Please help! Merchants Credit Guide Co. Has been calling a family member looking for me for quite some time. Ken Hughes left a message that it was of the utmost importance that I return the call. Upon returning the call I find that they are trying to collect on an old debt from 15 years ago from a previous marriage. I have never been contacted until recently. They go on to tell me that if I don't agree on the settlement amount of $2700 then they will go after me for over $11,000. The original debt was only $4400. I was scared so gave them information over the phone to draft my acct. After researching I found that the statute of limitations has ran out and they can't collect.
I spoke with the Mgr., Steve Kennedy today and explained that I knew the limitations had ran out and he agreed that they would not draft my account for any payment amounts of than the intial $1000. He said they were unable to stop it. I called my bank and was told as long as it doesn't come through before Monday that it can be stopped. What can I do if they do draft my account??? I don't have the money!
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