| Companies trying to collect old debt |
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Safora
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| Companies trying to collect old debt |
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Be careful if you have old debt. There are companies that are trying to collect on debt that has fallen off your credit report. If you pay, it can effect your score negatively.
http://moneycentral.msn.com/content/Savinganddebt/Managedebt/P74812.asp
"True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself." ~Henry Miller
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Tue Apr 25, 2006 2:13 pm |
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rockhound
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| pay debt? |
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The impression that statement gives is that you should not pay your existing, legitimate debts  Personally, at least as applied to regular people seeking financial advice because they are in deep debt, I would feel that a person needs to have "clean hands" in order to have an honest assessment of their situation and to make an honest effort to reclaim their dignity in becoming debt free. Somehow, the idea of not paying your debts because it could affect your credit score doesn't seem honest or clean 
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Wed Apr 26, 2006 3:02 am |
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Rolo
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| Re: pay debt? |
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quote:
Originally posted by rockhound
The impression that statement gives is that you should not pay your existing, legitimate debts
How--when it states 'debts that have fallen off of your credit report' [7 years]?
Does the idea of debt collectors' breaking the law to help you reclaim your dignity seem better?
"Expect me when you see me."
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Wed Apr 26, 2006 3:48 am |
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Kiaser
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Credit companies are required within 30 days to get a resolution or response to your claim against a negative item on your credit.
Having multiple friends who work at Experian, I can tell you that this 30 day limit is rarely met as they are very backed up. If they can't get it resolved in 30 days, they HAVE to remove the negative item.
But, if you do not pay the balance on the negative item, they will dedicate more priority towards researching your case.
The easiest way to get something removed, even if it was your fault, is to write a complete explanation and point out you couldn't pay, the charge wasn't fair, you were never notified of the charge, etc but ONLY after you've paid the debt to the reporting creditor. Get a letter from the creditor saying you've paid the debt in full (and if they agree you can also get a letter stating you were not treated fairly in the first place). Send this letter in with your case to the credit companies and it's a very high chance that it will be taken off.
And for negative items falling off your credit report after seven years, it's complete BS. All they have to do is add a dollar to your balance for some stupid fee and it'll reappear on your credit for another seven years. It's a loophole creditors can use to screw you for the rest of your life.
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Wed Apr 26, 2006 2:52 pm |
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rockhound
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| Re: pay debt? |
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quote:
Originally posted by Rolo
How--when it states 'debts that have fallen off of your credit report' [7 years]?
Does the idea of debt collectors' breaking the law to help you reclaim your dignity seem better?
Just because it has fallen off your credit report means that you're no longer obligated to pay it? I'm not going for that one. You have to worry about yourself doing the right thing, not about everybody else doing the wrong thing.
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Wed Apr 26, 2006 8:27 pm |
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Rolo
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| Re: pay debt? |
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quote:
Originally posted by rockhound
Just because it has fallen off your credit report means that you're no longer obligated to pay it?
I never said that and nobody else has.
Obviously you did not read the posted article for which this thread is about: the person paying is not paying the old debt to the creditor; they are paying a collection agency who is breaking the law.
"Expect me when you see me."
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Thu Apr 27, 2006 1:57 am |
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rockhound
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| Re: pay debt? |
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quote:
Originally posted by Rolo
quote:
Originally posted by rockhound
Just because it has fallen off your credit report means that you're no longer obligated to pay it?
I never said that and nobody else has.
Obviously you did not read the posted article for which this thread is about: the person paying is not paying the old debt to the creditor; they are paying a collection agency who is breaking the law.
Well, you go ahead and spin it any way you like. I still say that it sounds like shady advice, and obviously I'm not alone. Maybe the original post should have been a little more clear, becasue the suggestion is definitely there that this is a justification to not pay your debts. The original post never mentioned a thing about illegal tactics of debt collection agencies. I would think that if you are dispensing financial advice, you would be a little more careful and avoid exactly the kind of blunder that you have created here.
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Thu Apr 27, 2006 2:52 am |
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Rolo
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| Re: pay debt? |
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quote:
Originally posted by rockhound
Well, you go ahead and spin it any way you like.
You are the only spinner here...you added to the poster's and article's content. Your inferring it doesn't mean the poster implied it.
quote:
Originally posted by rockhound
Maybe the original post should have been a little more clear
By pasting the whole article instead of linkig to it?
quote:
Originally posted by rockhound
Maybe the original post should have been a little more clear, becasue the suggestion is definitely there that this is a justification to not pay your debts.
All it said was "Be careful if you have old debt." What post are you reading?
quote:
Originally posted by rockhound
The original post never mentioned a thing about illegal tactics of debt collection agencies.
No, but the link did. Should the poster have re-written the article for people too lazy or inept to click on the link before making rash judgements?
quote:
Originally posted by rockhound
I would think that if you are dispensing financial advice, you would be a little more careful and avoid exactly the kind of blunder that you have created here.
What blunder would that be, exactly? Poor readership?
"Expect me when you see me."
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Thu Apr 27, 2006 12:22 pm |
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rockhound
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| bottom line |
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The bottom line is that the original post was poorly written and implied some unsavoury things, whether that was the intention or not. Why you take it upon yourself to waste time arguing to defend such a poor post is your own affair. The fact that you now take pains to split hairs over the content, in order to minimize the original statement (If you pay your bills, it can affect your score negatively) is simply an indication that you recognize this. Of course now that you have dug yourself in so deep, you really can't admit this. Obviously you have to have the last word in every exchange, so be my quest. Make yourself feel better by posting a really stinging rebuttal. I won't be bothering to read it. I'm through wasting my time on this thread. It should be deleted.
