Recieved a letter from a collection company today that doesn't make sense. What's the righ

I know for sure I took care of all debts. I only have one %26#039;open%26#039; account and that%26#039;s my college loan. Otherwise, everything else has been paid off for years. I got a letter from Northland Group today claiming that I owe $6000 to NextCard. Northland claims to have purchased the debt from Asset Acceptance. So, I pulled up my credit report. My NextCard account was opened in 03/2000 and closed in 12/2000. Paid in full, good standing. However, it shows the %26quot;standing%26quot; of the card for the past 48 months and says good throughout all (as thuogh I%26#039;ve been using it).

I also have a new listing for Asset Acceptance that shows the account was placed in collections in 4/2004. it shows that it will be removed from my report 6/2008.

I know the account is paid for, but it%26#039;s been so long i have no records. What should I do to clear this up?

Recieved a letter from a collection company today that doesn%26#039;t make sense. What%26#039;s the right thing to do?

First the one from Asset Acceptance,They purchase old portfolios of mostly worthless charged-off accounts for pennies on the dollar. Once owned, they appear to inflate the value of the portfolio, send out dunning notices and try to collect at a ridiculous profit. It appears they have redated the debt which is illegal under RE-DATING OF THE DEBT IN VIOLATION OF

[CITE: 15USC1681s-2] 搂 623. Responsibilities of furnishers of information to consumer reporting agencies

Find out more about them at this link

http://www.budhibbs.com/debtcollectorpag... and how to defeat them.

As to the other account, closed accounts will remain on your credit report for 10 years, but it won%26#039;t lower ones score as long as it has been paid.

The credit bureaus keep your personal credit history for periods between 7 and 10 years:

Unpaid Tax Lien - Indefinitely

Chapter 7 Bankruptcies - 10 years from date filed.

Public Records - 7 years from the date of payment;

Closed or Inactive Accounts - 10 years from the date of last activity;

Derogatory Accounts - 7 years from the date of original delinquency;

I would send a certified/retrurn receipt letter requesting verification of the debts to each company.

I invite you to join the following Yahoo group %26quot;DontGetRippedOff%26quot; dedicated to helping those in financial trouble, Here you will find information to help you with debt collection agencies.

http://finance.groups.yahoo.com/group/do...

Recieved a letter from a collection company today that doesn%26#039;t make sense. What%26#039;s the right thing to do?

another %26quot;zombie%26quot; account problem---post the question again, asking about zombie credit accounts.

Even if you have paid, the collection agencies might try to collect, ruin your credit, sue you, who knows? They are betting you will do nothing and ignore your mail.

Write / call them immediately to tell them to %26quot;cease and desist%26quot; their harassment, and that you don%26#039;t agree that you owe any money. Write and date a letter, keep a copy.

I ignored stuff for a while, and now I%26#039;m being sued for a 10 year old account which I%26#039;ve alread paid thousands on.

Plenty of yahoo answerers have great sites for you to read about this on.....

Recieved a letter from a collection company today that doesn%26#039;t make sense. What%26#039;s the right thing to do?

For Heaven%26#039;s sake, don%26#039;t pay it. There%26#039;s no way they can get you for that! Give them a call, but never, never pay it.