old debt in good standing but w/collection agency

Are the account numbers the same? If you dispute that you owe a balance, write a letter to the credit bureaus (send it certified, return receipt) disputing the account that you dispute. As for the collection agency, don't worry unless you are being contacted by the agency to collect and you don't agree that there is a balance. Your biggest concerns should be whether the collector is also reporting and actively trying to collect from you. SOLs are diferent in every state. Good luck. Hope this helped.

You need to dispute the account with the credit bureau. If the last payment was made in 1996, then you should be out of the SOL. Although I believe if you move from the state, it can freeze the timer on the SOL. Did they give you the name of the collection agency? If so, you could contact them, and request that they validate the debt. You are well beyond federal reporting limits of 7.5 years from the date of default, so it should not be there. Does the item say what the date that it will fall off is?

Sadly it does not have a fall of date. The account is sadly noted as SATISFACTORY! It is not listed as negative or derogatory...which is weird. When I called the number listed on the account under AMEX I am actually calling a credit agency even though it is listed as AMEX with AMEX address (I verified it online). Its really weird. I have to find out exactly what the deal is.

What is the date of the tradeline? The federal reporting period is 7.5 years. If it is older than that, you can dispute to have it removed. If it is not showing negative, I would ignore it. A satisfactory account is not necessarily a bad thing.