You admited you owe the money did you mess up the statue of limitations?

Yes. The statute is reset if there is admittance of debt or if a payment is made towards the debt. Check what the statute is in your province or state (can be 2 to 10 years). They creditor has that amount of time (from the last payment or when you admitted to owing the money) in which to sue you. If they don't sue you within that period of time, you are off the hook. They can still call you and send letters but have no legal ability to sue, garnish wages, place liens on property you may own, etc. They can also report it to the credit bureaus which will affect your credit rating and your ability to borrow money. To avoid making this mistake again, don't talk to creditors on the phone! Send letters only and request that all correspondence be in writing. If the statue has expired, tell them in writing that you are aware that the statute has expired and that you are entitled to immunity in regards to their claim. Once they know that you know the law and they won't be able to collect their money, they usually leave you alone.