Re: Paying off old collection
10-06-2012 01:27 PM
Paying on them will not reset your reporting horizon, but it WILL reset the statute of limitations clock with regard to potential litigation.
My best advice would be to delay the home purchase until they age off here shortly, but if you have to buy now and your lender is demanding that they be satisfied, then pay them in full or settle them and get a letter to that effect from each collector.
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