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Please give me advice on how I should best move forward.  I honestly thought I paid off a loan froma store 3 years ago.   I wa very shocked to see a collections service on my Equifax.  The original amont was around 400.  Now with interst, it is close to 700.  I cannot pay this.  I am laid off.  If I make a deal with them to pay some if it to close the debt, I think that will show on my equifax for 6 years from the date of the deal arrangement.  I think if I just wait 4 more years, it is cleared from the equifax anyway and I pay nothing.  Can you pay people to go in and clean up your equifax?

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Based on my experience with older debt, you are correct. If you start to repay the debt it will be on your credit report for the next seven years at least. You stated the debt is on your report, not actively being collected on.  You also stated you're laid off, so you can't pay what you don't have.  If no one is calling you to collect it, I wouldn't do anything about it right now.  Once this virus mess is under control and you are working again, I would take a hard look at your finances and then figure out the best path to getting everything straightened out.  If you do nothing it should be on your report for another four years if you want to wait that long.

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