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I have a good credit score, but have a question about a collector trying to collect on old debt
Okay guys here is my situation. I am a 29 year old who at the age of 21, starting doing everything in my power to change my credit score for the better. I pulled my credit report and paid off the 3-4 derogatory items on my credit report completely. At the time I had a poor 550 credit score. Over time all of the negative items fell off (they were all medical related bills). I then got a couple credit cards (always kept them under 10%). I then took out a secured loan for $2000, then a signature unsecured loan for $750, another one for $550, and then another signature loan for $2500. I paid all of them off. I got a good job also in this time and got my degree. I was completely turning my life around. I actually overcome some very serious personal problems as well. My credit score kept climbing and I have never missed a payment on Anything since the age of 21 since I started working on my credit. I was able to bring my 540 credit score up to a "excellent" 762 and 758 on credit karma. I have no derogatory items, no missed payments, my credit is good now.

Well earlier this month some third party bill collector who supposedly bought an alleged old debt of mine has called 2-3 times and wants me to contact him. He is with some place called dynamic recovery solutions. When I look them up I see nothing but complaints from the BBB forums and people saying they are using very shiesty tactics to get people to pay on accounts that are VERY old.

I checked my credit karma as I do always, and nothing is on my credit report, and IF this IS even a legitimate debt there is a very high chance that it is older than 7 years old. Because I have been keeping up with any bills or fee's that I have incurred and have always made sure to pay things off when presented with a bill. I hear stories how these agencies will buy like 30,000 accounts of debts at a time, for pennies on the dollars, and basically as a last ditch effort do whatever possible to get you to agree to pay them. Most of the time these places don't even have any of the actual records and information of the original debtor or facility where the fees originated from.

So I have been very skeptical to contact them back. My reasons are:

-I feel like they are much older than 7 years
-my credit report is spotless
-I don't remember receiving any type of bills, because if I did, I would have paid then. I didn't want my score impacted, so there would have been no reason for me to not pay attn to then.
- I feel as if I DO contact them back, they will make a mark on my account notifying the other agents that I am indeed reachable, and for them to keep pursuing me. At this point who knows what dirty tactics they can try, maybe even trying to start the 7 year time period over again.
- if this was a legitimate debt, why wouldn't this have been on my credit report? As it is very unlikely this was for anything recent.

I don't know guys, what should I do? Should I even bother to play their game and try contacting them back? I don't want something to appear on my credit report one day and send it BACKWARDS, ANY!

Should I contact them? What would you do? Any insight?

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First, per FCRA, the reportable length for collection is 7 years plus 180 days from Date Of First Delinquency (DOFD), anything older? Can not be included in your report. However, your responsibilities to a unpaid debt don't end with that length nor begin with that length either, it isn't depend on what's on your credit report. Meaning that a unpaid debt can be collected or attempt to beyond the 7 1/2 years, assumes it's done in accordance to FDCPA and your State's collection/consumer laws, they just can't put it on your report. Your "legal" responsibility to a unpaid debt usualy goes by Statute Of Limitations (SOL) of your State or the State where the debt occurred, it refers to the length of time a creditor can sue you in court for that debt, once beyond that? To pay it or not, would be entirely up to you, and once it's beyond the 7 1/2 years? It can't no longer be included in your report ... Tho per FRCA? In very limit circumstances, the creditor/employer can request your full factual credit report from the very first day you have file with Credit Bureaus and I do mean every and anything was on your report at one time.


What you should do will depends on the length of that account/DOFD, you can simply ignore them (which I personally would do in this case) don't contact them or answer their calls. If you feel bit adventures? Ask for debt validation in writing if it's still with-in first 30 days of dunning notice, or tell them you will not pay it and stop any further contact with you in writing of course, after that? They can only contact you to tell they intend to take legal action against you. Very very last thing you should do is, telling them you will pay or taking ownership of that debt, or worst yet. entering a firm repayment agreement with them, those "could" restart the SOL, as it can be seen as brand new contact.


Do continue monitoring your credit report and any legal notice in the mail, it's known that collection agencies puts out of date debt on your report and suing people when it's long past the SOL, hoping the debtor don't show up either don't know better or too afraid to and end up with default judgment against them. Also the "legal' notice or the "summons" can be fakes as well, they would do just about anything to trap you in paying.

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