How long does credit debt take to fall off your credit report?
It takes 7 yrs for bad debt to fall off. So, if your credit reports say they'll drop off in Sept. of '08, they should. If they don't, you can always dispute the inaccuracy. The creditor cannot re-age the debt to prolong/renew the reporting period. Making a payment or reselling the debt also doesn't renew/re-age the reporting period. There's also a statute of limitations on debt. The SOL is how long a creditor has to seek legal remedy. If the debts are over the SOL, I wouldn't pay them a dime. Also, paying on debts this old would actually hurt your credit. The longer a debt remains unpaid the less impact it has on your credit score. If you really want to, pay off the debts once they've dropped of your reports.
by Celeste - a day ago
Just let them fall away - if you make **any** type of payment to them, including a collection agency payment, the 7-10 year clock starts all over again and it will stay on your report for another very long time...so in October of 2008 check your credit report. If they are not off, dispute w/each of the credit reporting agencies - they will have to remove them.
by ineedavacation - a day ago
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