topic Re: Delinquent account in Rebuilding Your Credit

Delinquent account

cobra2004 — Fri, 12 Oct 2012 03:02:39 GMT

Hi, I currently have a delinquent account on my credit. It is from at&t. I moved back in 2006 to a place that didn't have at&t towers so I got a letter from them saying they were making me switch to another carrier. I got upset about that (I was immature back then and regret it now) so I didn't pay my last bill. My question is should I pay this now or wait until it goes off my credit?(should be another year or so I think) Thanks......

Re: Delinquent account

JustMe77 — Fri, 12 Oct 2012 03:22:30 GMT

Ethically, if you owe the money it makes sense to pay it.

I don't think paying it will change your credit score though. It's already in collections and the damage has been done.

Re: Delinquent account

Shogun — Fri, 12 Oct 2012 05:34:30 GMT

It's old, getting older. Send a PFD for whoever has it. Check the SOL for your state, most likely this account is well beyond the SOL. That may play to your advantage. Send the PFD, state in there, I found this on my CR, I understand that it is old and past the SOL for my state. I don't remember this particular account but in a gesture of GW I would like to make amends and offer payment on the basis that you return the act of GW and delete it from my CRs. Put something along the lines of that, maybe you will get lucky!

Re: Delinquent account

bettercreditguy1 — Fri, 12 Oct 2012 09:54:06 GMT

One thing to remember. As the market changes. You may move or need to change back to them or an affiliate some time. Your best bet is to take care of the debt so you never need to worry about it coming back to haunt you.

Re: Delinquent account

scarrollprint — Fri, 12 Oct 2012 17:11:27 GMT

bettercreditguy1 wrote:
One thing to remember. As the market changes. You may move or need to change back to them or an affiliate some time. Your best bet is to take care of the debt so you never need to worry about it coming back to haunt you.

Words of wisdom!

Also about SOL, make sure you check SOL in your state. Just because its off your reports does not mean its not within SOL - RI's SOL is 10 years for contractual debts - so in essence it could be off your reports for 2.5 years and they still have the right to whack you with a suit.

Granted there are other states where its only 5. So before you do ANYTHING except for PIF, make sure you find out what the SOL is.

Don't even try to settle on it for anything less than 100% unless you are for certain its 100% out of SOL. There have been people on here who tried to PFD with a lesser amount and then they got slapped with a suit for the full amount. Tred lightly till you are certain its out of SOL - don't want to wake the sleeping bear.