Payday Loan (Past SOL) - Question

[Spacecadet50]

Took out payday loan back in 2012 with Check City and they recently contacted me via email with a settlement offer. Now I know that it's well past SOL, but concerned they will place it on my credit report. I recently had another party place a debt well past SOL on my report (a year before it's due to be removed). Right now I am working on my credit because I want to purchase a home and worried this will affect that if I ignore.

They haven't sent any letters or correspondence other than the settlement offer via email. I am in California. Can someone suggest how I should handle this or if I should just let it go. The loan was $315 and they asked for $95.40

Thank you

[fisthardcheese]

It is extremely rare that a payday loan company would place something on your credit report.  Those companies already work on the outter edges of the law and usually only harass you by phone and mail and make a lot of noise in hopes you pay them to go away, but it is rare that they take legal action or report on credit reports.

As far as the other account that popped up, you can dispute that one with the CRAs which it appears on.  I would send a letter of dispute to the CRA stating that this account is too old to report.  Even though they may technically have a few months left, the CRA will often will remove an account that has under a year left on the 7 year reporting period if you dispute the age just to minimize any legal exposure. It might be worth a shot, anyway.

[Spacecadet50]

Okay I will take a crack at disputing that second item.

Thank you!