luvbug7982
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I dont know why people come around here acting like they are above everyone and have never had a debt in their entire. Who are you to judge? Just asked a simple question, not your personal opinion which probably isnt worth a damn anyway!
now my dear, as for your perfectly valid question: A debt will stay on credit report for 7 years and 7 years only. that is the law. Only bankruptcies stay on your report for 10 years. You can pay this collection agency if you want or dont. Either way, its not going to affect your credit any longer.
Check your credit report, im willing to bet its no where on there. |
skaizun
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Unless you pay at least the minimum amount due on every bill, your credit will reflect that you are slow in paying your debts. Even if you pay everything you owe, immediately, your credit report will keep the "old" info for a LONG time! This is not necessarily a "bad" thing, because credit card companies love hitting people with exhorbitant interest rates! That's why folks who owe lots of money continually get offers for credit cards! (it's a strange world we live in!)
A classic down-debt scenario is to transfer all your credit card debt(s) to a single card, preferably the one with the lowest or no fee per year, and having the lowest interest rate; or, get a new card that clearly advertises free credit card debt transfer and no interest for a given time period.
The link, below, shows how you can get free credit reports every year, if you wish, if you are an American citizen (one of the previous answers, above, implies that British citizens have to pay for the privilege, but, for the record, that info won't help resolve your debt; it'll only show what credit cards you currently have (including financial companies, retail and gas cards, etc), and how often you pay, whether you owe anything to anyone (the reports aren't that easy to read, so, you may need help interpreting them).
Note that these free reports do *NOT* give you your so-called "credit score", which is a 3-digit number indicating your credit worthiness, which, unfortunately, you have to pay to obtain. IMHO, it's a travesty that your own information is unavailable to you for free, but that's another story!
<<<***WARNING***>>>
Do ***NOT*** contact any firm that offers so-called free credit reports (they advertise in newspapers, magazines, TV, etc). They will cost you something down the road, and, worse, you will be giving them your personal info, which, of course, you shouldn't, whereas the three firms listed at the FTC.gov website are legit and truly free! |
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