What are the consequences?

I have 2 open debt accounts with portfolio recovery in New Jersey from when I was a dumb teen/early 20s. When I log in they say due to the laws in my state, "we will not sue you for it or report payment or non- payment of it to a credit bureau." So I'm ok to ignore it? It won't bite me later on in life? I'm 30 now and trying to fix past me's mistakes.