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 Posted: Fri Oct 24, 2008 12:38 pm Subject: Should I pay this debt |
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I am a 64 year old woman with no health ins., with enough money to live comfortably now. I do not want credit cards. The debt I owe is 8 years old. Recent circumstances make it imparitive that I buy or rent a 4 bdrm house for daughter I recently located after 6 yrs for to keep her 3 children and move back home to my area. I can do this now but I know I would have to spend 20,000 of retirement money. My grandson (9) has post tramatic stress disorder and has been hospitalized 3 time in the last 4 years. My other daughters say no to paying dept off. My brother will co sign for rental. Should I go through the process of paying this debt off?
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nasramdaw1
Joined: 24 Oct 2008
Posts: 1
Debtcc Points: 16
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| Posted: Fri Oct 24, 2008 12:43 pm Subject: |
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Is this a current debt or something that you've fallen behind on?
What type of debt is it? When was the last time you paid?
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debrag_25
Joined: 10 Jan 2007
Posts: 221
Debtcc Points: 3000
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| Posted: Fri Oct 24, 2008 4:36 pm Subject: |
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Your debt is probably past the Statute of Limitations and you shouldn't be liable for it anymore; I believe that differs from state to state. With regards to your question: If you don't ever plan on using anything that concerns credit, I wouldn't worry about it too much; and chances are it's off already and your score is healthy.
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Nico
Guest
Debtcc Points: 100
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| Posted: Sat Oct 25, 2008 6:16 am Subject: debt |
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Yep...I agree with NICO. If the debt is THAT old, the SOL probably DID expire. Also.......if you try and make arrangements to pay on the debt again, you would 're-start' the debt. That means you would start the SOL over, and you don't want to do that. I would say, too, if the debt is on your CR, the 'fall off' date would be soon. I wouldn't worry about the debt anymore.
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sdchargers_63
Joined: 08 Aug 2007
Posts: 1283
Debtcc Points: 11812
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