Tlawrence,
That is correct. In the US, if you do pay to fly schemes, a lot of hiring guys will either file your résumé straight into the round file, or subtract any P2F time from your totals (as if you never did it). It is looked down that much in the US. Get your CFI, CFII, and MEI and that will get you current. Look around first if any schools are looking for instructors and see if you can do your training there.