Wake up the Sleeping Giant: Old Collection and Mortgage

[Oyiwaa]

Hello,

Torres Corp contacted me back in 2006 for a utility account that was closed in 2005.  The total was close to $1,000.  The ex was responsible for the bill at that time ... still claims it was paid. 

However, I have not heard of them since and I have subsequently moved from PA to NJ. Neither have I heard of the OC.

It appears the SOL is over for both states now.

However, I am about to apply for a mortgage, and I don't want any 'skeletons' to to creep out of the closet to bite me in the process, especially given that the EX is still unable to locate the receipts.

So should I contact the OC and offer a settlement.... wouldn't that reset the SOL or does the fact that its out of the SOL discourage them from attempting to collect?

cheers, Oyiwaa.

[guiness56]

The only thing the SOL being expired does is keep them from possibly filing suit.  They can attempt to collect forever.

A settlement couldn't restart anything because the debt would be paid and nothing to restart.

During the mortgage process you will have to disclose unpaid debt. 

It wouldn't hurt to call the OC and ask.  If they do the debt is settled and gone, not to be worried about again.