Quote:
Originally posted by notcasesensitive
His last payment was January 2005. I'm sure it is within the limitations period.
How bad would it be to have a settled debt on my credit report? Bad enough to pay the full amount to get it off instead of trying to save myself a few thousand?
In a not-so-wonderful coincidence, I rent and will be moving within 6 months. My bf has stellar credit, but I don't want something on my credit to screw us in the renting process. We'll be trying to rent a place in Santa Monica, which is a total landlord's market. And good stuff flies off the market with multiple people waiting in line for it.
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I am no expert but this happened to me in a previous life (deadbeat ex (who was my common-law husband, so attempted to saddle me with his debts)). I just paid it and moved on. It would be a fairly insignificant amount now, but seemed a huge amount then.
I would really look into how this is going to affect your credit score. The bank is being heavy-handed but you don't want to get screwed by fighting it.
