Valued Contributor
chasmith
Posts: 1,062
Registered: ‎05-26-2010
Re: Sad Day :(

I agree with Scott that if you are sure it's of SOL you could try to negotiate a small settlement.  Try to get a PFD or a non-disclosure around the entire debt (with a non-disclosure they cannot verify when you dispute).

 

I'm not sure we as borrowers can make a full legal determination about stale debt and reportability on a mortgage application.  If the debt is disputed (and a dispute about amount or counterclaims for violations not practical to bring suit for would come in here), and no longer legally enforceable (out of SOL) I'm not sure most borrowers (myself included) would report it on a mortgage application.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
Goal Score: EQ 740 EX 740 TU 740
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