First time attempting to settle a debt.

[Anonymous]

I have an old credit card debt with Chase. DoFD is 2010 and it's showing as coming off my report in July of 2017. I live in California and the SOL is 4 years, this debt should be uncollectible. 

My question is what is the action I should take to most quickly get the collection removed from my reports while saving myself the most money. I'm self employed with two small children so I can't afford to PIF but this debt has been hanging over my head for too long and I'd like to start getting in shape to pursue a mortgage loan. 

Thanks for your advice!

[RobertEG]

Your state SOL for initiating civil action is unrealted to credti report exclusion.

Information does not become excluded from your credit report based on SOL on the debt.

A DOFD of 2010 would result in the exclusion of any charge-off or collection no later than 7 years plus 180 days from the month/year of the DOFD.

Any monthly delinquencies would have an exclusion date of no later than 7 years from their individual dates of occurence.

To obtain removal prior to those dates, you would have to obtain voluntary deletion by the creditor.

The common manner is to make them an offer to pay the debt, in full or as a settlement for less, in exchange for their deletion of the negative reporing.

[Anonymous]

I've read many times on here that chase won't do a pfd. I'm going to contact them real soon to try for a settlement on two cards charged off in 2011. I'll post back on what percentage they accepted. Mine are outside sol. So hopefully at least as low as 40%.