Posted on: 03rd Jul, 2012 02:37 am
I disputed an account which was mentioned in my credit report. However, they verified it and stated that I owe $160. Now the account is past statute of limitations. What should I do now?
Hi Navvy,
If the statute of limitations gets over, then the creditor won't be able to file any lawsuit against you to recover the debts. However, he can contact you on a regular basis for the payments.
Thanks,
Jerry
If the statute of limitations gets over, then the creditor won't be able to file any lawsuit against you to recover the debts. However, he can contact you on a regular basis for the payments.
Thanks,
Jerry
Welcome Navvy,
Jerry is correct. However, I personally feel that it will be better if you could pay off the debts. This will have a positive impact on your credit. Thus, your scores will increase quickly.
Jerry is correct. However, I personally feel that it will be better if you could pay off the debts. This will have a positive impact on your credit. Thus, your scores will increase quickly.
Sfince the statute of limitation period has expired, the lender can not file lawsuits against you. But, ethical point of you, I would suggest you to pay off the debts that you had incurred.