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Better to Settle or Ignore 3yr old debt?


debtvoodoo
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My debt (5K with Wachovia) is beyond 3yrs, SOL I believe, in my state, WA. Should I settle for 2.5K or ignore it? I don't want to get sued and have to go to court....which, in reading these postings has happened well after SOLs.

Of couse they are giving me a week to decide--I called them to try to settle up (hopefully not interfering w/SOL).

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You have some leverage now. Maybe you can settle for less if you let them know that the debt is beyond the SOL and what's the benefit to you in paying or maybe you could offer to settle for more if they will delete all the negative info from your credit reports. This is just some ideas, not sure if its good advice, so ask someone else here if it is, if its something you would consider.

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  • 2 weeks later...
My debt (5K with Wachovia) is beyond 3yrs, SOL I believe, in my state, WA. Should I settle for 2.5K or ignore it? I don't want to get sued and have to go to court....which, in reading these postings has happened well after SOLs.

Of couse they are giving me a week to decide--I called them to try to settle up (hopefully not interfering w/SOL).

Is Wachovia chasing you? Has a CA been in contact? Remember to DV/CD the CA's... you never had an agreement with them. And divemedic is right... beyond SOL they are powerless.

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