Bad Credit Agency

I thought I settled my credit problems with sears, now there is a collection agency involved. Am I obligated?

Well over a decade ago (probably closer to 2) I had a problem with an upaid balance and my Sears account was closed. We argued back and forth about the balance but I didn't get anything in writing and back then I wasn't checking my credit reports. I even applied for another Sears card and was approved and still have it. Yesterday, I received a collection notice on the original account which due to fees and charges, has now escalated to over three thousand dollars. This does not appear on any of the three credit reporting agencies' reports. Can this new collection agency do this since the account was closed well over ten years ago? Sounds like a last ditch scam effort to me.

Public Comments

1. just pay your debt
2. 1st you have to act coopertive by asking for a certified bill of the charges (don't be a lamb led to slaughter) That will let you see their whole game plan. Work from there
3. Don't think you are. Check out this website, and good luck!
4. I used to work for a collection agency - sounds like Sears finally just came across the account, added a bunch of BS fees, and threw it (or sold it) over to a collection agency, who also added a bunch of their own BS fees. It seems a little desperate to be making a collection attempt on something that happened over ten years ago. If you don't mind my asking, what was the original amount in dispute? I'm just curious as to how much junk they've added to it. The only problem here seems to be that the collection agency could get an attorney involved, you could get served at work, have to go to court, wages garnished, etc etc etc... But this may be to the point of exceeding your states statute of limitations though, depending on where you live. Google it and find out that information for your state.
5. No way! Do not pay these peeps a dime.Once you do,you're starting the WHOLE process over again.That collection company bought sears out on your monies owed,they will try hard to make deals.Do not contact these people at any cost.If its after 7 years,it will not go back on your credit report.
6. Sears sold your collection account to an agency. They list your debt. If they do not collect, they will eventually sell to another agency, etc, etc. Each agency may list that debt on your credit report. Most people do not know that ONLY the original debtor can list the debt on the credit bureau. You can dispute the debt stating what I just said and they will have to contacvt al the debtors that listed your debt. If they do not have your account, they will have to remove your debt.