amesa wrote:
I've contacted all the creditors and they have all agreed to take payments. My question is if I do start making payments would the clock re-start for an additional seven years? I'm applying for a job in law enforcement so they require all collections and charge offs be taken care of people they will hire you. Does anyone have any suggestions are ideas?
Payment generally resets SOL, but with COs and COLLs nothing resets the CRTP.
How soon are you applying for your LE job, how soon would they be looking at your CRs, and how soon do you plan on having them PIF?
I ask because even though the creditors have agreed to take payments, the chargeoff status would still be reported even AFTER you PIF the debts. While you're paying, they will still report as unpaid chargeoffs, although they might add something to show the account is being paid per an agreement after chargeoff. The balances will update, but in the eyes of your prospective employer they will still be unpaid.
Do NOT tell them about the job, or they'll demand full payment and not give an inch.
Did you get a PFD out of your creditors?
