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Question By
marvelousOne

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Two accounts passed SOL. Pay now or wait?
So I have two account in collections that I got when I was really fiscally irresponsible. I now have my finances in order and increasing my credit score. Credit karma shows the two accounts in collections were opened 5 years and 9 months ago. The status of limitation in CA is 4 years. From what I read, the accounts in collection should still show in my credit report for a couple years after its passed the statue of limitation. So my question is. Should I pay both now and request a "pay for delete" agreement. At this point I sort of have leverage because I'm passed the statue of limitation and theres really not much they can do to get their money, so theres a high chance they will comply.
My other option is just to let it run its course and wait for it to be wiped off my account. From what I gathered it will be there for around 7 years, and the accounts were opened 5 years 9 months ago. So I have a little more than a year left until the 7 years.
So which is the best option to resolve this and fix my credit? Any advice and suggestions greatly appreciated. Thanks in advance.

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Once the SOL has passed, you cannot be sued for collection, so just wait for it to drop off your credit report.  If you were to pay it now, it would remain on your report for 7 years after the date of payment. You only have a couple more years to go right now, so waiting it out is the best idea.

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Reply by
JohnnyRain127

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Paying a collection account absolutely won't restart the 7 year reportable period (7 1/2 years technically) as matter of fact, nothing will. You should know better than that. Tax liens is 7 years from the date paid, not collections. As per FCRA 605/(a).

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