Have debt from 10yrs ago amt i was told is 3x more than my max. They are threatening me with all kinds of stuf

Question

Have not recieved anything in writing only a call and wants my bank info.

Answer 1

DO NOT GIVE THEM YOUR BANK INFORMATION.....They will be taking money out of it. If it bothers you that bad. Talk with an attorney.

Answer 2

Legally, they don't have a chance.  They may threaten to take you to court, take 1/2 the payment, or start calling your creditors/work.  They can't do anything.  Joker_32 gave you the right advice.  Don't even have a conversation with them.  Just by agreeing to pay them will get you trouble.  Tell them not to call you anymore.  They'll end up selling the debt again to another company.  Another year you'll get a call again.  They'll keep doing this forever.  After 7 years, it's off your credit report and they can't take you to court over the bad debt.  

Answer 3

Don't give them any information.  Hang up on them.  Any debt 10 years old is outside of the statute of limitations in every state.  There is nothing they can do to collect from you.  Some unscrupulous companies buy these old debts for less than 1 cent on the dollar.  Any money they can collect by lying and scaring people is all profit.  If you make a payment you reaffirm the debt and start the statute running again.  Don't pay.  Don't talk.  Don't give info.

Answer 4

must be a collection agency going thru an old list of debt not collect so trying to collect now; business is slow for them. tell them to bounce

Answer 5

I would be suspicious of this, as all debt (unless IRS) is expunged within 7 years just like a bankruptcy, UNLESS you have paid even a dollar on it within that 10 yrs. Every time you pay ANYTHING on a debt it "resets" the 7 yrs. So I would question it or ignore it.  

Answer 6

1. Do NOT speak to them on the phone. Collection agents are the lowest form of human life, even worst then telemarketers. They will lie and manipulate you on the phone.

2. DEMAND that they send you something in the mail. This will be a "dunning letter." With that you can send them a demand to validate letter.

3. Learn your rights under the FCRA, FDCPA and any state laws.

4. Check the statute of limitations in your state. You may not even have a legal obligation to repay this debt (assuming it's valid).



If you need help, you can check out the forums at CreditInfoCenter.com and CreditBoards.com. Both are FREE and loaded with helpful people who can assist you in fighting these zombie debt buyers.  

Answer 7

Need a little more info.  If they want your bank account info I am going to assume that they have a judgement against you.  That being the case they can garnishee your bank account and your wages.  It is 3x more than your max because of interest and collection fees.  

You can file bankruptcy on it and they can't get a dime.