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krista1010

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I had a collections account removed due to inaccuracy of data. Should I still pay the debt?
I had a collections account removed under the Fair Credit Reporting Act (FCRA) due to inaccuracy of data. Even though this item has been removed, should I still pay the debt? Is it possible that this item could pop back up if it's not paid or is the collections agency not allowed to report this again? If it gets remove, is the debt sent back to the original creditor?

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Two trains of thought...

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Personally,I think from a philosophy standpoint you should always strive to repay your debt.  Just because you can squirm out of it by some technicality, doesn't mean its not your debt. 

But as for your credit reporting....you'd be best advised to stay away from that creditor or collection agency.  If you make contact with them regarding this debt, they have the legal right to re-initiate the collection and "can" restart the window of time that it stays on your record.  So its a little risky to reach out to them at this stage. 

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It is possible that it could return on your reports, either from this collection company or a different one, but for now, I would do nothing. If you get a letter from another debt collector about this account, then you may want to pay it before it hits your reports again. Do as much reading as you can on "Pay For Delete Agreements" that info will be helpful to you.

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Now, if you make payment arrangements with a debt collector and fail to make the agreed payments, that can reset the "Statute of Limitations" on the amount of time that they can sue you in court for the debt, but that is only a slight possibility. Simply speaking to them, will not reset or restart anything, but speaking to a debt collector should be avoided unless you really know how to handle them and what not to say. You never want to acknowledge that a debt is yours with a collector. The credit reporting time period CANNOT be restarted or reset by any action, it will always begin from the time that the original account went delinquent that led to the charge off or collection account. There is a lot of confusion on this topic, but remember the credit reporting time period CANNOT BE RESET, but under certain circumstances it is possible to restart the "Statute Of Limitations". Always use extreme caution when dealing with debt collection companies as many do not follow the laws and can be very tricky.

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