Legal Question in Credit and Debt Law in Texas
old debt but could be paid now
I can afford to make up some bad debt, over 7 years, still recieving calls. However, in what way would this remedy my credit report? On principle I don't see paying a 3rd party, that does not seem to provide a correct solution, unless my report is truly restored to a good number. I am married to someone with perfect credit and worry about my past affecting his current rating. Thanks.
1 Answer from Attorneys
Re: old debt but could be paid now
There is no real point (besides a moral one) in paying debt that is past the statute of limitations. (unless it is still showing up on your credit report). With old debt, the companies usually accept far less than the original debt. Most will negotiate the amount with you -- i.e. pay more than they were willing to settle for, in exchange for removing your negative report. (i.e. paid in full equals a satisfactory paid in full report).Make sure you get it in writing.
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