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bad credit?

so i have bad credit (really bad) and i want to know when it all will go away. i see that the creditors have resold my debt to other collections...will that linger on forever? Well I live in california and I checked my sol for CA and its 4yrs. I have student loans for 2001 (at least 2,500) and I think a credit card (that I claimed as stolen but it never got filed) for what was 1,500 but now its 4,000 cuz of interest. I got a call about a few weeks ago for a "lawyer" I knew it was a collector cuz I called after hours and the machine said it all

Public Comments

  1. Mortgage Choice (the bad credit experts). Soz, got that straight of an ad, but it might work. Personally, I haven't had that experience b4.
  2. yes, It won't hurt you much after 10 years but it will always be on your credit report. My best suggestion to you is to get your credit report and try to pay of your debt, usually they try to help you by getting at least some money back. You can also go to your state's Credit Counseling, it's free and helpful.
  3. It won't go away until YOU PAY YOUR BILLS. So, what you can do is pay the debt, if you cannot pay the debt and it has already gone to collections then maybe if you qualify you can file for bankrupt.
  4. 7 to10 years. call a credit fixer.
  5. Well, to start you might want to PAY IT. That is a sure way to start down the road to recovery. You don't think you can just walk away do you?
  6. Research the statute of limitations in your area for "reporting" a debt. 7 years is pretty much the norm, but varies by state and type of debt (credit card, cellphone, medical). Student loans NEVER go away, bite the bullet, and figure out how to pay 'em. Once that's expired, you can send a letter to the credit reporting agencies identifying the debt as "outside of statute of limitations" and they legally have to remove it. Careful though, some of the companies will hire law firms to collect, and those bastards will slam a summons on your door, get a judgment, and make your credit a whole shit-ton worse.
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  8. sorry for the long answer but you didnt state what is specifically on the report. •Delinquencies (30 – 180 days): Can remain seven years from the date of the initial missed payment. •Collection accounts: Remain seven years from the date of the initial missed payment that led to the collection (the original delinquency date). When a collection account is paid in full, it will be marked "paid collection" on the credit report. •Charged-off accounts: Remain seven years from the date of the initial missed payment that led to the charge off (the original delinquency date), even if payments are later made on the charged-off account. •Closed accounts: Closed accounts are accounts that are no longer available for further use. Closed accounts may or may not have a zero balance. Closed accounts with delinquencies remain seven years from the date they are reported closed, whether closed by the creditor or by the consumer. Positive closed accounts remain 10 years. •7, 11, and 12 remain for 10 years from the filing date. Chapter 13 remains seven years from the filing date. Accounts included in bankruptcy will remain seven years from the date they were reported as included in the bankruptcy. •Child support judgments: Remain seven years from the date the judgment is filed. •Civil and small claim judgments: Remain seven years from the date the judgment is filed. •City, county, state, and federal tax liens: Unpaid tax liens remain 15 years from the filing date. Paid tax liens remain seven years from the paid date of the lien. •
  9. This is not going to go away any time soon. You need to handle this situation and move forward. Don't try to wait and hide it out. That's definitely not the answer. Go to this website for help: http://www.credit-card-loans-debt.com/
* Some answers may have been provided by Yahoo! Answers.