If you pass statute of limitations on a debt, how does it effect your credit?

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If you pass statute of limitations on a debt, how does it effect your credit?

2006-11-03 08:53:46 · 3 answers · asked by grossie 1 in Business & Finance ➔ Credit

3 answers

Negative ... As unpaid and resolved.

2006-11-03 08:57:21 · answer #1 · answered by Ralphy 1 · 0⤊ 0⤋

Done and over! Statute of limitations in most states is seven years which is exactly what credit bureaus are allowed to report bad debt! Be careful and check your credit because the credit bureaus will report indefinitely if you allow them to!

2006-11-03 17:02:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋

It still stays on your credit report for 7 years. The two are not linked exactly.

2006-11-03 21:22:36 · answer #3 · answered by Mariposa 7 · 0⤊ 0⤋