After seven years do all negative items remove them self?
Answer:
Sometimes you have to dispute them as "obsolete" and then they will be removed.
no
You have to be more specific.
no, it will still show up.
this is what I heard
Only if you have broken a Mirror seven years before.
I think it may be 10 years now
no another company will buy the account and try to get you to pay it. they will start the 7 year period over from the the time the second company purchaes the account. this may happen several times with each seller claiming it as a loss for the year. it is illegal for them to do this but most people dont know the law and just let it go and simply do not pay either company. this method will not work they will continue to screw up your credit for years if you let them get away with it. seek legal advice i could be wrong
Depends on what your talking about some bankruptcies can be on for ten years. Some things fall off at seven years.
Bankruptcy information may be reported for 10 years.
7 years and 180 days after the deliqency that caused the account to go bad. The time clock starts on the month the original deliquency started by the original account, regardless of whether the account has been sold to a collection agency, was paid at a later date, or a judgement was placed
No there is certain debt that goes to the grave with you. Having said that the VAST majority of debt (95%+) does become null and void after 7 years. However, you will probably have to write EACH credit reporting agency individually to have "old debt" removed. You can do this by email now. Good luck.
Slainte,
-D
Yes after seven years they will "fall off", however there are some collection companies out there that will resell your debt if they want to and it will become a current when they do sell it.
Besides bankruptcy, most debts are suppose to come off at 7 years. If for some reason they do not, you simply dispute the tradelines as obsolete.
Just because the 7 years has past, that does not mean the collection agency has to stop asking for the money. They can pursue you as long as they want. They cannot sue you though and since it is no longer on you report, they should not be able to prove that you owe the debt and put it back on your report.
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