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HELP...Got letter for 12 year old debt from Bank/Checking Acct. & I was a minor at the time. ??
Hi, I'm seeking advice on what I should do regarding a letter I received in the mail this morning.

Here's what the letter said:

"February 10, 2015

We are a debt collection company and our client, Jefferson Capital Systems, has retained us to collect the debt noted above.

This is an attempt to collect a debt and any information obtained will be used for that purpose.

Our client is willing to accept payment in the amount of $157.40 in settlement of this debt. You can take advantage of this settlement offer if we receive payment of this amount or if you make another mutually acceptable payment
arrangement within 40 days from the date of this letter.
We are not obligated to renew this offer.
To make a payment, please telephone us at 877-488-1792 or mail your payment using the coupon on the reverse side of this letter. We process checks electronically and your checking account will be debited on the day we receive your payment. Your check will not be returned.

Unless you notify us within 30 days after receiving this letter that you dispute the validity of this debt or any portion thereof, we will assume that this debt is valid.

If you notify us in writing within 30 days after receiving this letter that you dispute the validity of this debt, or any portion on thereof(we will obtain and mail to you verification of the debt or a copy of a judgment.

If you request of us in writing within 30 days after receiving this letter, we will provide you with the name and address of thc original creditor, if different from the current creditor.

We look forward to receiving your payment.
Allied Interstate LLC"


The last 6-7 years I have been working hard to obtain decent credit. As it stands I have no negative marks on my credit whatsoever.

Sometime around 2000-2001 I opened a Wells Fargo checking account. I was around 15 or 16 when I opened the account, and I was maybe 16 or 17 when it was closed. I was young, stupid and broke and I did leave the account with a negative balance :/

It's been like 12 years, and now out of nowhere I get a collection letter.

I just found a bunch of my old credit reports I printed years ago (as early as 2005) and not 1 have this account/debt on them.

I'd be happy to pay it so it wouldn't affect my credit, but a few years ago I was contacted about a book club debt from around that same time period. I made monthly payments on time every month until the debt was paid off, but even after all that, they STILL had reported to the credit bureaus as a negative mark, so I had to wait years for that to get off my credit even though I paid the collection agency perfectly.
So now I'm afraid even if I pay them, it will still put a negative mark on my credit. :/

Here's my questions:

1.) Do bank collection issues have a statute of limitations (do they go away after a certain amount of time) like regular debt? ...7 or 12 years or something. ?

2.) Should I try to dispute it since I was a minor?

3.) If I contact them trying to dispute it, could that be seen as 'acknowledging the debt' and restart the clock?

What should I do? I'm desperate to keep my credit ok.

I was thinking about just waiting and if it shows up on my credit, then dispute it directly with the credit bureaus. Is that a bad idea?

Any advice would be GREATLY appreciated!

Thank you SO much for your time. :)

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Sounds like a scam!!!

 The maximum statute of limitations for collection of debt in the US is 10 years and most are less.  You can check that out by searching for Statute of Limitations on  debt collections and see what it is for your state.  This holds for banks, credit card companies, medical bills..all collections.

Disputing the debt does not restart the time limit.  Just make a copy of the letter they sent and send it back with a letter of your own telling them that you were not of age to legally enter into a contract so their claim is invalid on both counts (expiration of SOL and being a minor 12 years ago).  Keep copies of all communications on this because, if they try collecting again, notify your state's attorney general by letter and include copies of all correspondence.

I hope you are doing annual credit report checks just to keep everything correct.  Just don't let these creeps get to you because they are just scum!!

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