Have been paying a small monthly payment to Richar
Date: Sat, 02/26/2011 - 07:40
Have been paying a small monthly payment to Richard Bourdeau & Associates for an old debt. Recently pulled a credit report and see that the original debt is no longer on our report and in fact the statute-of-limitations ran out two years ago. Do I have to continue making payments? Will the Bourdreau people put the debt back on our credit report or sue us?
If the SOL is over, then they won't be able to put the debt back
If the SOL is over, then they won't be able to put the debt back on your credit report, as per my knowledge. You may stop making the payments.
disregard #2, if you have been making payments then the SOL has
disregard #2, if you have been making payments then the SOL has been reset from the moment you started those payments. If you quit making payments now, they have all rights to sue you for a judgement. By making payments you acknowledged the debt and reset the SOL.