Collection Agencies - ARC wants $3000 for a $300 debt...lmao! - Canada

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RE: ARC wants $3000 for a $300 debt...lmao!

Postby TJ.brooks » Thu Oct 11, 2012 09:38:37 AM

This old debt would have fallen off your credit report also in 2005 after being there for 6 years.
Now that it is off it can not be reposted.
At this point it is a moral issue if you wish to pay it, it will make no difference to your report either way.
But 1900 for a 300 dollar debt......not to hard a choice.
If you wish offer them 10 %....they still make money.
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RE: ARC wants $3000 for a $300 debt...lmao!

Postby ceileigh » Thu Oct 11, 2012 08:32:37 AM

It makes me seriously wonder how they were able to get my information ie. cell phone number and address. I have lived in six different places since then!

I read somewhere that an old debt cannot be put back on your credit report, is this true? Will not paying then affect my 'decent' credit that I have worked so hard to establish?
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RE: ARC wants $3000 for a $300 debt...lmao!

Postby average_joe » Wed Oct 10, 2012 09:04:20 PM


Tell ARC to go pound sand.
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RE: ARC wants $3000 for a $300 debt...lmao!

Postby TJ.brooks » Wed Oct 10, 2012 02:00:32 PM

Given that the debt was from 1999 it fell under the old 6 year statute of limitation not the current 2 yr statute.
So it expired in 2005.

Some old debt buyer has bought this account and is now trying to intimidate you in to paying something. Just laugh and hang up....eventually they will go away. No they can not sue successfully and can;t get any money by any means without a judgment...which they can;t get.
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ARC wants $3000 for a $300 debt...lmao!

Postby ceileigh » Wed Oct 10, 2012 11:39:14 AM

Hi All,
I am wondering if someone could give me some advice. Lately, I have been receiving phone calls from a company called Accounts Recovery Corp on my cell phone. Apparently, I owed $300 on an old department store credit card in 1999, and now the interest has accrued to $3000+. The store was Eaton's and they went under YEARS ago!

I had contacted a debt councellor at the time, not sure what happened, I thought it was paid, but obviously not. Nonetheless, this debt is like 13 years old (the company doesn't even exist!) and I sure am not paying it. I'm pretty sure it has served it's time on my credit report and has been long gone.

What am I supposed to do and how do I get rid of them. I don't think they can sue me or freeze my account because it's been so many years.

Also, how did they get my cell number and address?

The guy on the phone even said he would settle the $3000 for $1950...LOL!

ceileigh
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Joined: Wed Oct 10, 2012 11:28:45 AM
Province: ON


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