I have a credit card debt from 2004 that I spent about $4500 on. The rest came from interest and over the limit fees and so on. The whole bill comes up to about $9500 now. A collections agency has called me and were completly rude about this debt and were angry because I could not pay the monthly balance they wanted me to. So now they call me over and over and I have been ignoring them. I have other credit cards that are over due and sent to collections as well but are under $1000. I spoke with my mother about how I should look into a debt program that allows me to pay a monthly balance to a company who then deals with the collection agency and pays anywhere from 40-60% of what's actual due. She said I should wait the 5 years out and just let it fall off my credit report. I have been looking at other comments and what I am getting is that you don't have to pay the credit card debt after 4 years has passed due to SOL but that it doesn't come off your credit report until after 7 years, is this correct? I just don't know if it's worth it! Should I just look into a credit consoladation (spelled wrong) or should I just wait it out?

