What to do if outside SOL?

[C1navigator]

I found out a debt that I was worried about is outside the statute of limitations. However, I have some big purchases coming up and I am afraid of this showing back up on my credit report.  Should I just settle? What do I need to do to make sure this never comes back?

[mycreditscoreisfair]

The SOL just refers to the period that you can be sued for the debt; which can very between jurisdictions. Otherwise, the debt can will added to your credit reports for up to 7.5 years (but generally only 7) after it became delinquent.

If you want to avoid the debt being added to your credit reports, then you're going to have to satisfy it by either paying in full or via a settlement. If the debt is already a collection, then make sure you attempt to get a deletion for any payment made.

If you're making a big purchase, like a home, then I would take care of it sooner rather than later. Many credit agencies seemingly look for those making big purchases and add the debt to your credit reports to essentially strong arm you into paying in order to get approval for your mortgage.