RECEIVABLES MANAGEMENT GROUP Old Collections on my report. Eden Prarie Minnesota

I got an update that there was a new collections on my credit for $31.00. On my credit it shows, Date account Opened: 11/2013. I called this company and they told me this was due from 2006 for a Scholastic Book subscription.

Based on my findings:

The credit reporting time limit is the max amount of time credit bureaus can report delinquent debts on your credit report. For most types of accounts, it's seven years from the date of delinquency. The statute of limitations starts on the last date of activity on the account. Which was 2006. (meaning in 2014 - this should not be coming back to me right now)

Even if the statute of limitations has expired, some debt collectors will continue to attempt to collect. They're hoping you don't know about the statute of limitations and you'll pay up if they threaten you enough.

I called them, They had issues finding the correct account. Once they think they found it they told me I can pay it plus the administrator fees, totaling $51.81 to settle it and have it removed.

I am right in the process of underwriting with Wells Fargo for an FHA loan on a home, and this was not the surprise I need right now. On top of it, the information they are reporting can not be validated as mine, and is listing VERY incorrect dates.

They claim they are removing it. We'll see. Don't pay them, Verify the debt first. Once 7yrs has passed, they can not do this to you.