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Reset of reporting by CA if settled?


wrenchdevil
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Hello, I have an open collection account with Portfolio Recovery I need to get rid of. It does not fall off my CR's until 10/2010. If I settle this account will it reset the reporting on my CR's for another 7 years, or still fall off on the date mentioned above. It is past SOL, and I have disputed but it always comes back verified. I know paying the debt will still have a negative impact on my CR's, and I know it's a red flag to lendors seeing it as an open account.

Thanks!

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if you start paying on it you could start the clock all over again.. there is not alot you can do but it will remain on you report until 2010. The good news is that is an old debt.

do not give these bottom feeders a DIME.. they have been fined one of the highest fees in their state PA, in fact the AG of that state is watching them closely. I would let it go and let it fall off.

I can remember having a bill that was sent to them WAY out of SOL, next thing you know they are threatening to sue and told me that I agreed to a payment plan.. etc. I contacted the AG online to file a complaint, I got an APOLOGY letter from their legal dept. .. they are bottom feeders, you do not want to pursue this

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