Although it may seem overwhelming, there are a few things people should keep in mind when faced with this type of situation. First, people should refrain from making an installment payment in order to appease the creditor. The statute of limitations on the debt can restart when a payment is made unless the debtor makes the full payment in one lump sum.
Furthermore, the time-barred debt may not be valid. The creditor could be contacting the person by mistake on a debt that has already been paid. It is crucial that people research the debt, and dispute it if it has been made in error.
Once the debtor receives notice regarding the unpaid charge, he or she has 30 days to appeal the debt. During this time, people can research the charge and explore their options as to how to proceed. Depending on the situation, people could file for bankruptcy, work with a credit counselor or speak with an attorney in order to find the best route.