Collection showing up on my Credit Report after 5 years? I check my credit quarterly and I noticed tonight a collection

I check my credit quarterly and I noticed tonight a collection listed from an MCI accont dating put a bet on to 2001. The Collection agency has had the details since 2004. I contacted the collection agency and while they had my correct phone number on record, the address have the wrong city. They confirmed that they have had returned communication. So, attempts to contact me have been futile. I don't own any record of them calling me either. The debt is merely for $50! It seems to have dropped my credit in the order of 70 points.
First, can I be held accountable for this since they had the wrong address?? Also, I really enjoy no idea if this account is even valid. I might of have 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 enjoy advice as to how to get this past its sell-by date my practically spotless report. Even if I pay the $50, will it increase my score or must I attempt to bring it removed for that to happen.

dont ever pay in a situation resembling that, continue to contact the company and also continue to argue near the credit bureaues until somebody gives in and get tired of being hastled, it works trust me.

You should contact them and ask how they can take you off. That happen to me too.

It should drop off on it's own after approximately 7 years, that's assuming that they are not continuing to report you. I wouldn't pay cheque the $50 unless they agree to take the mark rotten of your credit report.

You say they had the wrong city, did they own the wrong ZIP CODE too .. the post office delivers communication using zip codes primarily, everything else secondary. It used to be that the PO forwarded letters for an entire year, but I don't see evidence of that any longer.. 6 months tops.

Yes, you are still responsible for debts even though the creditor had the wrong address.

For now, I'd sit final and see what Experian comes back with .. but even if they erase it, I don't judge you are going to get your 70 pts back.

You voice this this one mark dropped your score by 70 pts, that sounds a bit extreme. There are profoundly of other things that can affect your credit score. If you have greater than 50% of your available credit smudge exceeded, that will cause your score to drop. And not using much credit at adjectives period (no credit info) can cause it to become stagnant and not progress up OR down.

Hope that helps?

you should be ok-it will stay on your credit report for 7 years-put something in your credit report almost this-contact all 3 credit agencies

Answer:
A paid denial is just as bad as an unpaid gloomy.

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

If you should or should not decide to pay the money I would recommend first sending them a debt validation communiqu��. Send everything certified mail return receipt. They own 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 packet, make sure that they validate the debt first. After they enjoy proved that the debt is yours and proved the amount is the true amount, send them a pay for delete memorandum.

Request in that letter that after they receive recompense 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 whip a lesser amount as payment surrounded by full.
not sell the debt or the remainder of the debt.
You could also request to pay a percentage of the debt, (as feeble as it is, they probably payed less than a dollar for it).

Since you are out of the legal collecting SOL, you enjoy the legal right to not pay. You hold every right to send them a SOL letter - that simply says the debt is past the legitimate 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 correct to have ALL agreements in writing. That route if they agree, in writing, to take a portion of the debt as settlement in full etc.,etc.,etc. and you reset the SOL by paying, they cannot legally put on the market the remainder, collect the remainder or sue for it.

First of all, do NOT create payment arrangements and send them any payments. Once you do this, the 7 year cycle starts adjectives over since you 'reactivated' teh account. If your dispute with the Credit bureau does not result within a deletion; make a deal beside the Collection agency to delete for payment in full. It would be worth it to reward it if they agree to delete it from your account since it is only $50 but craft sure you get this in writing in the past sending anything. Also check your statute of limitations in your state; it may not even be collectable. Some collection agencies will attempt to collect even after teh SOL runs out since most debtors don't think to check it out. Good luck! I am currently trying to verbs up my own credit record thru disputing....long , hard process but worth it surrounded by the end.

If you do not think the debt is valid, afterwards removal is your best option. You will likely enjoy to file a second dispute. Only about a third of our clients' first disputes are successfully corrected.

The second dispute can be a formal memo that also lists carbon copy letters (cc:) on the bottom to the Federal Trade Commission and the department of your state's attorney general.

If you do not pay it, it should crash off of your credit report after 7 years. If you pay it, it will remain for another 7 years from the date you reward it. Fortunately, the negative impact that used to accompany paying on an aged account has be eliminated for the most part by credit bureaus. They realize that you should not be penalized for paying an old report, rather it should help boost your evaluation. The jury is still out on exactly what the impact of paying that old debt would be.

At least you do not hold to worry about a pronouncement for such a small debt. Be careful to avoid acknowledging ownership or authority of the debt. This article may help: