Should you pay collections debt that's past the statute of limitations?
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TL;DR
- Paying old collection debt may not always be advisable, especially if it's past the statute of limitations.
- The statute of limitations dictates how long creditors can sue for debt, varying by state and debt type.
- Making a payment or acknowledging a time-barred debt can, in some states, restart the statute of limitations.
- Before paying, verify the debt's age, check credit reports, and understand state laws on restarting the statute of limitations.
- If sued, you must raise the expired statute of limitations as a defense.
- Consider other debt relief options like credit counseling, debt consolidation, or debt settlement for multiple unaffordable debts.