Thank you for requesting for my services.

I checked my 3 bureau credit report and it has nothing about that loan.I had entries there as old as 1995 and nothing about a loan that was not paid.But the report also does not show a collection I fully paid more than 7 years ago so I dont know if this report can be used to prove that the debt they are talking about it not mine.

Response: The credit reports can never be complied relied on to prove or disprove a debt as they are fraught with errors and/or omissions.

will let them know that I will not pay for this loan and send them the cease and desist letter.

Response 2: That is a good way to go. Also state in the letter that your records show that the debt is not yours.

Can they just report it to the credit reporting agencies and what do I do if they do so? I dont want my credit ruined

Response 3: Yes, they can report the account to the credit reporting bureaus and if they do, you need to dispute it. The credit reporting bureaus are required by law to investigate the matter. The investigation entails sending your dispute to the reporter/the collection agency to validate the debt. If the credit reporting bureau does not hear back from the creditor/collector, the dispute would be resolved in your favor. The account may be deleted or it may reflect that it has been paid in full. The investigation can take up 45 days. Once the investigation is completed, you would receive an updated credit report to make sure that the account has actually been corrected.