Settlement....Negative Credit Report???
Date: Tue, 09/29/2009 - 22:23
I am in the process of trying to settle a defaulted credit card account I defaulted on almost 3 years ago. As you would guess with almost 3 years passing, the OC sold the account to a CA and now the CA has filed papers and I was served a summons to answer the debt. I don't want this to go to court so I will settle this debt within the 30 day period before a court date or judgement is issued. My question is, When I settle and pay the CA, will the negative info from this account stay on my credit report for 7 years from now (2009)?...or 7 years from 3 years ago which was 2006 when I made my last payment with the OC?
The negative entry would stay on your report for seven years fro
The negative entry would stay on your report for seven years from the date you have defaulted on the loan.
