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Statute of Limit. w/original creditor


MEL143
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Hello,

I have an old debt that my exhusband ran up with Verizon wireless.They have not sold it to any collection agency. In May will be the 7th year so it should be deleted per statute of limititions.However I have a couple of questions.If I decide not to pay it and let it delete it self can they put it back on my credit report later and/or sell it to a collection agency so it goes on for another 7 years? Or on the other hand lets say I decide to pay it -since its new activity will it be on there for another 7 years from the day that I pay them? Please help

So confused:confused:

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Hello,

I have an old debt that my exhusband ran up with Verizon wireless.They have not sold it to any collection agency. In May will be the 7th year so it should be deleted per statute of limititions.However I have a couple of questions.If I decide not to pay it and let it delete it self can they put it back on my credit report later and/or sell it to a collection agency so it goes on for another 7 years? Or on the other hand lets say I decide to pay it -since its new activity will it be on there for another 7 years from the day that I pay them? Please help

So confused:confused:

SOL in FL on open ended accounts 4 years. Once the reporting period has expired (not SOL) it can not be re-inserted unless you paid it and brought it back to current status. If you do nothing it will should no longer show on your report but it does not erase the debt. You still owe it and someone somewhere will buy it and try to get you to pay it. After reporting period has expired it is a moral not legal obligation

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I morally want to make the right decision by paying them but Im worried that it will restart that 7 year mark. On my credit report it says charged off but its still with Verizon so if I do pay them will it still delete in this year?

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I morally want to make the right decision by paying them but Im worried that it will restart that 7 year mark. On my credit report it says charged off but its still with Verizon so if I do pay them will it still delete in this year?

If you feel morally obligated to pay then contact Verizon and negotiate in writing a PFD. Just be careful how you word the letter as acknowledgement could reset SOL (not sure if that's the case in FL). I would search for both PFD and goodwill letters and use them as a template for you specific situation. It's great to see you doing the "right" thing instead of taking the easier softer path.

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