So I think I may have stirred up a hornets nest by calling on an apartment collection. I shared a lease with an individual back in 2009, and lost my job about half-way through our lease. I sent my letter of cancellation to get out of my lease, which was required, pay 2 more months rent, and then pay another half months rent. The day I went to go pay the last half months rent, the front office informed me that they had voided my cancellation notice as the other person on the lease, never signed the cancellation. I had informed the other person to go sign it, which I'm assuming, he never did.
Fast forward to today, and here I am. For some reason I called today, to see if I could work out a PFD, as it had worked with another creditor, and the first man I spoke with stated that if I was to pay it today, it would reflect a 0 balance. Not only that, but that it would only stay on my credit until it was originally assigned to my account. Which it would show it scheduled to go off late 2016. My exp. CR shows September 2016. The man transferred me to his boss to see if he could do something, and of course the manager was understanding at first, then informed me that with a payment it would show on my credit 7 years from now. I asked him why his colleague would tell me otherwise, and he started the "I'm not going to start the he said, she said thing." Told me to talk to a financial advisor to see what to do. I called the apartment company to see when the last date of payment was, and apparently it was February of 2010, it seems as though the other guy on the lease continued to pay until february and then just left. So that means that the SOL for this wouldn't be until 2014 February. So here I am, it seems back to square one. If I pay this in full, will this lower my score, as the collection will update to more recently? or perhaps I should settle?
