When an item on your credit report is removed b/c of the statue of limitation is up, do you still havw to pay?

Deal Score0

and does it still affect your overall credit score? I recieve a settlement letter for something that no longer on my credit report…should I pay it, or focus on what is there, which is plenty. Also I heard that once you pay on something, it starts the process all over as it relates on starting from the beginning on your report ( if that makes any sense…)

  1. Reply
    July 21, 2011 at 2:32 am

    Ignore your notice.

    If it is no longer on your credit report it cannot affect your credit score.

    Here is the reason so many people get these notices. The credit collection companies sell their uncollectible debts to other agencies. For pennies on the dollar. Example: your old debt is for $ 4000, the company that is contacting you now paid a few dollars for your info (and thousands of others in the same boat). So, law of averages is in play. If this firm gets one idiot to pay they break even. Two idiots and they start to turn a profit.

    Throw the notice away and ignore it. It is a done deal.

  2. Reply
    July 21, 2011 at 3:23 am

    It is no longer on your credit report…. BUT then can still sue you.

    You promised to pay, so you SHOULD PAY, and they CAN still make you pay by order of a judge and wage garnishments.

  3. Reply
    Ask M
    July 21, 2011 at 3:49 am

    make them validate the debt


  4. Reply
    July 21, 2011 at 4:00 am

    There are two different time tables in place the first is the 7-years before derogatory accounts drop off your credit. Once this happens thae accounts no longer effect your score.

    The second is the statute of limitations. I posted a link at the bottom so you can look up your State.

    If the S.O.L. has indeed passed, do not contact them do not pay them even $ 1.00 or the S.O.L. will start again.

    If this date has passed, they can still take you to court but all you have to do is show up and show the court that the S.O.L. has expired and the case will be dismissed.


  5. Reply
    July 21, 2011 at 4:58 am

    If it no longer shows on your credit don’t pay it and don’t call the company…If u pay it you will be restarting the report date on that debt and that can drop your credit score…Ignore the notice..

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