Question regarding credit/old debt...

[chefcraig]

I recently recieved an offer in the mail to repay an old debt at about one third of the original price, around $114. Here's the thing...the outfit purchased the original claim from another debt reclamation service, who probably got it from another...ect.

This current outfit claims the debt is from 1994. I do not even remember incuring this debt (supposedly from a clinic). They asked me to verify the last 4 digits of my S.S.#.

My credit is already in the shitter. Should I go ahead and pay this thing?
Anyone familiar with this type of stuff?

I'll try to get back to a PC tommorow, otherwise I'll be back Tuesday. Thanks for any light anyone can shed on this.

[EVHWolf]

I am not an expert at this, but it sounds fishy to me. I mean its 12 years old!?! Did you give your ss#? Check out the debt service. Make sure its legit.

[Van Squalen]

No. Don't do it. It's a probably a scam. Especially if you don't remember incurring the debt.

Debt reclamation is a hack biz. You can get seriously ripped off. Contact the supposed original instituion where you owe the money to verify whether said debt is still due (after 7 years, most companies write off unpaid debts like that, assuming they sent you the standard years' worth of debt collector legal threats and such.).

DON'T give your SS # EVER. Ask where the debt was incurred and call them directly.

[jimmy812]

I agree, something sounds fishy. So this debt has been either sitting there collecting interest or changing hands (with interest accrued). I don't think you should pay anything or give out any personal info (SS#) until you get more information regarding this debt.
It sucks getting into debt, but it seems like you can't live life without getting into some kind of debt.

[ZeoBandit]

Yeah, this reaks of scammage. Don't ever give your SSN number to anyone. By now, a company would of written off a measily $114. They wouldn't be pursuing it for 12 years.

[Brett]

That's over a decade old, that stuff is suppposed to be off your credit after 7 years. My wife had some stuff on there from like 1992 when she was 21, and my dad wrote letters to the collection companies and they removed them all.

[seenbad]

Yeah, I'd call bullshit on that. You could check your credit record to see if there is anything on there, but like it's been mentioned, it should drop after 7. If it is there though, you should be able to challenge it and have it dropped by the same service you check your report with at no charge.

[billy007]

Damn, I just read an article the other day about people getting sucked into this, but I can't remember where. Don't pay anything until it's verified that you actually owe it.

[SactoFan]

This happened to me years ago. I got back from vacation and there was a call about an alleged "bad debt" I was responsible for. The guy on the message tried to sound like a total badass with threats of legal action and the whole bit. Don't fall for it, chef. Even if the debt WAS legit, NEVER divulge the SSN. And even BANKRUPTCY drops off your credit report after 7 years...no way this is straight up. I STRONGLY urge you to spend $20 a month on credit monitoring through Equifax. They email you with even the most MINUTE change to your credit file/rating...

[twonabomber]

or at least get your free credit report every year.

[Dennis]

There's some good advice in this thread CC. It's older than 10 years so I wouldn't sweat it.

[chefcraig]

Friends, I truly appreciate the input and advice. The thing smelled like fish to me also, I know that I owe from recently, yet 12 years ago?

Thanks again, folks.