Does making a payment to a collection agency reset the statute of limitation in PA?

Question

Does making a payment to a collection agency reset the statute of limitation in PA?

Answer 1

Yes because one you admit that the debt is yours, and two you made a payment. The debt is then not the original creditors, but the collectors. So your new contract is with them

Answer 2

PA is a tough one as they do not list their state statutes online. You might want to contact your attorney general for assistance.

http://www.attorneygeneral.gov/theoffice...

Answer 3

NO - the SOL is not reset unless the account is brought to a "current" status.

Answer 4

Yes it doe's.

I must disagree with the previous answer in part.

Derogatory accounts show for 7-years from the date of first delinquency per the Fair Credit Reporting Act nothing resets this time line.

So, if you make a payment it will reset the S.O.L. but not the time that the account can be reported.

Answer 5

yes - that item will remain on your credit report for 7 yrs after the last transaction related to it - if you are paying it in full, it will show that, but it will still stay on your record