Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Karma
Profile Image

Question By
AdPierre

1 Contribution
0 People Helped
Received settlement letter for a removed collections account...
I've noticed a "removed collections" tab on this site. After selecting it, I saw 19 accounts that were removed. A few days ago I received a settlement letter for one of those "removed collections" account. Does that mean I have to pay it? Whether I pay it or not, will it reappear on my credit report as open? Will it continue to damage my credit score?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
935 Contributions
133 People Helped

It may have been removed based on the time limit of the negative reference.   This does not mean the debt is not owed.  You should refer to the statute of limitaitons for your state, they may have no legal authority to attempt to collect the debt if it was after the statute of limitations.  Should they file, you would file an appropriate dispute referencing the statute of limitations and the date of the original debt (last payment date or date of reporting, whichever is later.)   As its a settlment letter, I doubt that a judgement through the court was filed or they'd want and be entitled to the full amount.  If it was a judgement, they can file a an update and keep the debt open after the initial court judgement. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.