angelandmi Posted March 26, 2007 Report Share Posted March 26, 2007 Ok. I was wondering if its worse to settle with a creditor after the SOL. date or should I wait for the whole 7 years to get it off my credit report because wouldn't the 7 yrs start all over again after settlement. I was just wondering what would look better on my credit report. Thanks Ang. Link to comment Share on other sites More sharing options...
thomassl Posted March 26, 2007 Report Share Posted March 26, 2007 Ok. I was wondering if its worse to settle with a creditor after the SOL. date or should I wait for the whole 7 years to get it off my credit report because wouldn't the 7 yrs start all over again after settlement. I was just wondering what would look better on my credit report. Thanks Ang.The statue of limitations for the state of Washington is 6 yrs. for written contracts and promissory notes and 3 yrs. for oral contracts and open ended accounts. Credit card payment are open ended accounts. Washington is one of the states that if you make a payment, the SOL starts all over again! Link to comment Share on other sites More sharing options...
angelandmi Posted March 26, 2007 Author Report Share Posted March 26, 2007 I understand that totally, but if I haven't paid on it and the SOL has ran out already. Would it be stupid to do a settlement with a collection agency would i be just waiting my time and money, Or should i just stick with the SOL. Sorry. confused:confused: Link to comment Share on other sites More sharing options...
debt tired Posted March 26, 2007 Report Share Posted March 26, 2007 How old is the account? IMO, I would not pay anything. If a collection agency is bothering you, and you are 100% sure SOL has passed, send them a C&D and SOL letter. If the account is old, then you may be able to go ahead and get it off your reports before the 7 years are up. Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted March 26, 2007 Report Share Posted March 26, 2007 I have settled two and they still show unpaid.. they dont change tradelines for the most part.. and to pay it could actually hurt you in the long run Link to comment Share on other sites More sharing options...
angelandmi Posted March 27, 2007 Author Report Share Posted March 27, 2007 I'll keep that in mind! Thanks. Link to comment Share on other sites More sharing options...
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