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Posted in Paying Your Bills
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Question By
Ericuda

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advice on debt collector on outdated debt
I just received a settlement offer on a debt that is nearly 13 years old. I have not received anything about this account in about 12 years. The letter states that the debt is too old to sue for and also too old to report to the credit reporting agencies but that if I could be kind enough to send in 50% of the balance they would consider it paid and closed. Do I ignore the letter or do I pay it? After all this time I imagine they are able to sell the debt and start the collection clock over again? But havent they already done so? Advice please?

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It's a "scam"!!

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This letter was likely sent by a 'junk debt collector' who bought a bnundle of expired debts for a pittance and hopes to collect.  They have absolutely no basis for collection at all.  Just throw this away and don't worry about it.  If they should have the gall to send you another letter, just dump it and disregard.  The statute of limitations on debt collection long ago expired. 

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