EVERETT, Wash.- Kathy Alexander's recent trip to the mailbox revealed something that almost knocked her over - a ten-year-old bill.
It was a collections notice from an old Exxon credit card account she closed a decade ago.
So I asked Kathy what she thought after opening the bill?
"They were nuts," was her simple answer.
The letter said Kathy owed $345.64.
But for just $69, the whole thing would go away.
I looked through Kathy's credit report and there wasn't one mention about a delinquent Exxon account.
The collections agency added that they'd leave her alone if she could provide proof from 10 years ago that the account was cleared.
But who would have that lying around?
In most cases, the IRS requires you to keep records for seven years.
I found out G-E Moneybank issued the Exxon card when Kathy was a customer. And even though she didn't have any record that the card was paid off, they told her to forget it.
Remember, a collection agency needs to provide proof in writing that you actually owe the debt.
Bottom line: No proof, no pay.
