I have some old credit card debt from my college days (probably going back 4 years) that I have started to receive collection notices for. I'm in a better financial situation now, by no means rich, but I would like to clear my name and not be handcuffed by my prior situation.
What's the best way for me to handle this? I got a letter offering a "one-time only" payment to a collection agency at about half off, which is very attractive, but I want to make sure that I'm both clearing my conscience and boosting my credit rating. If I can do that and pay less than I theoretically owe (considering most of it is probably finance charges), all the better.
For the record, I have a couple of open accounts that are perfectly clear. I've looked into it a little and the state I lived in when I opened the account has a six year statute of limitations.
Looking for solid advice as I'd like to buy a house in the next couple of years.
2007-03-16
00:45:26
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7 answers
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asked by
B-Lab
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in
Business & Finance
➔ Credit