Delete collection due to statue of limitation

[paturner]

Still kinda of new to this board and I've been doing a lot some reading about the "statute of limitation" issue. I'm wondering if you  have a medical collection on your report that's unpaid if it would be possible to use the "statute of limitation" issue to leverage a PFD letter . Thinking of collection that need to get rid of that's over 7yrs old . It's not being collected but it's a little more than I can afford to pay at this time and just wondering about contacting CA and offering settlement (maybe 1/2 of what's owed) based on fact that collection is so old. Anyone think this will work?

[Shane1]

If it's over 7 years old, it should be very close to falling off your report anyway unless it is being erroneously reported past the SOL reporting date. You can either dispute as obsolete or wait for it to fall off on its own. No reason to pay unless you're working on getting a mortgage or you feel some moral obligation to pay.

[MarineVietVet]

It looks like there is some confusion between SOL and CRTP.

The SOL is set by individual state law and determines how long a creditor can bring a lawsuit for a debt. The CRTP (Credit Reporting Time Period) determines how long a derogatory item can be shown on your credit reports. The two are separate issues.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

[RobertEG]

I think the point being asked is if being beyond the SOL will add leverage to their possiblle acceptance of a PFD offer.

It most likely will. It takes the threat of legal action out of their equation.

But. as has been stated, make SURE you KNOW the actual DOFD on the OC account before you make any assumptions regarding expiration of the collection from credit reporting before you consider even making a PFD offer.  As long as you understand the distinction between 7 years from collection reporting, and 7 years from the DOFD on the OC account that preceded the collection, then you know the 7 years, plus 6-months, date after which you no longer have to be concerned with any request for CR deletion.  I think you understand this, but many dont.