Very Old Debts

[lizgee]

I have seen my credit report several times over the past year or two, and I have quite a few old debts (car repo, 3 bad cards) that are no longer on my report. I have read that once something is off your report, it can't go back on. But, I have also read somewhere that once something's off your credit report, you should never have discussions with any collection agencies or else they can put it back on your report. Also, if you do pay off an old debt that was previously off your report, it can come back on.

I have rebuilt my credit with very hard work over the last 4 years since I bought my car (which is now paid off). I have 5 credit cards (stupid, yes) that if I charge anything on them I pay off in full every month. My problem is - I have had at least 10 calls from collection agencies in the last 6 months or so. Each time I either ignore the message they leave me, or if I do answer the phone, I deny the last 4 of my SSN and that I am THAT Liz.

The calls have been increasing in frequency. I even received 2 messages with a recorded voice stating "You are Liz the 1,000th Gee", and one message where a man (not recording) said something to the effect that by listening to the message I was admitting to be Liz Gee, which is truly the dumbest thing I have heard.

Should I be worried? Should I keep blowing these people off? In all honesty, I do plan to pay off my debts - AFTER I buy a house. I have enough money to take care of them now; I just don't want these things biting me in the arse if I pay them off and they negatively affect my currently perfect credit and I end up with a high interest rate.

[chane]

It sounds like you are on the right track. You definitely don't want to be admitting that they are your debts. But, when you are ready to pay your debts, you should try to negotiate and make them promise in writing never to report the accounts to the CRAs.

You do NOT have to admit the debts are yours...just tell them you are sick of there phone calls or whatever and tell them you are willing to pay 50% or whatever.

I would always do this in writing, never by phone. Talking to debt collectors is NEVER a good idea. Nothing good can come out of it.

If you want the calls to stop, you can also send them a Cease & Desist letter, then by law they are not allowed to call you again...and while your at it, you might as well send them a debt validation letter too. Sometimes that will stop them from trying to collect. Sometimes they will stop bothering you altogether.

Good luck. Let us know what you decide to do and how it works out for you. I'm sure others are in the same boat and would love to hear how it went for you.