No, it's not. NOTHING resets the clock. Debts are only reportable for 7 years from the date the debt was ORIGINALLY reported by the ORIGINAL creditor.

 

IF you pay *anything* on a debt which a collector alleges you owe, you are acknowledging that you owe the *entire* debt and resetting the statue of limitations. The exception is when they take a partial payment as payment-in-full, and ONLY if you got the deal in writing before paying. This is a potential mess. It may not be reportable to a credit reporting agency, but if a judge attaches your paycheck, you are pretty well screwed unless you are judgement-proof.



http://www.ehow.com/info_7767139_mea...t-against.html

 

I'm talking only about the reporting. Obviously, you shouldn't pay anything on a debt outside the statute. Why would you? My point was, if you get a letter saying you owe a debt that's old, you don't have to worry about it being reported.

 

Hey, some people like to pay what they owe for personal ethical reasons, regardless of credit status or statue of limitations timelines.

 

Ethics? If we're talking about credit cards, they started it. We should all treat them as ethically as they treat us.

 

You're right, it's horribly wrong to lend people money on terms to which they agree and then expect to be repaid. What GALL!

 

I agreed to 7.9%.

 

This...







Most of those companies are based in Delaware, they make money on our money and they don't even pay tax on it. f*ck EM'