Credit question... I have an old car loan for an auto that was
repossed.  The car sold for less than the value of the loan, therefore
I ended up negative $4500.00 after fees, etc.  The loan was charged
off about 6 years ago.  I continue to get collections notices offering
large discounts over the full amount, yet here's the part where I'm
confused.  If I pay this and they remark is as a paid collection will
it extend the mark another 7 years as it will be new activity?  Also,
if I don't pay, can they continue to try to collect and mark my credit
after the 7 year period?  Your assistance is appreciated.