Quote:
Originally Posted by Porsche-O-Phile
Don't waste your time responding. There's a wealth of information out there (try creditboards.org for one) but essentially by the time something gets to collections the damage to you has already been done and there's nothing to be gained by making additional payments. Perversely, doing the "right" thing and seeking to pay off the debt only hurts you more since the payment can show up as "new activity" on the account and reset the seven year clock for having it expunged from your credit report. Stupid disincentivization of doing the proper thing, but that's our system.
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Yup.
Had an old phone bill collection pop up.
Did not recognize the number.
My wife says "that was your phone number at your Mom's house in XXXX"
Mom had sold that house nearly 20 years earlier and I had not lived there since college.
Checked my credit report, nope, not there.
Called phone company, they had left the line active for a couple of years after mom had sold the house and eventually charged it off. Woman at phone company tells me that they won't see a penny of what's collected and if I pay it then it will likely pop up on my report. She suggested I ignore it.
I took her advice.