Greetings,
I have several debts that are past the statute of limitations in my state (4 years in Texas). However, these debts still appear on my credit report and I would like to clean this up as employers in my line of work do frequently check credit as part of their hiring process.
I have several accounts in collection with junk debt buyers.
I have one account which was charged off by the original lender and is now in collection.
I have one account which is currently being held by the original lender and is in a charge off state.
Also, I have recently earned enough money to pay off all of my past due debts at once, but want to approach this carefully to avoid being ripped off and I would like to see the most favorable outcome possible as far as my credit goes.
How would you recommend tackling this?
credit
Hi..Welcome to the Forum. The debts, that are past the SOL....don't pay on. If you do, you will start the SOL over again, on these debts (it's called 're-aging' the debt). The CA's/OC's can't successfully sue you, either, because these debts are past the SOL. However.....the debts WILL stay on your credit for 7 years (and some months). ..there's nothing much you can do about these debts staying on your credit. The GOOD news, about all of this is the older your debts are (that are on your CR), the better. Keep paying on the 'active' loans,etc., that you have now. Believe it or not, your credit will get better. Hope this helped a bit.
Ya there isn't much you can do except wait until they fall off on there own. Even if you did pay on a charged off account it still would not be removed it would just be listed as paid. If they are past the SOL then do not pay on them because the SOL will restart and you will have to pay it and still have a negative listing on your report. It just takes time but it will get better.
It would be illega to re-age this debt for paying in settlement. you could PFD and remove them from your report.
Do youi know what pfd is?
Dont beleive the Hype they stay
This is SOOOO False. If you take them to bat they will remove it becasue Legally they dont own the file. You must send them a letter that does more than Validate the Debt, it must state everything you need that the law allows.. DO NOT PAY that is the only thing i saw posted that is good advice...
the thing to remember is that the 7 years of reporting is different from sol. so you can wait for them to drop off, and dispute. But if disputing doesn't work, you can pay for delete to get it off early.