Mildred Pombo: it's mostly true. http://www.consolidatedcredit.org/debt-learning-ce...
Tomeka Hameen: No it is not true it will be there forever but some do not check back past certain years . . . I worked for a lender that only looked at the past 3 years . .
Antonette Shappy: Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : http://www.counselingcreditcarddebt.com...Show more
Emile Midgley: SOMETIMES, but some will remain on your credit report, stil! l giving you a bad credit rating......
Norris Rosener: the trick there is that it falls off after it remains inactive for 7 years. what usually happens is the company that owns your debt, will sell your debt to another collector. once that collector takes over--the debt is re-activated and the 7 years starts all over again. try working a settlement with them but only pay them by money order and don't settle unless they send you something in writing.
Torrie Weissenbach: Bad credit can haunt you the rest of your life. If you use your credit cards to live beyond your means, you will always be poor no matter how much you make. Is that what you want?No? Then cut them all up & pay them all off. Good luck.
Ira Porietis: If it was reported to your credit and you have paid it, it will fall off after 7 years. An outstanding debt is renewable should they choose to do so.
Season Confalone: You heard wrong. If you fail to pay off a loan it follows you until yo! u pay it.
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