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Reply to "Outstanding Debts from 199...????"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Thanks everyone for the advice. I like the idea of after 7 years the debt is wiped away because at the time I couldn't even afford to pay a bankruptcy lawyer. And I didn't know that "settling" w/a lawyer would still make my credit suck. I thought paying off the debt by settling would be better than not paying it at all. [/quote] Have you spoken to this lawyer and admitted the debt? If so, you might have reset the 7 year clock.[/quote] Paying any part (or all) of the debt won't change your credit score one bit because the debt is wiped off the report after seven years. Gone. Completely. If you choose to give away your money to financial institutions for free that's your choice. Google around and look at some of the enforcement actions that the CFPB is taking against debt collectors collecting very old debts without telling people that the debts aren't on their credit reports anymore. [/quote]
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