Monacch Recovery Academy cvollection services This scum bag collector calling me being very nasty saying I owe this debt to House hold fiance. I called House hold and there is no record that I owe this debt. When this scum named Ada Peterson call Philiadelpiia, Pennsylvania

Steph,

That debt WAS legally UNCOLLECTABLE and also could not be reported on your credit report.

HOWEVER, if you made ANY payment at all, or even an agreement to pay, you "re-affirmed" the debt and re-started the clock on the statute of limitations.

And, any payment you make can be reported to the credit bureaus, because technically they can only report a negative for 7 years from the date of the 1st major delinquency, or last transaction.

They would now be reporting your payment history because your "last transaction" was re-affirming the debt. However, this may be listed on your credit report as a "paid collection" account.

Knowledge is power. Get some.

FYI...There is no such thing under the law as a "stop contact" letter. When writing "legal" letters, proper verbiage is essential. The EXACT wording of the FDCPA is "CEASE COMMUNICATIONS REQUEST". You should start using that wording in your posts here as well.

.I have gotted more calls from this scum collection agency but I did not answer the phone. After a while they stopped calling my house.

Do not pay a dollar and report them - great advice. I would also suggest writing up a more detailed report and send to this government agency:

http://www.ftc.gov/reports/index.htm

Thank you for the advise I also learned that they used to be accademy collection services I have read aot of complaints about them in budhibbs.

The debt is over 10 years old

- Whether or not you know it that is an important piece of information, and probably would have been good to include in your original report.

I had to post because it sounds from your last update that you may be opening yourself up to MAJOR issues.

First of all there is something known as the Statute of Limitations.  This is the legal time period a creditor has to file suit against you.  If you are outside the Statute of Limitations(SOL), they can not prevail in a suit.  In other words you no longer "legally" owe the money.  Depending on the type of debt and your state the SOL is anywhere from 2-15 years.  If this is a credit card most are in the 3-5 year range.  So if this is a credit card debt and 10 years old you are well beyond the SOL.  But this is the line that quite frankly worries me, as it is a mis-conception with many people.

  I wll have my bank do a bill pay to them even if I pay $10 or $20 a month I am making an effort to pay something.

- One item that can reset the SOL is making a payment..even if it was only $1.  The SOL would then be reset to the date of this payment so they would get another x number of years to sue you for the FULL amount.  So if you have not made a payment..DO NOT make any payments UNTIL you have verified if you are still in the SOL or not.  If you happen to have already made a payment, then you may have opened yourself up to owing the entire $2700, and may find a lawsuit coming your way very shortly.

Second, if you owe over $2700, how much good is $20 a month going to do?  Really, that would take over 11 years to pay off, not even accounting for the additional interest that they are going to charge.   Before you pay them a single dime you MUST have an agreement in writing that shows what you are paying, and that it will actually satisfy the debt.

There is another amount of time you need to be aware of.  This is the amount of time a negative item can be reported on your credit report.  For most debts this is 7 years.  If this is a 10 year old debt, it CAN NOT be reported.  Even if you happen to pay on it today.  This is because this time can not be reset.  If they attempted to put it on your credit report by "re-aging" the debt, they have violated the Fair Credit Reporting Act(FCRA) and you can go after them for that.

I would highly suggest before you do anything else you read up on the Fair Debt Collection Practices Act(FDCPA), the Fair Credit Reporting Act(FCRA), the Statute of Limitations for Debt.  Also, check out sites like http://www.creditboards.com that has a very good forum section where you can ask specific questions.

The debt is over 10 years old it will get paid but I will make my checks out to the original creditor not the collection agency. I wll have my bank do a bill pay to them even if I pay $10 or $20 a month I am making an effort to pay something.

As I said in previus reports I will not give a collection agency my bank account # I know not to do that.

Thats fine, have fun talking to the next collection agency that gets it.  And dont complain when you get turned town trying to buy a house.

Thank you for the advise but I am going to stay off the phone and no longer talk to this collection agency.

I am going to send a stop contact letter certified.

Just for the record, of course household finance told you they have no record of the bill, it was sent to a collection agency.

Once it is "written off" to a collection agency the original creditor will have nothing on there books, they nothing to do with it anymore.

Also, it is illegal for a collection agent to call you right back after you hang up on them.  If this is indeed what happened, take the advise of the last post and record the calls, if they break the law in that manner, they probably will again. That is-- if what you say is true.

You have the right to record any conversation as long as you let them know your recording it. you do this by haveing someone in the background as you leaving your phone message,saying you call may be monitered or recorded, as long as the person on the other end hears that message, with your friend saying this the caller would not be so abusive, and if he does you would be entitled to compensation under the law. so have a feild day its your turn now. Good luck