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Posted in Student Loans
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Creditunsavy

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Does telling creditor I want to pay restart statue of limitations?
I have some private federal loans that are a few years past statue of limitations and are months away from being delete from credit report. Before learning this information I spoke to the collection agency who was willing to settle for a 1/4 of what I owed. I was thrilled at the time, and said I would call back and pay that following Monday. Question is....could that have restarted statue of limitations? I never paid and I never put anything in writing.

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You will probably be ok on this, just don't communicate with them any further unless it is sending them a "cease and desist letter". If something would arise from your phone call, contact an attorney for help, but I really don't see this happening.

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