The wording that you have written about in your question means that the credit reporting agency will continue to report on your unpaid debt to February 2013. The statute of limitations on the debt assuming no lawsuit has been filed is already running.Most credit card debts have 4 years statute of limitations running from the last payment on account.There really is not much for you to do concerning the debt that you are writing about unless you want to try and pay it off. If you do, you can make monthly installments under a written agreement with the creditor, or make a lump sum payment for some amount for a full release of the debt to be signed in writing by all.