General Credit Topics

[Flagstaff]

What are my options if I have already paid a junk debt buyer? I have read conflicting statements. One side says the SOL starts over if I pay them, other people say my SOL date remains what it was. Basically, should I finish paying these people off or let it go?

[HouseHunter]

If it is over 7 1/2 years old DO NOT PAY!  You're flushing your hard earned money down the toilet.  It cannot legally be placed on your CR if it is over that age.  However, if you made a payment before the 7 1/2 years had expired, that could be a different story.  I'm not well versed in the re-aging process.  I've heard conflicting information about that myself.

[Flagstaff]

It's not past the 7.5 years, but it is well past the 3 year statute of limitations. And I've already paid some. Can I tell them that it is past the statute of limitations?

[HouseHunter]

I don't know if making a payment resets the SOL or not.  Maybe someone else could answer that for you.

[Tuscani]

What state are you in?

[Tuscani]

Paying "should" not reset the clock.. but it happens. Find out from the 3 cra's when date of first delinquency was.

Creditors will put different open date on your reports to make it look worse. Something to do with when the account was open with them. The DOFD has to stay the same, or that is reaging.

[Flagstaff]

I'm in Arizona

[Tuscani]

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Flagstaff wrote:
I'm in Arizona

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