Settlement letter
Date: Tue, 02/01/2011 - 12:13
I received a settlement letter from Northland Group saying that Lvnv Funding has assigned my account to Northland Group for collections. They are offering me a settlement of $286.32 on a balance of $1908.62. It sounds like a good deal however the debt is from 2003. What should I do about this letter as it is so old. Morally I would like to pay it off but if it is already gone from my crediti report it seems like it could do more harm than good to pay.
Thanks for any help on this situation!
What state are you in? I have a feeling this might be past SOL.
What state are you in? I have a feeling this might be past SOL.
Check the SOL there. Don't pay anything without knowing!
Check the SOL there. Don't pay anything without knowing!
When did you make your last payment on the account? When did yo
When did you make your last payment on the account? When did you leave AZ?
RE: #1 Settlement letter
It is going to fall off of your credit report this year, the collection complany is tring to make their last attempt to collect the debt and you should not pay. once you pay although it will show with a zero balance on your credit report it will be looked at as a new collection account since the date that it was last updated will now show up as 2011 and it would be updated when you pay it. This will re-start your clock for this collection and it will be on your credit report for another 7 years.