How many years do you have to wait until an unpaid credit card debt is removed?

Question

I was not able to pay for the last 7 years due to not having enough money.

Answer 1

It is truely depressing to constantly see Yahoo Answer's concept by destroyed by morons like Flower Girl's idiotic answers, or Dude's preaching (do that in the religious areas, ok?)

Your debt must be removed after 7 years, beginning on the date of the delinquency.

If it's not removed, you simply follow the dispute process as stated in the Fair Credit Reporting Act. If done correctly, and the listing is not removed, then you have grounds to file a small claims lawsuit against the creditor for $1000, and you will easily win.

Note that creditors frequently will "re-age" your debt, by changing the delinquency date. You need to check on this, so look at your old bills.

The "delinquency date" is the day you payment was due. Lets say your payment was due Jan 1, 1999, and you missed it. That begins the reporting date.

NOT the reporting date! NOT the charge off date! NOT the last transaction date.

Answer 2

7 to 10 years

Answer 3

The answer is simple, without putting you down, 7 years for the first date of delinquency. Sometime they do not fall off your credit report alone. If after 7 years it does not come off your report, you simply dispute the trade line as obsolete. Now just because it falls off your credit report, it does not mean that they will stop trying to collect the debt. They can try as long as they want but it just won't be on your credit report.

Answer 4

It's usually seven years from the last time the debt was updated on your credit report. Go to www.annualcreditreport.com, and you can view your credit report for free and also you should be able to ask questions and even dispute this credit card issue if it was from seven years ago. Good luck. I'm working on my credit too. It can be a pain.

Answer 5

To the best of my knowledge, unpaid debt never goes away unless you file for bankruptcy. You may even find someone repoing your house when your rich if the interest gets high enough. If you were to pay them off, them I believe the general rule of thumb is that all bad credit is swept under the rug after 7 years, but that is only if you have paid all of your past dues. good luck.

Answer 6

Technically, they are never removed. The debt is usually waived after 7-10 years, but the issuing credit card company can always come back and redeclare the debt if they see you get another credit card from a different lender.

Answer 7

Forget getting credit anywhere for a loooooooooong time.

The only people that will borrow to you are the dodgy ones that charge 20%.

You could make an arrangement with the bank and maybe pay back 50-70% of the debt in exchange for them taking the black mark off your credit rating.

Answer 8

It may never go away. As long as the debtor is willing to keep reporting it to the credit bureau it will show on your record. If the debtor writes off the debt and stop counting it as an active file then generally about 10 years is the max it will show on your credit file. If the credit bureaus hear nothing about it for 10 years it will probably drop off your history.

Answer 9

After 7 years it is removed.

Answer 10

7 years at this point and time it is 7 years from the first day it was reported to the credit agency. If you just now paid it is should drop off