If debt is written off, am I free from those fools?

Answer 1

Nope. It will stay on your credit report for 7 years of the original debt opening date. You can also by sued by the creditor depending on your state (statue of limitations varies by state). A link showing the length of limitations is below.

Answer 2

No they take the credit and send you(usually a 1099 acting like they can call it income on yuor part.
Than they sell the debt for sometimes pennies on the dollar to greedy debt collecting crooks and these debt collects crooks hire greedy lawyer swho tak ethem on consignment. Than after harrassing you for years you wake up with a granishmen on you totalling much more than you ever owed.
If a company you owe to offer syu a chance ot pay out lesser amount to clear it promising no more collection attempt sior harrassment you hav eot tak etheir offe rto a lawyer pay hims a few bucks (well worth it) to hav ehis secretary do some paper work and you may ge tby with less.
But i fyou giv ethem a check over internet or on the phone or mail in in your self usually you'll find yu owe as much as ever as they just take your money and sell the entire all over again to soemone else(usually anothe name but same company.

Answer 3

It depends. They may have sold it to a collection agency, and some of those people can be nasty. The collection agency can also reclassify the date of the debt to the date they receive it, thereby making it harder to erase from your credit report.

Answer 4

Oh, you're free from those fools.

You're just not free from every collection agency they sell your account to.

The agencies will report you for 7 years, then they must stop reporting you, but they don't have to stop harassing you.

Answer 5

They can still persue you for it . Companies write off an amount of doubtful accounts for tax purposes. You still owe them the money.

Answer 6

Nope stays on your credit report