Dealing with CA who are old

joedirt · 11-25-2007, 01:43 PM

Ive got some stuf from 4 years ago and the CA has not contacted me in years. If I want to pay these now and the OC is no longer in business how do I deal with that??

jlynn · 11-25-2007, 08:14 PM

If, after studying this board, you want to do what many consider "the right thing" and pay the debt, my suggestion is to get everything in writing from the CA. You will need to have them send you something in writing as to the full balance due. When paying, I would suggest either a cashier's check or Money Order (depending on the amount of the debt) - not a personal check.

Make sure you have a hard copy of each of your reports where the debt is listed with the CA, for your records. You will want to make sure they do not reage the tradeline to the date you paid it off.

Keep this documentation for forever.

spinn · 11-25-2007, 08:25 PM

Dont pay them...............pay me instead.

Really..........why on earth would you pay them?

joedirt · 11-25-2007, 10:31 PM

spinn...how else do you get them off ur CR. Its way past the 30 days to dispute??

centex · 11-25-2007, 10:40 PM

are the accounts owned by teh third-party or are they contingency cases placed by a receiver for the OC? If the OC went BK, the accounts would have gone to the receiver, where they might have been sold off (most likely scenario).

Who is reporting? OC or third party entity?

What state are we dealing with? Remember that the 30 day ability to dispute is not an absolute deadline but rather a window in which certain rights are triggered. In some states, however, expiry of the 30 does not mean those rights went *poof*.

spinn · 11-25-2007, 11:30 PM

Quote:

Originally Posted by joedirt

spinn...how else do you get them off ur CR. Its way past the 30 days to dispute??

Paying them will not get them off your CRs. It will only be marked as a paid charge off, which hurts your score essentially as much as an unpaid charge off.

Enigma · 11-26-2007, 02:19 AM

Quote:

Originally Posted by joedirt

spinn...how else do you get them off ur CR. Its way past the 30 days to dispute??

Absent any state law to the contrary, the FCRA governs when the item in question will fall off your report, not the act of paying it.

Even though the thirty day window has passed you can still demand the CA prove they have the right to be paid, prove the amount they are demanding is correct and that no unlawful fees are interest has been added to the account.