| A poor credit rating is almost always as a result of | | | | regardless of you paying the debt or not. |
| outstanding debt. For that reason there is always the | | | | Also keep in mind that if the debt in question is very |
| question of whether to settle the debt before repairing | | | | recent and you need to fix your credit for other |
| your credit report, but there is no simple answer to this | | | | reasons such as buying or refinancing a home, you |
| question but I will do my best! | | | | want to seriously consider settling on the debt. The |
| Outstanding debt has what is known as the status of | | | | reason is that it is likely that the lender will require you |
| limitation, which refers to the timeframe that the | | | | to do so as a condition of having the loan approved. |
| creditor has to sue you to collect on the account. Each | | | | It is also harder to have such an account deleted from |
| states statue is different so you want to find out what | | | | your credit report when it is fairly recent. Thousands of |
| it is where you live. | | | | people waste millions of dollars on an annual basis |
| Now if you have an outstanding debt where the | | | | settling debt that has passed the statute of limitation, |
| statue of limitation has passed, there is no benefit that | | | | mainly because they were threatened by scrupulous |
| will be derived from settling the debt, it has already | | | | debt collectors... |
| done the most damage it can do to your credit report | | | | Don't let this be your fate but instead educate yourself! |
| and having the original entry deleted can be done | | | | |