re: Just got dealt a low hand (wife's old CC from 5 years ago)

quote:

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I am a bit surprised to see many of the responses on this board advising not to pay the debt. I would have a big problem with it, just from a moral perspective.

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I think it magnifies one of the inherent problems with how credit is tracked and scored. The big fear is what further damage it would do to one's credit score to pay it. The damage has already been done, and sure the right thing is to pay it, but resetting the clock on that debt just because you paid it is kind of unfair.

Further, I reconcile it by knowing the original creditor received some compensation from the debt collector, so they have been somewhat satisfied for their extension of credit. The debtor has no obligation to the collection agency, especially in the case where the SOL has run out on legal recourse on the debt.