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Help!! Need help deciphering a letter from a bank with a previously closed credit card account?
I just received a letter in the mail from Synchrony bank, formerly GE Capital bank which was the bank that held my America Eagle VISA credit card. Long story short I know this bad but I maxed it out and it became delinquent and they closed it. Well, after it went to collections a year later I disputed the debt with the collection agency. Since they couldn't prove the debt they took it off my credit report and its been over a year now and I haven't heard anything about it. I always sort of assumed it would come up later, because I was always told they just sell your debt to someone else since they don't care to prove it and then it's just an endless circle. Well now I have a letter in the mail from Synchrony Bank (the bank of the card) that starts with "This is not an attempt to collect a debt". It goes to explain they entered into a consent order with consumer financial protection bureau to resolve claims for customers who enrolled in card security, which I did when the card was active. Then it says I am eligible to receive a credit for $XX.XX, it tells me how they calculated it, and it is from the card security fees they charged from my account, they they "owe" me. Then they say we sold your account to X collection agency so call them if you have any questions. And they tell me I don't have to do anything to receive this credit. So this is obviously something that came from the original bank NOT the collection agency, but my question is, what do I do, do I need to do anything? The collection agency they listed is the one I disputed the debt with and they took it off my report and as far as I know they probably don't own it anymore or they couldn't prove it or something. I feel like there are a lot of unknowns. Now that I have this "credit" is this going to open up the collection agency again to try to settle the debt with me or since they already sent a letter saying they'd take it off my credit report, they couldn't prove I owe, etc, is it out of their hands now?

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