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Debt/Creditor ??

Just got a notice in the mail from AT&T in Louisiana... addressed to my hubs... offering a settlement of a debt he apparently owed when he lived there briefly (10 yrs ago).

First we've seen of this. "Settlement" offer is almost $550.00. I thought there was a 7 or 8 yr limit on stuff like that.

Pay it or dispute it?

Answer Question
 
Laura1229

Asked by Laura1229 at 1:52 PM on Jan. 27, 2009 in Money & Work

Level 4 (56 Credits)
Answers (8)
  • It depends on where you live and I don't know how you check into that.
    Anonymous

    Answer by Anonymous at 1:53 PM on Jan. 27, 2009

  • If you know for sure he owes the money--pay it. If it is a rightful debt, the company deserves the money.
    Anonymous

    Answer by Anonymous at 1:54 PM on Jan. 27, 2009

  • I would call and dispute it and see if you can come to an even lower settlement cost. If they want money that badly then they will compromise!
    ColorMeCurvy

    Answer by ColorMeCurvy at 1:57 PM on Jan. 27, 2009

  • If hubby owes it he is required to pay it, but you can all and try to dispute it to get some of the late fees removed since you haven't been informed in years.
    xxhazeldovexx

    Answer by xxhazeldovexx at 2:05 PM on Jan. 27, 2009

  • Debt never expires, there is a time limit on how long it can stay on your credit report AFTER the debt is resolved.
    customcat2000

    Answer by customcat2000 at 2:13 PM on Jan. 27, 2009

  • Just seems kind of odd to me that after 10 yrs... *POOF*... we all of a sudden owe a boatload of money. It's not like we were hiding out or anything.

    I told him to call & request a detailed acct of exactly what every penny of that money is owed for, when it was accumulated, when the acct was opened & closed, under what name & SSN, what address, etc. AND why we're just hearing about all this now.

    We'll take it from there.
    Laura1229

    Answer by Laura1229 at 2:24 PM on Jan. 27, 2009

  • Did he have room mate(s) back then. Lots of young guys tend to move out and leave buddies with a bill to pay that is in their names..and buddies often drop the ball. If you owe it, pay it.
    GrnEyedGrandma

    Answer by GrnEyedGrandma at 2:34 PM on Jan. 27, 2009

  • Debt doesn't go away even though it's been 10 years, but it does fall off of your credit report UNLESS (here's the biggie) you contact them and they re-open it. So if it's not too late (because you said that your husband is going to call) DON'T call. Once you make contact with them, it re-opens the case. I'm not saying don't pay it, because if you owe it, you owe it, but if you have other debt that you are working through right now, pay that off first before waking up sleeping giants. However, if you are pretty much debt free, then just pay the people and be done with it.
    slw123

    Answer by slw123 at 3:36 PM on Jan. 27, 2009

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