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Reply to "Outstanding Debts from 199...????"
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[quote=Anonymous]If you agreed to settle w/the attorney who is sending you these letters, you are only shooting your own foot because a). Like people said, you have just re-started the 7 year clock again...Tick-tock. It's just like you now will owe on a debt for until 2021 Baby. and b). Your credit will actually get WORSE because now the debt will re-appear on it. For now, the debt is no longer listed if so much time has surpassed. Sure, you could always do the "right thing" as folks here are saying by just paying the money back, but it wouldn't be the "right thing" morally, financially or even sensibly since your credit would get screwed and your original creditors wouldn't see a dime at this point since they already cut their losses years ago. The only one who would profit would be the shady attorney who bought out the creditor's debt. Get it??! I would just chalk it up to a lesson learned. Only in America, right? [/quote]
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