What shoud i do?

[QueenJ]

Ok I have two accounts in collections i have been paying them little by little.  One of them i have about $400 left the other about $4,000 left but both will fall off my report in 2 months or less.  So if i settle the accounts would it be that big of a hit since they are about to fall off my report? Or should i keep paying them even after they fall off my report.

Thanks

[gdale6]

---

@QueenJ wrote:

Ok I have two accounts in collections i have been paying them little by little.  One of them i have about $400 left the other about $4,000 left but both will fall off my report in 2 months or less.  So if i settle the accounts would it be that big of a hit since they are about to fall off my report? Or should i keep paying them even after they fall off my report.

Thanks

---

Well since you have been paying them I would not just stop as you most likely have restarted the SOL and they could sue to collect. I would approach them with a bulk settlement offer or continue with the agreement you made with them. You can check your states statutes on what resets the SOL.

[QueenJ]

Ok so if i settle its not going to hurt me anymore than it would if i paid it off as this point the account is pretty bad correct?

JJ

@gdale6 wrote:

---

@QueenJ wrote:

Ok I have two accounts in collections i have been paying them little by little.  One of them i have about $400 left the other about $4,000 left but both will fall off my report in 2 months or less.  So if i settle the accounts would it be that big of a hit since they are about to fall off my report? Or should i keep paying them even after they fall off my report.

Thanks

---

Well since you have been paying them I would not just stop as you most likely have restarted the SOL and they could sue to collect. I would approach them with a bulk settlement offer or continue with the agreement you made with them. You can check your states statutes on what resets the SOL.

---

[gdale6]

---

@QueenJ wrote:

Ok so if i settle its not going to hurt me anymore than it would if i paid it off as this point the account is pretty bad correct?

JJ

@gdale6 wrote:

---

@QueenJ wrote:

Ok I have two accounts in collections i have been paying them little by little.  One of them i have about $400 left the other about $4,000 left but both will fall off my report in 2 months or less.  So if i settle the accounts would it be that big of a hit since they are about to fall off my report? Or should i keep paying them even after they fall off my report.

Thanks

---

Well since you have been paying them I would not just stop as you most likely have restarted the SOL and they could sue to collect. I would approach them with a bulk settlement offer or continue with the agreement you made with them. You can check your states statutes on what resets the SOL.

---

---

If its dropping off in 2 months then a settlement now doesnt really make that much of a difference. If it had years to run then it might be best to PIF as it is fodder for actual underwriters eyes to see a settlement. You might even be able to get an early exclusion of those off your CRs.

[wa3more]

some states the SOL is not reset with payment - just see if your state is one of them.

[Anonymous]

Two months left for them to drop off then just offer a settlement if you can. Might take a small hit on the points, but you will have them deleted in two months anyway. Also, if you settle them you might even be able to get an E/E and cut out the two months.