I received a letter from Merchants Credit Guide informing me they were attempting to collect a past due balance on a Sears Account. The letter detailed three offers to resolve the debt, pay 50% now, pay 70% in three equal consecutive payments or pay a mutually agreed monthly amount and pay it in full.
My issues with this are that this credit card debt was incured about 20 years ago and had been settled over 15 years ago (ie: charged off). On top of that the state I lived in then (MA) and now (KS) have statues of limitations regarding debt collection and both have long since passed (MA = 6 years, KS = 3 or 5 years).
I see this as an attempt to defraud and after reading the Federal Trade Commissions website (www.ftc.gov) have decided to write an email to the Better Business Bureau informing them of the practice this company is engaging in.
I just recently applied for a mortgage and there was no notation of this debt on my credit report. It's my guess they are buying lists of charged off debts in an attempt to make some money by defrauding and bullying, sometimes even harrassing consumers (the man I spoke to on the phone kept yelling at me to "pay your bill, you know what you owe, pay your bill" until I pissed him off by repeating my question over and over and he got his supervisor). I was accused of wasting his time, as if my time is somehow less valuable than his.
Credit Info Center
Federal Trade Commission http://www.ftc.gov