Does contacting the creditor about a settlement reset the 7 year \"clock\" ?

Does contacting the creditor about a settlement reset the 7 year \"clock\" on the credit report?

2 Answers

You can settle your debts with the creditors without any worry. The 7 year clock will not be reset. By the way, when did you make the last payment on the debt?


No it does not.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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