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ACBlak

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Would paying a time barred debt improve my score or drop it?
I have an outstanding debt scheduled to drop off my report in September. Would paying the debt off now extend the time the account stays on my report another 6 years?

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Top Contributor
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It would not extend it. The credit reporting time period cannot be reset. The statute of limitations to be sued for the debt can be reset if you enter a payment agreement with a debt collector, but if you were paying in full that wouldn't matter. Have you read about "early exclusion"? Transunion will sometimes remove accounts six months prior to the seven year mark and Experian and Equifax will sometimes remove a few months early. There would really be no benefit to you for paying this account off. In fact, if the account has not been updated for a while (look for last reported date) it could actually cause a ding to your scores as the payment would cause the account to update. It is all in what you want to do, but it may be best to let the time roll and ask for an "early exclusion" in the coming months. Also read about FDCPA (fair debt collection practices act) when dealing with debt collectors.

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