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Exceptional credit vs. Pitiful credit
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Posted by mountainsluv on October 21, 2001 at 15:05:31:
I have wonderful spectacular credit, my husband does not. Several years before we married, his parents assisted him in accumulating several thousands of dollars on three credit cards, which are now charged off and at present total about 12,000. Date of last activity is 10/98. We could get the money to pay these off. After all of my research, I can't tell whether we would be better off in paying them off or riding out the seven years. If we contact the companies and offer to pay that, if I am correct, that will only restart the clock for the SOL. I don't see the motivation for us to do that? The debt was incurred while his state of residence was Florida, so the SOL should be four years? I won't ever be able to get us approved for a mortgage with my salary. My credit score is the only light I see in a very long and dark tunnel. Any, any advice at all would be greatly appreciated! thanks in advance
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