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Have an old utility bill for $333 and is estimated to fall off report in Jan 2011 I can pay, but I don't want this old bill to be reactivated so to speak for seven more years. I have read here that making a payment after several years will reset the sol.
sol and pfd letter
Hi Russel,
Yes making a payment can reset the Statute of Limitations. However, as far as I understand from your query, you are agreeing to pay the bill. SO, if you are agreeing to pay the bill you can send a "Pay for Delete" (PFD) letter to the company. With the PFD your account will get reported as "Paid". When you are settling the amount to be paid and is asking for a PFD, try to pay the full amount.
If your account is being reported as "Paid", you need not worry about the SOL.
Hope this helps.
Regards,
Aaron
Aaron this would be illegal to reset the statute of limitations.
But this really shouldn't matter if there is a pay for delete. no delete no pay it doesn't matter what the date is if the tradeline is removed
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bYeovb Wow, great post.Really looking forward to read more. Fantastic.