Newbie needs some help with a collection agency.

[legsy]

I have a credit card that I defaulted on YEARS ago. It has been closed for over 10 years. I just couldn't pay it at the time. They stopped contacting me, then I would get a letter from a collection agency every 6 months or so. At 1 point, I did try to work with a collection agency that needed $1300 down, and another $1300 within 60 days to "settle" the debt. I paid the first $1300, and then went to pay the second $1300 and then they said that was never the deal, I still owe the entire balance that was like $3500 at the time. From then on, I totally ignored the letters, I didn't trust them at all. So, at least 7 years since I made the $1300 payment, I am now getting letters, and a phonecall nearly daily about this same debt from Assetcare, Inc. that apparently bought my debt from the other company. I am constantly worried about it, as interest has been added, the debt is now over $4k.

I saw an article in a magazine about collection agencies and old debt. Apparently in my state, the statute of limitations on them collecting the debt runs out after 6 years from my last payment. So I am not sure if the statute of limitations starts over when the debt is sold to another company, or if I am in the clear. Not that I tried to run up my cc and not pay it back. I was a single mom trying to put myself thru college, and it just got to be too much.

So, does anyone have any experience with this? Or where should I start with contact with them? Up until now I ignored everything from them.

Thanks in advance.

[optimistic1]

I would continue to ignore them, because, even if they sue you, there case would be thrown out of court like yesterdays newspaper. They have no case, its too late for them.

[BigJohn]

Has this charge/colection activity showed up on your credit report?

Have you been in Chapter 13 bankruptcy, reside in a foreign country during this time period, or moved from one State to another?

Assetcare, Inc. can be nasty people.

[legsy]

I would continue to ignore them, because, even if they sue you, there case would be thrown out of court like yesterdays newspaper. They have no case, its too late for them.

So I don't need to have them Verify the Debt? Nor should I send a Cease & Desist Letter?

I just want the annoying calls to stop, I can deal with the random mail, but having to check the caller ID every time the phone rings makes me crazy!

[legsy]

Has this charge/colection activity showed up on your credit report?

Have you been in Chapter 13 bankruptcy, reside in a foreign country during this time period, or moved from one State to another?

Assetcare, Inc. can be nasty people.

I haven't checked my credit report in a few years, I am looking for the actually free one that's out there somewhere

I haven't been in any bankruptcy, nor any of the other things either.

[StartingOver08]

To get your free report just go to www.annualcreditreport.com
Get each of the reports separtely - don't get a merged report

[legsy]

To get your free report just go to www.annualcreditreport.com
Get each of the reports separtely - don't get a merged report

Thanks a bunch!

[legsy]

I haven't checked my credit report in a few years, I am looking for the actually free one that's out there somewhere

I haven't been in any bankruptcy, nor any of the other things either.

OK, I was able to check my Trans Union & Experian online, I have to mail in the identity form for Equifax.

Experian didn't have anything on it about this debt at all. On Trans Union it showed that I had 2 Account Review Inquiries from Asset Care Inc last month, 2/09. Can they seriously check my credit?!

I am kind of surprised that I don't have ANYTHING on my actual credit report about that bad debt.