A $400 debt that is over 7 years old and not on my credit report and I'm being hassled...

by Suzanne
(Ithaca, NY. USA )

Do I have to pay these people? It's not on my credit report and a credit union told me I shouldn't pay it...

Reply from DebtCollectionAnswers.com:

Suzanne -

It is very likely this debt has been purchased by a debt buyer. Whether or not it is on your credit report is irrelevant as far as what the collector can legally do to collect. That's because the reporting period is governed by the Fair Credit Reporting Act. But the remedies for collecting from you are a matter of state law.

It is our understanding that the statute of limitations for most consumer debts in New York is 6 years. If that's the case, and you have not made any payments in the past six year then you can send the collection agency a cease contact letter asking them not to contact you again.

Of course if this is a legitimate debt you did not pay but you can afford to do so, it's not a bad idea to pay it just to make good on the promise you made to pay the money back when you borrowed it. (That's not legal advice of course. Paying on an old debt can revive the statute of limitations.)

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