you pay even a small amount towards the debt, the Statue of Limitation on your debt will rewind and you again become fully liable for the debt and the creditor can sue you to the court and bring judgment against you to recover the entire debt. So never pay any amount towards the debt which has already crossed the SOL.
You should never pay back a debt which has passed the SOL. SOL ranges from 3 years to 15 years depending on the state you have signed the loan agreement. Now since the debt has already been removed from your credit report, it makes no sense paying it off. You can choose to disconnect the phone as soon as you find them calling. Moreover, as Justin said, if you find any hard inquiry in your report made by them, you can send letters by certified mail telling them to remove the unauthorized hard inquiry listing. If they do not remove the listing, you can threaten to contact the state banking commission and file a complaint against them. In most cases they remove the listing from the credit report.
Since the debt is 15 years old, you are no longer liable to the collection agency for the debt because the statute of limitation has already expired. So you should not pay off the debt even if the collection agency calls you up again and again.
If the collection agency legally owns your debt, then as per the Fair Credit Reporting Act, you cannot stop them from reporting your debt to the bureaus. However, if you do not owe them money and they still report the debt to the bureaus, you can dispute the item with the credit bureaus. If the credit bureaus do not get it removed from your report, you can file a complaint against the CA with the Federal Trade Commission.
I have just received a letter from CLARITY debt collections agency.
They are asking me to pay £288 for a debt they say I still owe on a store card.
I am not aware of this debt to M&S they say it is from 1994 15 years ago. I do not have any details of this and paid it off as far as I know. They will not tell me the contact details and just expect me to pay up. Why has it taken them this long to chase me if it is still owing. Should I pay or try and contact M&S TO VERIFY
No do not pay them anything. Check to see what the SOL for you state is. If the SOL has past then you are no longer liable for the debt. And you need to send them a SOL letter letting them know the SOL has past and they can no longer collect on the debt. If you pay any thing on that debt then the SOL starts all over again and then you are responsible for the entire debt. If the SOL hasn't past then send them a debt validation letter asking them to send you a copy of the original contract signed by you. But most likely the SOL has past on a debt that old. Then you should dispute it with the CA and have it removed from your report.
Since the debt has already 15 years old, the Statute of Limitation on the debt has already expired and you are no longer liable for the debt. Even if they pull out your credit report and it gets listed as hard inquiry in your report, it can be removed because the inquiry is unauthorized. Moreover, if they call and harass you, you should immediately file a complaint with the FTC and the state AGs office in writing. You should never pay off any amount for this debt, because although you are not liable for the debt now, if you pay even a small amount towards the debt, the Statue of Limitation on your debt will rewind and you again become fully liable for the debt and the creditor can sue you to the court and bring judgment against you to recover the entire debt. So never pay any amount towards the debt which has already crossed the SOL.
You should never pay back a debt which has passed the SOL. SOL ranges from 3 years to 15 years depending on the state you have signed the loan agreement. Now since the debt has already been removed from your credit report, it makes no sense paying it off. You can choose to disconnect the phone as soon as you find them calling. Moreover, as Justin said, if you find any hard inquiry in your report made by them, you can send letters by certified mail telling them to remove the unauthorized hard inquiry listing. If they do not remove the listing, you can threaten to contact the state banking commission and file a complaint against them. In most cases they remove the listing from the credit report.
Since the debt is 15 years old, you are no longer liable to the collection agency for the debt because the statute of limitation has already expired. So you should not pay off the debt even if the collection agency calls you up again and again.
collections
How can I stop a collection agency from reporting on my credit report
If the collection agency legally owns your debt, then as per the Fair Credit Reporting Act, you cannot stop them from reporting your debt to the bureaus. However, if you do not owe them money and they still report the debt to the bureaus, you can dispute the item with the credit bureaus. If the credit bureaus do not get it removed from your report, you can file a complaint against the CA with the Federal Trade Commission.
clarity
I have just received a letter from CLARITY debt collections agency.
They are asking me to pay £288 for a debt they say I still owe on a store card.
I am not aware of this debt to M&S they say it is from 1994 15 years ago. I do not have any details of this and paid it off as far as I know. They will not tell me the contact details and just expect me to pay up. Why has it taken them this long to chase me if it is still owing. Should I pay or try and contact M&S TO VERIFY
No do not pay them anything. Check to see what the SOL for you state is. If the SOL has past then you are no longer liable for the debt. And you need to send them a SOL letter letting them know the SOL has past and they can no longer collect on the debt. If you pay any thing on that debt then the SOL starts all over again and then you are responsible for the entire debt. If the SOL hasn't past then send them a debt validation letter asking them to send you a copy of the original contract signed by you. But most likely the SOL has past on a debt that old. Then you should dispute it with the CA and have it removed from your report.
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Y3LSYa Im grateful for the article.Really thank you! Will read on...