AntDU
Lv 5
AntDU asked in Business & FinanceCredit · 1 decade ago

Verizon Claming a Debt from 11/00?

Can this, after so long be a negative on my credit report effecting my score? I live in New York (if it makes any difference). If I am not mistaken, a debt cannot effect a score after 7 years of the first missed payment but would like to verify.

The collection agent stated it was mine and I asked for proof of debt mailed to me. I then thanked him (I was not so pleasant with my words).

What are my options?

I am going to get copies of all my credit reports over the next couple of days to ensure accuaracy. My wife and I are looking for a home and do not need this crap ruining our chances at getting a good rate.

11 Answers

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  • John G
    Lv 4
    1 decade ago
    Favorite Answer

    As far as the Verizon Account, the negative mark should have dropped off of your credit report 7 years from the date you were first 30 days late and never brought the account current again. If you defaulted in November of 2000, it should not appear on your credit report now.

    Another thing to keep in mind is the Statute of Limitations on debt. This is how long a creditor has to take legal action against you. This varies depending on which state you live in. In New York State, the Statute of Limitations is 6 years.

    A creditor can TRY to collect money from you forever. However, they only have a limited amount of time to take action. With your debt being over 7 years old, you shouldn't have to worry about this debt affecting your credit or the creditor suing you.

  • Anonymous
    4 years ago

    No, there isn't any way to get that defaulted Verizon bill off your credit. You could try to negotiate a pay for delete -- you pay and they remove the item, but don't count on the collection agency agreeing. If you opt to settle, it still won't remove the item or improve your score. The damage is done and will remain for the balance of the 7 year reporting period. You should be able to settle this debt for 50% in a lump sum, maybe a little less. Forget payment plans. Wait till you have the funds to offer a lump sum. Get any settlement agreement in writing and do not give the collector direct access to your bank account. It sounds like you need to take a real close look at your finances and set up a budget. You seem to have maxed out credit cards which you really need to find a way to pay off.

  • Anonymous
    1 decade ago

    Deny that it is yours. Tell them all your bills to Verizon are paid and you don't owe them anything from 7 years ago. Tell them it belongs to someone else with the same name and they are just shopping it around trying to find someone to stick it on, and that this is not something you want on your credit report since it is not yours.

    I had something similar to this once, except it was AT&T, and after more or less going through the same song and dance they dropped it completely and took it off my credit report. What I also told them (and this was about the only part of what I told them that was actually the truth) was that at about that time that the debt was incurred I had looked up my listing in the phone book and found there were two other people listed with exactly the same name as me in the same county, and obviously it must have belonged to one of them because I had no other late payments on anything.

    Whether this old debt really is yours or not is immaterial. Don't admit to it and demand it be taken off your credit report. My AT&T debt was legitimate but I was not about to pay those rat-bastards because they put up an illegal cell phone tower not too far from me. So I bullied my way out of it. They don't give a damn about you or me one way or the other. We are just little people to be stepped on.

  • 1 decade ago

    Items that have been on your credit report for 7 years or longer should be deleted by the reporting agency. Sometimes however, you must engage the reporting agency by letter requesting the deletion on the aged item as per the FCRA. As for the score, it can cause harm if it is still being reported. Remember all of the info goes into calculating the middle score value, therefore you must get it removed before you do a rapid rescore for your mortgage

    Source(s): 21 years in the credit and debt management industry.
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  • 1 decade ago

    If you do pay it, it will remain on your credit for another 7 years as a paid debt. Go to www.annualcreditreport.com, order your reports and dispute it online with all 3 companies. Good luck!

  • Should be off your credit report.

    If it is not, you can tell the credit reporting agencies to remove it.

    Also, it is past the statute of limitations. By not taking action until now, they have forfeited their right to sue you.

    They can still try to collect, but they can't use the courts.

    Just send them a (registered) letter telling them not to contact you again.

    That should take care of it.

  • Beau R
    Lv 7
    1 decade ago

    If the bill is legitimate, then pay it. When it shows up on a credit report, send a letter to the reporting company, explaining that it was an oversight on your part, and that it has been remedied. You should have kno problem after that.

  • 1 decade ago

    It's been over years so they cannot touch you...write a letter to the three bureaus and they will drop it from your credit report.

  • 1 decade ago

    Is this indeed your debt or could this be a scam???

  • Anonymous
    1 decade ago

    Well, is it your debt?

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