Hello.
I have had this collection issue since 04 Jan and as you can see 4 years have already passed. The amount after interest is not around 29K. The original debt was established because I rented a car and crashed it and due to some issues, the insurance didn't cover the claim so the rental agency asked me to take care of the amount.

I know that I can't be sued in court as the SOL of 2 yrs has expired. However, I would like to restablish my credit. If I were to settle with the agency/original creditor, would this have any effect on my ability to get any credit because as for now, I cannot get any credit. I don't mind waiting for another 2 yrs, but if I was able to settle this for a small amount, I need to know what advanatage I would gain. If it just would show as "settled" and no positive effect on my credit rating/score then there is no point.
Right now, my score is 580. MOst banks require 650. So what do youthink. Would settling remove the black mark and move the score to the 650 level or is it best to wait another 2 years and let this thing disappear on its own.