A Debt From 1999 Will be marked Paid! Is this what I need credit score Points?

Hello
And Thank Heavens For Someone Like You
I Am Doing Some Reading And Trying To Clear Up My Credit Your Probably Hit With Hundreds Of Questions A Day But I Am Really Desperate For A Fast Answer The Collections Company Is Expecting Payment This Morning I Have A Debt From 1999 However My Credit Report States The Debt Is From 1/1/ 0001 Balance Due 1,086.00 The Woman I Spoke to Said It Will Mark Paid On My Report Once Its Paid Is This What I Need For The credit score Points? Or Is There Something Else I Should Ask About? Please Help I Know That After Some Time I Think 7 Years It Doesnt Matter Any Way Right?
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Right
If they mark it as paid but do not take it off it will not help your score at all.
Matter of a fact it might hurt your score.
Redated to 2005 marked as paid on that date or "date of last activity".
So in 2008 it falls off completely
Right now it pobably has little effect on your credit if you have current credit working right now. The last 2 years of credit is more heavily weighted.
I would make a copy of my report now. Then tell the creditor it is of no help to pay the balance unless the entry is totally removed not just marked as paid.
So at this time you feel it is in your best interest to leave it like it is unless they are willing to do so. Then explain the you have made a copy of your report with a date and if any changes are made or any re-dating, inquiries or other unlawful activity occurs, you will be forced to contact the ftc about your explicit rights under the fair credit reporting act and a possible law suit may arrise in conection with any such activity. I am not trying to be rude but just have to do what is best for me and I have rights under the fcra. Please do not call me anymore or use any unlawful practices to collect on this very old collection.
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Wow Thanks So Much The Woman Kept Saying It Would Be Marked "Paid" And I Was Curious About This Because I Dont Know Much. However I Asked What That Meant She Said She Had A Long Day And She Would Explain Tomorrow. She Faxed Me What She Called An Agreement Giving Me Until The 30th Of The Month To Pay The 275.00 Settlement. I Was A Little Weiry I Was Waiting On You To Reply Back To Me So I Asked Questions After She Called Me 6 Times I Finally Pick Up And She Demands The Money (My Bank Card Info) Now! I Said I Thought I Had Until The 30th She Gets Really Angry, I Refused To Yell Or Get Angry I Thought This Was Outragious Behavior Is It Normal? She Then Puts A Man On The Phone Who Is Screaming in My Ear About How I Got A Great Deal And I Need To Pay Today And They Will Not Charge My Card Until The 31st Im A Little Shy About Shooting Off My Bank
Information To Anyone. But Make A Long Story Short I Told The Man Who Was Very Angry That I Would Call Back After They Cooled Off Because Paying Off A Debt Is For Me Not Them And I Didnt Understand Why They Were So Angry He SaidI Was No Longer Allowed To Speak With Melissa He Was The Attorney On The Case And I Had To Deal With Him He Gave Me His Number And I Said I Would Have My Husband Call.
I Do Feel Like You Helped Me Im Not Sure Whats In It For These Really Mean People Im Sure They Get A Paycheck Rather I Pay My Debt Or Not So I Dont Understand How They Can Spend Their Lives Being So Upset With Strangers On The Phone. I Hope They Are Nice To There Families Because It Seems To Me As Though These People Are Very Stressed Out Again I Am Just Another Person Trying To Make Things Right With My Credit I Am A Fan Of Yours Now I Love What You Do I Think More People Should Know About You.. You Are An Angel Giving Information To Me. This Is A Life Long Commitment Changing My credit And I Need As Much Help As I Can Get To Do it The Right Way.
Thankyou Again And Happy Holidays To you.
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Sounds like they are already out of bounds on the collection laws stated in the FCRA. Collections normally occur withing a 6 months time frame. At this point the creditor has already tried to collect and sell the debt for pennies on the dollar. The creditor takes a tax deduction from the IRS for the difference and the collection company keeps whatever they can collect on. That's how collection companies make money. So if they do not get your money they do not
get paid and go out of business which is good for you. Then you could dispute the file and have it removed since they cannot respond. So keep the phone number and check every 6 months or so from a pay phone or something.
In this case it sounds as if the file is very old and has been written off totally by the creditor in the first place. If this is so they collection company could afford to agree to a 1/4 payment because they have no investment. If this is the case collection might be illegal due to multiple collection on a written off debt to the IRS.
I bet the guy screaming was not even a lawyer. What do you want to bet. Tell us anything to get us to pay.
To be quite honest I paid every debt I ever accrued and feel everyone should pay ALL true debts. However if I was this far down the road I would not pay knowing what I know now. I paid an electric bill I owed 2 years late and it was redated. Same for another debt. But that was years ago before I got into this website on accident to help people like me. I found it very difficult to find information on the internet back then for credit help with the bureaus and even harder to talk to a real person.
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