My boyfriend checked his credit and a Discover card debt is scheduled to come off his report in May 2009...?

Question

Should he just leave it be, or try to pay on it?

I don't really understand--When it comes off, only Discover card will know about it for future credit requests?

Answer 1

If "coming off" in 2009 means the 7 years has passed since he stiffed the credit card company, then after May 2009 his credit should start getting better.  They don't always take them off the reports, however.  It will probably take some effort on his part to get it removed.  If by coming off you mean they will "charge off" the debt in 2007, then that will remain another 7 years.  Charge offs are bad.  Look, they loaned him money in good faith, and he didn't pay it back.  That's bad.  I have a feeling this will follow him around for a while.  he should pay it back like he promised.

Answer 2

If he pays it  will remain on his credit report for seven more years. But, It will be marked as paid. And anyone who pulls the credit report will see that he has not paid a payment for seven years. If he does not pay it will come off his credit report. But,  he can forget about doing business with Discover again. If he decides that he wanted to do business with the company again but, he would need to pay the debt. And the debt would  appear back on his credit report.

Answer 3

Leave it.  It is probably way past the statute of limitations if it is due to fall off in less than a year.  The only way I would even consider paying it is if they would agree to delete the item off your credit report.  And paying it does not restart the 7 year reporting time.  If you made a partial payment to them it would restart the statute of limitations.

http://creditcardwarehouseonline.com