2007-01-31 04:56:32 · 11 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Stays on a credit bureau report for 7 years in most cases; doesn't expire in many states for 20 years or more.
2007-01-31 04:59:20 · answer #1 · answered by wizjp 7 · 0⤊ 0⤋
You're getting some bad answers here. In most states ANY debt becomes uncollectable after either 4 or 6 years, depending on which state and the type of debt. Credit card debt for example, becomes uncollectable in Georgia after 4 years.
2007-01-31 05:03:56 · answer #2 · answered by Anonymous · 0⤊ 1⤋
A Debt is until it is satisfied.
A regular bad debt on a US credit bureau file is valid for seven years.
A Bankruptcy, Re-po, or Garnishment shows 10 years.
Good Credit stays forever
2007-01-31 05:04:59 · answer #3 · answered by Wood Smoke ~ Free2Bme! 6 · 0⤊ 0⤋
ccj's last for 7 years (i.e. if you've been taken to court). But if not you rebuild your credit back up every month by paying your other debts on time. Your credit rating actually changes each month, every credit card that you miss or pay late effects your credit score.
2007-01-31 05:07:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
First responder is correct. A statute of limitations may limit legal action to collect on a debt; it does not cause it to expire.
2007-01-31 05:05:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
a debt will stay on your credit record forever, unless you have paid it off.
once you've paid everything, it effects your credit record for 7 years. You must take it upon yourself to ensure that everything on your credit record is accurate though. check frequently.
2007-01-31 05:06:07 · answer #6 · answered by ljade_rockinfreakapotamus 2 · 0⤊ 0⤋
After you have paid of the debt it will stay on your credit file for 6 years according to EXPERIAN http://www.creditexpert.co.uk
2007-01-31 04:59:51 · answer #7 · answered by ஐ♥PinkBoo - TTC #1♥ஐ 5 · 0⤊ 1⤋
Actually it is ten years.
2007-01-31 05:02:46 · answer #8 · answered by angelunawrs 2 · 0⤊ 1⤋
for life if it is with the mafia
2007-01-31 05:03:53 · answer #9 · answered by Anonymous · 0⤊ 1⤋
until you pay it off
2007-01-31 04:59:02 · answer #10 · answered by Lucy Chik 3 · 1⤊ 1⤋