Will outstanding debt disappear from a credit report after 7 years even if not repaid?

As a former debt counselor, I can say it will stay as an outstanding debt until it is resolved. You would have to pay it off, or declare bankruptcy, or resolve it in some other way. Then, seven years after it is resolved, it would go off your report. Be aware that some credit reports go back as far as ten years, though.

Laws do vary with this kind of thing. You can probably find a debt counseling agency in your area that can give you specific advise. Your local public library should be able to help you find one.

Good luck.

Studly: I am not, and have never been, a collection agent. I was a debt counselor. I helped people with debt problems figure out ways to deal with it. Sometimes that included declaring bankruptcy. Debt counselors are NOT collection agents and do not work with the same goals. I was working for a social service agency at the time.

Nothing you have pointed out contradicts what I said. There are several different ways to resolve a bad debt, and paying it off is only one way. Once the debt is resolved, it stays on the record seven to ten years (laws vary with locality).

Please try to read answers more carefully before being rude.

Will outstanding debt disappear from a credit report after 7 years even if not repaid?

It will show as a charge off which means it was a bad debt.

Will outstanding debt disappear from a credit report after 7 years even if not repaid?

OMG!!!! bamfchyck, did you keep a straight face when you were typing that crap!

Why can%26#039;t you collection agents tell the truth!

7 years!

Amended

Debt Collector, Debt Counsoler, it doesn%26#039;t matter. You still have your facts wrong.

Your debt stays on the credit report for 7 years from the date of delinquincy. And depending on the state you live in, the Statute of Limitations will take away all legal obligations to pay it!

Anyone wonder why I hate collection agents!