Midland Funding Credit managment has a old credit card?

I recieved a letter from Midland funding credit managment in spanish didnt know what it said so I called and it was for a old target credit card I had. The sol is about to come up my last payment was July 7 2010 and is almost july 2013 which I live in Maryland and my sol is 3 years its about to take effect would I be ok to just ignore them and let my sol take effect with out getting sued? My debit was only 470.02? I also found weird after I talked to them I checked my credit report and they werent on the credit report at all according to the credit report target still has it Im confused on that too.