Collection Close To Falling Off. Do I Pay?

[rcolombe]

I have a collection that's due to fall off in april of next year. 

It's with Accelerated Financial for $7,625. The OC was Santander.

I'm currently rebuilding to begin a USDA loan process.

I have 2 other collections that I am working on and waiting on DV's. I haven't touched the Accelerated Financial one. It's so close to falling off that I don't want to "wake a sleeping giant"

Do I just leave this one alone? I definitely don't have the extra income to pfd or settle. All of my extra income is set aside for the other collections.

[RobertEG]

Credit report exclusion prevents one from becoming aware of the continued presence of unpaid, delinquent debt by no longer seeing a collection with a pending balance still under collection.  However, the debt still exists.

Prospective lendors can become aware of the unpaid debt via other means, such as asking for discosure in the app process of any unpaid delinquent debt.

Relying uon credit report exclusion to shield a debt is a risk.

[guiness56]

Eventually I would try to come to some type of settlement with it.  Is it outside your state suing SOL?

Once it is removed due to age it can never be reported again but the debt still remains due.

It would also need to be disclosed as an unpaid debt during the mortgage process.

[rcolombe]

It is outside the SoL. Maybe it's best just to get this beast of my shoulders.