[Integrityrocks]

I disagree. If you think waiting out the Limitations statute is a smart idea, fly at it. They WILL hunt you down and your credit will be ruined for failure to pay. Making payments is the best thing to do.

[utahagen]

Any creditor who sues you will be happy to settle for 50% payment — and most creditors won't bother to sue you in the first place. As for your credit reports, not everyone needs good credit. If you have a steady job or income, your credit report may be worth less to you than cold, hard cash.

Your thinking is reasonable, but it is too conservative in light of what happened yesterday. Ours is a brave new world and people like you/us are going to get hosed if we approach things in the same responsible way our parents did.