InoVision-Medclr-NCOP, F, LLC

if you pay it, everything stops, but if its been reported, it will remain on your credit report for 7years fromthe date of last activity. You may be able to see if you can swing a deal along the lines that if paid in full it will be reported only as Paid" or "paid in full". There is no guarantee, but its worth a shot.. a simple "paid" will do less damage than "paid colection " or "paid Cahrge off".. Good luck.

Date of last activity as far as from AEP? Or from the collection agency?

Jessica, the electric company might have sent this account to collections since you have not paid them from 2000. Your first move should be to get sure whether this collection agency is authorized to collect the debt from you. They must give you all the necessary details about this account including the copy of the copy of the agreement you signed with the electric company. After you are sure that they are the legitimate ones to be paid, you can make a deal.

Before you make a deal, I will also suggest you to verify the SOL first. Since this debt is from the period 2000, it might be out of the SOL period. If the statutes have expired, you are not legally obligated to pay it and can escape collections. But, paying the debt will improve your file in certain ways.

If you pay this account, the statutes that might have expired will be enforced from the beginning again and you will come under all legal collections. As you have money to pay this debt in one time, this won't be a problem.

This account will remain in your file for 7 years starting from the date of first delinquency. Anybody viewing your file during this period will come to know how you have been towards this account.

Statute of limitation takes the date of last activity you paid towards the account. For example, you last defaulted on this bill in the year 2001, statutes will begin from this period till the date set as per the laws in your state. You need to know the statutes in the state where this account was opened and confirm if it is within the legal collectible period or not.

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So if I pay it all off at one time, it will not restart the clock? The default was from july of 2001.

Should I put a letter in with the payment stating to make my status paid in full? I just don't want this dragging me down further.

If the full balance is paid in one time, the account will be reported as 'paid in full' and it will end there. The risk of restarting of SOL is considered when you make partial payments and in case you default later while paying the debt.

After the payments are made, the collection agency should be sending the account back to the creditors who will update with the bureaus. However, you can send a letter to make your point valid.

I got a letter from a collection agency - alledged
debt is from 1991, almost 15 yrs ago, debt originated in Indiana. Isn't the SOL expired? How do I proceed with the collection agency?

Lucy,

What is the type of the account? I mean SOL varies for written agreement, verbal agreement, open account and so on. SOL clock starts from the date of last activity to the account. Can you remember when did you make the last payment to this account? Then you can calculate easily if SOL has been expired or not-

http://forums.debtcc.com/forums/state-sol.html

No legal action is enforceable for a past SOL debt. But that does not stop collectors from calling you. Write them since SOL of the said account is already over, they should stop all collection activities. Hope this helps.

This was a utility bill. the last payment was probably
02/91. I moved in 03/91.

Thanks Stan!

You are welcome lucy :D

It seems that SOL is already over. Now it completely depends upon whether you will pay it or not. Remember, your one payment will restart the SOL clock and you will become viable to legal actions again. You have the choice of saying NO at this stage.

However, you might like to pay it too as you incurred the debt. In that case, try to pay it with one lump sum amount. Such a old debt is not listed in your credit report also. If you go for installments, chances are it will appear in your credit file again, if your creditor wishes.

I contacted the utility company directly via email & have an email stating "Our records do not indicate a debt in your name at this address." Is there any reason to believe I actually incurred the debt to begin with that you know of?

Lucy,

Let me show you two possibilities here-

1. Since the account is too old the utility company has sold the account to the CA and thrown all the records into trash.

2. Or the CA has fraudulently collected your info and trying to squeeze money from you.

However, you have done a great job. The email from the original creditor will give you some support. Get it printed and make some copies. Attach it with your letter to the CA and tell them to stop contacting you.

I have a collection company on my credit report trying to collect a debt that isn't mine. How do I contact this company called NCOP.

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According to my information, my debt was sold to AssetCare, Inc. According to the internet this business is fraudulant. Don't send them any money.

Any collection agency attempting to collect a debt should be send a debt validation letter. That protects you and will weed out the illegal riff raff.