Incorrect collection - what do I do?

Question

I have a collection on my credit reports from National Recovery Agency for the amount of $788. It is supposedly from a company called Equitable Gas. I have never been contacted by National Recovery Agency by phone or mail.

I did have an Equitable Gas account from 1999-2003, it is now closed, and has no derogatory history. While I suppose it is possible I may have owed a balance when I closed the account, there is no possible way it was $700 (perhaps $100 at most). Furthermore the Equitable Gas record of my credit report shows no past due or charged off data.

I have disputed the collection from National Recovery several times and it continues to come back verifed. I have written to the company and requested justification of this collection - never received a response. What are my options now?

Even with this collection my credit score is fairly decent (690). Is this worth pursuing?

Answer 1

It is by law, they must provide proof that you do indeed own them money.  Regardless of your credit score, you should pursue.  If it turn out to be wrong, then have them to write to credit bearu and fix the problem.  If it turns out to be true, pay the amount due to them, so that you may fix your credit.