As I always say, never! never! speak with debt collectors over the phone. Only deal in writing. When they call, I would just tell them to send it in writing and HANG UP the phone right then.
Having said that, here’s why. By them just calling you and verifying your phone number and address, they can update your DOLA date (Date of Last Activity). They can legally do that. Phone conversations can constitute activity on your account.
Also if your were to make an arrangement to make a payment (just to get them off your back) you just agreed to the alleged debt, that it is valid and this action will start the statute of limitations time frame for your state all over again. Then they can legally come after you and/or sue you. If the statute of limitations on debt in your state had already passed, you just started the clock again. The account ages again and can lower your score and stay on your reports for another seven years.
If a lender sees open collections on your reports, it matters not how little or how much that collection is. It is still a derogatory element against you (regardless if it is paid in full).
Need help with collectors? Want them to just go away? We use federal law to make them go away.
P.S. Third party debt collectors only pay pennies on the dollar for alleged debts that they purchase.
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