Legal Question in Credit and Debt Law in New Jersey

Re: 6 years later collections

You have a few options.

There is a good chance that the statute of limitations either has run or will run in the near future. It sounds to me as if the six year limit applies. The time would usually begin to run when the debt was first dishonored (or went unpaid on these facts). So, if the creditor has not filed suit within six years, then they lose the right to sue. At some point thereafter the credit reporting agencies will remove the item from your credit report.

Being an honest person, however, you may want to pay the debt even though it cannot be enforced against you. In that case, you could pay as much or as little as suited you and you are very much in the driver's seat with respect to a settlement. Essentially, if the creditor does not agree to settle for what you choose to pay in exchange for a release that can immediately clear your credit report, then you hold out and pay nothing.

I hope that helps. Email or call if I can be of help to you.