Hello,
To sum up a long story, when I was 19/20, I made a stupid, stupid decision in leaving an apartment before our lease was up. It was less than a month before it was over but we still had final month's rent due. My partner at the time and I had a dog with we didn't know at the time, was terminal cancer that was draining us financially, and we had to put him down and cremate him which costed us even more money. We had already found an apartment that was more affordable we had a moving date for, and we just ditched the one we were living in previously. Obviously if I could go back in time and change this, I would.
It was finally put on my record in 2023. It is around $6,100. Should I attempt to pay this off in full? Or should I just wait until it falls off around 2030?
Pay off debt? Or let it fall off record?
byu/Single_Ad_366 inpersonalfinance
Posted by Single_Ad_366
1 Comment
Whether or not you legally owe a debt is not determined by whether or not it’s on your credit report. It’s determined by the Statute of Limitations in your state. Unreported debts are still owed, and debts can be on your report beyond the SOL for your state.
You should pay it to protect yourself from being sued and potentially having your wages garnished.