A few days ago
I have a credit card and I have not made payment on it since 2001, will the bad credit rating disappear?
I have a credit card and I have not made payment on it since 2001, will the bad credit rating disappear even though I still owe the money?
Top 3 Answers
A few days ago
Favorite Answer
Macarthur’s park is melting oh that sweet green icing. Someone left the cake out in the rain.
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A few days ago
There are many factors on that. Since most credit cards are non secured credit they can’t file a judgement against you in order to obtain the money you owe them. However they will continue to report to the credit agencies and it will continue to be a black mark on your credit history. However, if you do pay it off then it will return to your credit history as a deliquint account. Check your credit history and see what it says on there about this certain card. It may say charge off or deliquint. Either way its not going anywhere for at least ten years.
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A few days ago
No. The loan will get sold off to collection agency and they will come after you for the money. Debt never really just disappears. if you truly owe the money, it will keep coming up until you make arrangements to pay it off or declare bankruptcy. Please make arrangements to pay off this debt as soon as possible. Check out advice about dealing with collection agencies in the credit section of Yahoo Answers.
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