Will debts over 7 years old be removed from my credit report even if there still unpaid?

Question

I am disabled due to a drunk driver so I am on a fixed income. I have a few credit cards that have been charged off and some medical & utilities that are also outstanding. They are between 4-6 years old (since delinquent). Since it is not possible for me to pay them would they go away after 7 years?

Answer 1

Yes. The Fair Credit Reporting Act states that delinquent accounts can be reported for a maximum of 7 years from the date of first delinquency. This date cannot be LEGALLY reset. Any company who violates the FCRA is liable for $1000 per violation plus legal fees and any damages caused.  

Answer 2

check the sol in your state. junk debt is bought and sold everyday. many times after sol. if thats the case send sol letter. if you are disabled you are judgement proof unless you own property other then your primary residence.  

Answer 3

if its unpaid then it may go off your record. But if that bill is sold to another company and they dust off your record it may very well show back up. I would suggest on old debt such as these you settle the debt. Example: If you have a 1000 dollar bill and its been 7 years. I would get up 300-400 saved up and call them. Explain to them what happened and offer this amount to settle with them. If they agree get it in writing before you send them the check. Once you have this in writing and a return check staple them together and hold on to it for the rest of your life. Somewhere down the line it will come back up. Do NOT give them access to your bank accounts. Most of the time they have already written you off and consider that money gone. So more than likely they take what ever you offer them. But make sure you have the money.