Hi all, new to this very helpful forum seeking more knowledgable advice.
I have a debt from a school (not a student loan) that became delinquent in 2012.
I did not know about this debt until March of this year 2017 when my states taxes were garnished towards this debt. I now have the debt showing up with collection agency RMS with a first delinquent date of March 2017. I called the school to get more info and was told this was the 3rd agency the debt has been sold to and they don't know why I had never heard of it before or why it was never reported to the CRA before this year.
With the true original delinquency date of 2012, this large debt will fall off my CRs in 2019 if I understand correctly. If I agree to pay monthly payments on this debt, I will be paying long after 2019 making me believe it is not worth it to pay but just wait until it falls off.
I would like to have my reasoning confirmed if possible? Also I believe my next step would be to write letters to the CRA indicating that this debt does not have a delinquency date of 2017 but 2017 and requesting they fix that error. Is this also correct?
I called RMS and asked about setting up a payment plan but when I was told the debt would not come off until it is paid in full and I realized the dates reported were incorrect I told RMS I will call them back and started figuring out what I should do.
Any advice appreciated thanks!!