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to pay or not pay, that is the question!

Date: Fri, 12/01/2006 - 06:23

Submitted by msrenda
on Fri, 12/01/2006 - 06:23

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Total Replies: 7


I recieved a letter from First National
Collection Bureau, Inc. which states that they are trying to collect $87.37 for an old Fashion Bug account and includes the account #. I don't know if I should pay the account or not since this account is 10 years old and not on my credit report anymore?


Send them a debt validation letter certified mail with return receipt. This account is definately out of staute of limitations. The collection agency may report it to the credut bureaus. If you make a payment, you will start the 7 year clock again. Always make a collection agency validate the debts in question.


lrhall41

Submitted by Not so Lucky on Fri, 12/01/2006 - 06:31

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NO NO NO do not reaffirm this OLD debt. send this collection agency a debt verification letter (you can find a template letter on my blog site) this will most likely shut them up. There are collection companies out there who buy junk debts. Do not re-open this collection or debt whatever you do and do not contact besided a DV letter this agency. BTW does Fashion Bug still exsist. I ocassionaly get a collection letter for a debt 10 years ago for Lerner, which went bankrupt in 89.. soe my answer is NO do not pay anything


lrhall41

Submitted by PDLFREE on Fri, 12/01/2006 - 06:34

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Thanks. I don't know where to get the debt verification letter on your blog site. I'm a little blog illiterate
Yes Fashion Bug still exists, I just looked it up. 1996 was when I opened the account, I'm sure the last time it was paid was 1997 and I completely forgot about it.


lrhall41

Submitted by msrenda on Fri, 12/01/2006 - 06:52

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