This is True. But is is not unethical for you to not pay a dept no matter how long ago it was? As for your question about the renewing of old dept. Each state is different so I can not really give you an answer.It is supposed to fall off after 7 to 7 1/2 years of you doing nothing, no matter what they do. However, it can be shown 2 (or more) times until then. Also if you do anything, such as accepting a settlement, then the time period can start again from zero.
Do not accept a settlement. If you are not willing to pay the entire amount owed, without accepting a settlement, then do nothing until 2013. If it is still on your credit report in 2013, then dispute it in 2013 on the basis of it being more than 7 1/2 years since you last did anything yourself.
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