Debt collectors often try to collect on debt that is so old that it is outside the statute of limitations, meaning they can't sue you to collect. They will try to get you to enter into an agreement to repay the debt, which basically resets the statute of limitations clock. Certainly, it is not advisable to enter into any payment agreement with a debt collector without consulting an attorney.
One benefit of consulting an attorney for a credit report review is that you may be able to actually sue the debt collector for violations of the FDCPA. You could collect up to $1000 in damages and often negotiate debt forgiveness along with removal of negative information on your credit report. And, the debt collector will pay your attorney fees if the case is successful. Our clients never owe us a fee if we take an FDCPA case.
In short, consult with an attorney to thoroughly review your credit report before going the bankruptcy route.
www.debt-relief-law.com 866-279-9721
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