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Thu Apr 27, 2006 10:36 pm |
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coaster
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Now, now, folks, let's keep the emotions in check. If this deteriorates into name-calling it won't be deleted, but it will be locked. Thanks.....
~Tim~
Eye Candy : Why Whimsy
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Thu Apr 27, 2006 11:02 pm |
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Rolo
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| Re: bottom line |
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quote:
Originally posted by rockhound
The bottom line is that the original post was poorly written and implied some unsavoury things,
Like I said: Just because you inferred it, doesn't mean it was implied.
Henceforth, you should read the post and relevant links before passing judgement on the poster.
"Expect me when you see me."
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Fri Apr 28, 2006 12:44 am |
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rockhound
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| Re: bottom line |
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quote:
Originally posted by Rolo
quote:
Originally posted by rockhound
The bottom line is that the original post was poorly written and implied some unsavoury things,
Like I said: Just because you inferred it, doesn't mean it was implied.
Henceforth, you should read the post and relevant links before passing judgement on the poster.
Thanks for the valuable advice. And henceforth, perhaps your wife will be a little more careful about what she writes so that you won't be forced to attack people in order to defend her statements. Good luck to the both of you.
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Fri Apr 28, 2006 2:55 pm |
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Rolo
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| Re: bottom line |
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quote:
Originally posted by rockhound
Good luck to the both of you.
Obviously you are not going to admit to your mistake, but does this mean you are going to STFU now?
Piece of advice: Arguing with someone who has first-hand knowledge when you do not is generally not a good idea. 
"Expect me when you see me."
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Fri Apr 28, 2006 4:56 pm |
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Safora
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| Re: pay debt? |
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LMAO!  I post a link to a harmless article about old debt and I come back to the board after a few days and rockhound is about to have an aneurism  ....
Sooo rockhound...what is your emotional involvement in this issue anyway?
quote:
Originally posted by rockhound
The impression that statement gives is that you should not pay your existing, legitimate debts
It seems you read more into my post than was there. I posted a link and let people decide for themselves what they think about the information. It was a short article, I did not feel the need to write a "book report" on it.
quote:
Originally posted by rockhound
Just because it has fallen off your credit report means that you're no longer obligated to pay it? I'm not going for that one. You have to worry about yourself doing the right thing, not about everybody else doing the wrong thing.
I am not worried about anybody doing anything. I don't go around judging other people and attacking them for some perceived version of right and wrong.
Since you seem to be so concerned with my opinion on this issue...
I believe you are still indebted, however that doesn't mean I would be willing to ruin my credit to pay back something from that long ago. If the law says that the debt goes off my credit report after 7 years than so be it. If you would still pay it and in turn possibly damage your credit, then maybe you are a better person than I am. Good for you! Want a cookie? Even God says to forgive others debts after 7 years. But I suppose you'd argue with Him too.
( At the end of every seven years you must cancel debts. This is how it is to be done: Every creditor shall cancel the loan he has made to his fellow Israelite. He shall not require payment from his fellow Israelite or brother, because the LORD's time for canceling debts has been proclaimed. ~Deuteronomy 15:1-2)
Besides once a company charges-off a debt it is often impossible to pay the company you owe. They insist you go through the creditors.
quote:
Originally posted by rockhound
I still say that it sounds like shady advice, and obviously I'm not alone.
Who else here is agreeing with you? 
quote:
Originally posted by rockhound
I would think that if you are dispensing financial advice, you would be a little more careful and avoid exactly the kind of blunder that you have created here.
I'm not dispensing financial advice. The author of the article was giving financial advice. I was only providing a means to read said advice.
And rockhound, if you would read the link before posting maybe you would have avoided this little blunder of yours.
quote:
Originally posted by rockhound
The bottom line is that the original post was poorly written and implied some unsavoury things, whether that was the intention or not. Why you take it upon yourself to waste time arguing to defend such a poor post is your own affair.
So now we are critiquing each others writing style?
I really don't see why you are attacking my post. I never gave advice on whether people should pay back old debts or not. What people do is their own affair. I didn't imply anything.
I do feel that people should know that if a collection agency starts harassing them, that in this case, by complying they may cause themselves more harm than good. They should also know that what these companies are doing is illegal and that they don't have to talk to them. I believe in sharing information. What people do with that information is up to them.
quote:
Originally posted by rockhound
Make yourself feel better by posting a really stinging rebuttal. I won't be bothering to read it. I'm through wasting my time on this thread. It should be deleted.
Hmmmm interesting how you said you wouldn't be back and then came right back and posted. I guess lying isn't against your moral code then? 
quote:
Originally posted by rockhound
perhaps your wife will be a little more careful about what she writes so that you won't be forced to attack people in order to defend her statements.
Have you not noticed that my husband never just say things in order to play "nice?" I guarantee he wouldn't defend anything I said if he didn't believe he was correct in defending it.
Also, I am not the type to refrain from posting something because it might make someone upset. You do not have to read my posts if they bother you.
"True strength lies in submission which permits one to dedicate his life, through devotion, to something beyond himself." ~Henry Miller
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Sat Apr 29, 2006 2:17 am |
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bong12187
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| Re: pay debt? |
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If you didn't pay your debt and the creditor reported you to the credit bureau and it affected your FICO score for 7 years then that is your punishment for not paying off the debt. Now, once its dropped off from the credit bureau then you have repaid your debt. This is the same thing when people goes into bankruptcy. Their credit reports are stained for many years but it is wiped clean after several years.
I personally wouldn't pay for something that was dropped off from my credit report.
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Sun May 07, 2006 12:50 am |
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