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Reply to "Outstanding Debts from 199...????"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The debt does not go away, only the ability of the creditor to sue you for the debt. If you want the debt removed from your credit report, you need to pay it. Pay the full amount and don't settle, this would negatively affect your credit.[/quote] Bullsht. The debt goes away after 7 yrs. Federal law. FCRA. Stop trying to moralize about what is purely a legal matter. [/quote] The FCRA does not make debt go away. It just says it can't show up on your credit report for 7 years*. You could still be sued for it if the statute of limitations (under state law) has not passed. Even if the statute of limitations as passed, bottom feeder debt collectors may still try to collect it outside of court. *Protip: if you're trying to take out a very large loan or insurance policy, or if it's a credit check by an employer for a higher salary job, the credit report might go back further than 7 years.[/quote]
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