1996 repo that I want to settle with GMAC

What is the name of your state? South Carolina

In Sept of 95 I leased a truck from GMAC ( I was living in Alabama at the time) and in the summer of 96 it was repossessed. I never heard anything from GMAC on the matter. I was 20 when this happened over 8 years ago and have now decided to try and correct my debts and credit situation from my younger days. I'm not using my age as an excuse. I called GMAC today and they told me that I owed them $8097.10 but they would settle for $6000.00 I was thinking more along the lines of 10% and pay them $809.71. I didn't offer it I just told them I would think about it and call them back. I'm assuming that they cannot come after me over the debt because of SOL but I don't know if my contacting them may have changed that and now the time starts over? I want to do the right thing and pay them but I cannot afford $6000. The way I think is 10% of something is better than 100% of nothing.
What would be the best way to approach them with the offer?
How do I make sure that this shows up as settled on my credit report if they do take the offer?
Thanks
Michael Johnson

[Ladynred]

First, you are correct, the SOL ran out a long time ago.

Second, if the loan went delinquent in the summer of 96, it should have dropped off your credit report this past summer ! If it has not, dispute it as obsolete and get rid of it. It would then no longer have ANY impact on your credit .. and you're definitely NOT buying yourself anything positive at this point in time by paying on this dinosaur debt.

Unless you've got a bad case of guilt, I wouldn't waste any money on it at all. It should be off your reports and have no impact whatsoever.