Call from a collection agency

[planner12]

Hey guys & gals. New to the forum and I've got a question. I got a call from Stellar Recovery saying that they were collecting on a debt. The debt was from a Visa, and the balance was $3k on it. The problem is that the date on the account was from Oct. 1996. I have no recollection of this credit card, the issuer, and I know for a fact I've never had a credit card with a credit limit more than $1k before. I'm in escrow right now, I've been trying to buy a house for well over a year, and I've never seen this debt on any of my recent reports, at least since the last 3 years. I live in CA so I understand there's a SOL but I'm not sure if I'm protected since I can't really verify whether or not the debt is really mine. What are my options? I'm hoping to close in the next few weeks. Will this hinder the deal on a house? Thanks.

[breeze]

If they put it on your credit report it could hinder your closing. However, you can get a lawyer and make them buy you another house.

 

This is way too old to be reported, and way past the SOL in your state. There is a letter - referred to as the "FOAD" letter - find their address and send it to them certified, return receipt or proof of delivery.

[planner12]

If they put it on your credit report it could hinder your closing. However, you can get a lawyer and make them buy you another house.

 

This is way too old to be reported, and way past the SOL in your state. There is a letter - referred to as the "FOAD" letter - find their address and send it to them certified, return receipt or proof of delivery.

 

 

I'll definitely take this into consideration. My next question is how does this work if I've only received a call and not an official letter? Do I address this now since communication has been established? Or do I wait until I get something in the mail from them? Does my phone conversation restart the SOL? I never admitted to the collection, I told the rep that I had no idea what the collection was from and that I've never had a card with a limit anywhere near that dollar amount and that I've never seen it on my credit report and that since it's 13 years old she prob. won't see a any money from me.

[planner12]

I told the rep that I never knew of this debt and that she prob wont see any money from me considering I've never seen it on my credit report and it's old. The other thing is that it was a phone call and not a letter, so do I write an FOAD letter now since communication was established or do I wait for something in the mail? Also, does the phone call basically restart the SOL?

[breeze]

I'll definitely take this into consideration. My next question is how does this work if I've only received a call and not an official letter? Doesn't matter.

 

Do I address this now since communication has been established? Yes

 

 

Or do I wait until I get something in the mail from them? No

 

Does my phone conversation restart the SOL? No

 

 

I never admitted to the collection, I told the rep that I had no idea what the collection was from and that I've never had a card with a limit anywhere near that dollar amount and that I've never seen it on my credit report and that since it's 13 years old she prob. won't see a any money from me. This is correct, and there's nothing they can do about it, except put it on your credit report, because they know that if they do that, you cannot close without paying it. However, this would be illegal, and you could sue them. Cross your fingers, and send the FOAD letter.

[planner12]

One thing to mention is that they asked if they had the right ssn and address (they had a previous address of mine). Could that lead to a restart of the SOL or verification that the debt is indeed mine? If it's mine, it's mine and I'll deal with it if I have to, I just don't want anything messing up my chances for closing right now. Thanks.

[radi8]

Could that lead to a restart of the SOL or verification that the debt is indeed mine?

 

SOL: no. Won't re-start that.

 

Verification: possibly, if having the correct address and SS# allows them to dig up paperwork related to the account.

[breeze]

Don't talk to them. Look up their address online. If you end up talking to them, somehow, do not answer any questions. At this point, it doesn't matter if it's really yours. Don't tell them anything at all, especially don't tell them you are closing on a house. Zip your lip. If you accidentally answer the phone and it's them, make an excuse and get off the phone - Yell "oh no!!' and hang up or something like that, so they don't get mad, they just think something happened.