old debt please help

You can try sendin a pay for delete letter. Or if they have been in collections a very long time, you might want to find out what the SOL for your state is.

A paid collection has about the same effect on your score as un unpaid collection. Paying will show it as more recent and hit your FICO's. If you're not applying for a mortgage or credit now then concentrate on what's current. Waht state are you in? What is the date of first default and last payment on the derogatories?

If it is approaching 7 years deliquent then I would just let it hit that 7 year mark and then dispute the debt to make it fall off your reports. This strategy works even better if you live in a state where your SOL is less than 7 years which means they can not sue and when as long as you answer the summons using the SOL as a defense.

I live in michigan and 2 will hit the 7 year mark in 2012

also what is SOL?

That means the debt is only 3 years old. You have a while yet then before you even get close to the 7 year mark. SOL is statute of limitations and it is the time limit they have to file a claim against you. After a debt is a certain age varing by state a creditor can not sue and win if to much time has passed as long as you claim the SOL as a defense. I am not sure what the SOL is in your state but I am sure it is longer than 3 years. The shortest I can think of is 4 years and the longest I can think of is 10 years but you can look up your state sol on this site to know for sure.

SOL in MI is 6 years for CC debts. SOL clock starts ticking from the date of last payment so you are well w/in statute.

I will have to relook at my credit report and figure it out. thanks for all the help.