How does the negative stuff on my credit report go away?

Question

I have pulled a credit report and disputed everthing, and its all still on there. Most of the things are to expensive to pay off (would take YEARS). However, some things I could pay off quicker. How does the bad stuff go away without paying on it?
Can it go away this way?

I should also mention that the biggest thing is an eviction. the total amount is aobut $10k. This means that I cant get another apartment because I owe that money, and it would take so long to pay it off. I dont know what to do about that.

Answer 1

Sometimes disputing everything isnt the answer. The ones that you have paid off I would not only dispute but send copies of the paid receipts that companies have sent you and send them to the three main depositories. The three main depositories is transunion, equifax, and experian. They will verify them and show a zero balance on your report. If you owe balances on the other debts it wont do any good to just dispute them. They wont go away. If they are just medical collections they will go away in about 7 years. If they are judgments, they wont. If they are tax leins they will remain on your report for 10 years unless they contact you again then they will stay on your report longer. As far as the medical collections, video stores, small retail stores, or things of that sort the older they are the less impact they have on your credit report and your credit score. If you are interested in paying any of them I would start with the smaller balances first and go up to higher balances. The more zero balances you show it makes you look a little better. I do not recommend bankruptcy however sometimes it cant be helped. If that is the solution you choose remember it will take approximately 2 years to get a home loan with a good interest rate. You can also go to CCC otherwise known as Consumer Credit Councelors who will call those companies and come to a solution for you then you pay them X amount of dollars a month and they distribute it. Be sure and get a company that charges nothing or very little. That will sting your credit as well, but not as much as having a lot of bad debt on your credit report. And what has already been told to you, cut out the credit you dont need. In other words, stop buying and start paying cash until you can clean up your credit. Dont over extend yourself. Work off a budget and stick to it. If you pay your credit cards on time, meaning at least paying the minimum payment you can maintain a decent credit score, but that also means dont continue to use them. Cut back. Pay larger payments. You will find that your credit scores get higher if you keep your balance at 50% of the allotted high credit they have given you. ie...If your high credit is $1000. you should keep your balance at $500. Good luck with your dilemma.

Answer 2

If you owe money, and the lender keeps reporting that you owe it and aren't paying, it will keep showing up on your credit report. It's not 7 years from when you borrowed it. It's 7 years from whenever the lender decides to stop reporting you to the credit agency. And they don't ever have to stop reporting you. So your choices are to either try to get your debt discharged in bankruptcy proceedings and then wait 7 years or repay it and wait 7 years.

Answer 3

Well with the 7 years it can be started over so it could never go away. If a new collection agency buys your account from another agency then your debt starts back over from day 1 so waiting on the seven years is not the smartest idea. Maybe file bankruptcy

Answer 4

It depends on the creditors. In 7 years your stuff goes off your report, bad or good. You can also find out who holds the report and call them to dispute anything that you don't think should be on your credit report.

Most banks can give you the information on who holds the account on your credit.

hope this helps

Answer 5

It relies upon. in spite of if that's set to be fraud, which will take a little time to look into, it is going to disappear. in spite of if there could desire to be residuals. Your credit(s) can in common terms be offset via effective credit. the ideal thank you to do it truly is have a small quantity of debt it is carried for a jiffy, yet paid without delay over that factor. yet, it may take years for that the solid credit to weigh down the weak credit. not paying it is going to in common terms make it worse. My roomate those days declared financial disaster, it is incredibly hitting a reset swap. this would possibly not be superb for you nonetheless.

Answer 6

It's 7-years from the date last reported by the lender. So it could stay on your report forever if your lender keeps reporting that you owe them.

The only sure fire way is to pay it off, and then it will go away 7-years later.

Answer 7

You either have to pay it or file bankruptcy. Your credit rating will still be poor, but as long as your bankruptcy paperwork shows that the particular items in question are included in bankruptcy you could still get loans or whatever. You will still have to explain the situation for any higher dollar loans/credit that you seek. Lenders don't like taking risks for non-payers.

Answer 8

First of all, don't buy stuff you can't afford. Second, pay for the stuff you have already bought. It will come off your history either when it is paid for or 7 years. It's stealing if you aren't planning on paying for it!!!

Answer 9

I've never heard of it just going away. Maybe that's what the 7 year thing is..After 7 years if it's not paid, they just wipe the slate clean. Hmmm..maybe ask an accountant.

Answer 10

U have to pay them in full, then it takes 7 years for them to be removed