wrong address

[evan61]

Hi Sir
I was recently contacted by a collection agency about a purchase I did make of $32.57 on 4/06/07.
I never recieved any statements for paying this because the company had the wrong address and all the mail sent to me was being returned to them.
The finance charges and amount of my purchase now adds up to 177.54
I sent a letter disputing the amount owed and that I would be willing to pay the amount of my original purchase.This letter was sent via certified return reciept to all parties involved. I just got the last recipt from the letters a week ago.
Just last night I got another call from the collection agency for the amount owed, I told them I am disputing the amount they want.
My credit score on the credit report I got before this whole collections thing started , was VERY GOOD. I never had any trouble with any payments.
I am curious at what point will this matter ruin my credit reports
Do you think I should just pay the amount,or continue to wait it out?
If I do wait it out , what should be my next step?
I just want to get this behind me without any damaged credit report .

 

[lwpat]

Even if you pay them it will still show as a ding on your credit report. Contact the original creditor and offer a settlement based on them agreeing to remove it from your credit report. You need this is writing. Do not believe anything the collection agency tells you.

 

[cprasenjit26]

Yes I agree with Iwpat.

 

[cprasenjit26]

Yes Iwpat has rightly suggessted.