Pay or Ignore? Statute of Limitations on Collections not included in BK13

[changed1]

I apologize if there is already a thread about this, but I couldn't find it...

I recently looked at my credit report, and found a $200 account in collections from an old reoccurring charge on a credit card. When the bottom fell out, the credit card could not be charged anymore, so apparently they are trying to collect for the balance. I was not aware of this until I googled the company and put two and two together. I am not even sure if I signed anything binding me to a payment contract. Therefore, I did not know about this account at the time to include it in our BK13.

My questions are, should I wait for the SOL to run out? Will it fall off my credit report in 6 years? Or, is it better to pay it? However, I read that when outstanding collections account are paid it in full, the collection will continue to stay on the credit report for another 7 years. What will happen if I just ignore it? I have not been contacted by this collection agency, but they are actively reporting the collection account on my credit report.

Additionally, I am in a state where the SOL is 6 years. We will be finished with our BK13 in 2016.

Thank you for any help with my questions.

[justbroke]

Simple. Just send them a letter with a copy of the Notice of Bankruptcy (Chapter 13 Bankruptcy). You might be able to add them in at this late time, it just depends on procedure in your District.

They may go away with the Notice of Bankruptcy. You never know.

[AngelinaCat]

Make sure you send any correspondence certified with a return receipt to come back to you. It is worth the extra few dollars for your peace of mind with a green card coming back to you in the mail, to show that someone received the mail, and the date it was received.

Keep all of these receipts and insignificant looking pieces of paper into your BK file.