Here is the contrarian answer: it is in your best interest not to touch it. The statute of limitations has expired, and your lender can no longer sue you. After seven years, it should have fallen off your credit report completely. Essentially, this debt is old and forgotten, and it does not hurt you any more. read more
For example, if you don't think you'll qualify for a balance transfer credit card because of your credit score, you may still be able to take out a personal loan. If you can move half your credit card debt to a personal loan, you'll lower your utilization rate, which could lead to a quick increase in your credit score. read more