Don't pay it, and tell them to stop calling you. An old phone bill from 2003 is certainly barred by the Statute of Limitations, and cannot be collected.
No. The longest possible statute of limitations would be 10 years. It cannot be on your credit and it is not enforceable in court. If you are contacted by a debt collector, send a letter stating that you dispute whether the debt was yours (long distance calls you did not make) and it is outside the statute, so you refuse to pay. If there are further contacts, file suit.
No, the statute of limitations has expired. They cannot sue you. Don't let them coax you into reaffirming the debt by making a payment. Making a payment can result in reaffirming the debt which in turn would make you liable again.
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