50 First Dates (2004)

Collection showing up on my Credit Report after 5 years?

I check my credit quarterly and I noticed tonight a collection listed from an MCI accont dating back to 2001. The Collection agency has had the account since 2004. I contacted the collection agency and while they had my correct phone number on record, the address had the wrong city. They confirmed that they have had returned mail. So, attempts to contact me have been futile. I don’t have any record of them calling me either. The debt is only for $50! It seems to have dropped my credit about 70 points.
First, can I be held accountable for this since they had the wrong address?? Also, I really have no idea if this account is even valid. I might of had MCI for long distance for a short period of time, but, this was 5 years ago. I disputed this through Experian and I am waiting for the results. Anyone have advice as to how to get this off my practically spotless report. Even if I pay the $50, will it increase my score or must I attempt to get it removed for that to happen.

A paid negative is just as bad as an unpaid negative.

An MCI account would have a statute of limitations (SOL) of 4 years (as utilities) for legally collecting the debt.

If you should or should not decide to pay the money I would recommend first sending them a debt validation letter. Send everything certified mail return receipt. They have 30+5 days to respond to your debt validation request (the 5 days is for them to mail their response to you)

If you decide to pay, make sure that they validate the debt first. After they have proved that the debt is yours and proved the amount is the true amount, send them a pay for delete letter.

Request in that letter that after they receive payment they will:
delete anything that they have placed on your reports
not continue to collect the debt or a portion of the debt if they agree to take a lesser amount as payment in full.
not sell the debt or the remainder of the debt.
You could also request to pay a percentage of the debt, (as old as it is, they probably payed less than a dollar for it).

Since you are out of the legal collecting SOL, you have the legal right to not pay. You have every right to send them a SOL letter – that basically says the debt is past the legal collecting period.

While paying the debt will NOT extend the reporting SOL on your credit reports, it may reset the collecting SOL of the debt.

Even though the debt is small, it’s always good to have ALL agreements in writing. That way if they agree, in writing, to take a portion of the debt as payment in full etc.,etc.,etc. and you reset the SOL by paying, they cannot legally sell the remainder, collect the remainder or sue for it.

50 First Dates (2004)

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