If you make even a 1 cent payment, you will probably renew your entire obligation.

The statute of limitations appears to be three years, which would ordinarily run from the later of the last payment made, the last purchase on the account, or the last date payment was due following that final purchase.

You may wish to consider sending something along the lines of this:

Quote Quoting Sample Letter Objecting to Debt - Statute of Limitations
Collection Agency
Collection Agency's Address

Subject: [Account Name / Account Number]

Dear [Bill Collector],

This letter is in response to your correspondence dated DATE, 2005 concerning the collection of the above referenced account. A copy of your letter is attached.

I do not believe that I owe this debt, and therefore I am disputing this debt. I have verified the state statute of limitations for debts of this type through North Carolina courts as three years. Therefore, the statute of limitations for the collection of this date has expired.

I hereby request that you take the following actions:

1. Please contact any credit agencies to whom you have reported this alleged debt, and inform them that I am disputing the debt; and

2. Please also forward a copy of this letter to the creditor who alleges that I owe the debt at issue, and inform them that I am disputing the debt.

Except as specifically outlined herein, I am requesting that you cease all contact with me about the alleged debt. Any further contact should be strictly in conformity with the FDCPA: It should be limited to providing me with the documentation requested in this letter, informing me that you have ceased collection efforts on the alleged debt, or stating that you are taking a specific action in relation to the debt such as commencing a collection lawsuit. Obviously, I would raise the statute of limitations as an absolute bar to any lawsuit.

Any further contact should be made in writing, and should be submitted to my home address by mail.

(Sign above name)
Printed Name