Last year we received a collection letter, and thanks to everyone in this forum, I was able to file for arbitration, and we never heard from them again. It is past the SOL in MI, which is 6 years. Now we have received a letter from a debt collector (cav.......), and they are offering a 60% discount, (LOL) payable in a 1 time payment, 18 monthly payments, or 36 months. “This offer expires 2/3/18, and they are not obligated to renew the offer”. Then near the bottom of the letter, it states:
”The law limits how long you can be sued on a debt. Because of the age of your debt, we will not sue you for it, even if you make a payment or promise to make a payment. We may report information about your account to credit reporting agencies”.
The debt is from Citi, and was originally 19,xxx.xx. It also goes on to state : That this is an attempt to collect a debt......... My question is do I need to start the arbitration process again? Do I need to send a DV letter? Or do I just ignore this? I’m afraid if I ignore it, it may come back to bite me in the butt down the road. This has never shown up on the CR..
Thanks for any and all of your help/insight.