Is it worth it to pay back debts listed on credit report?
Date: Mon, 04/19/2010 - 12:03
Got me thinking, I don't plan on doing anything with my credit for years outside of getting a house years from now. Yeah, Id like to clear everything up, but at the same time I know the statue of limitations is 6 years and I assume the credit will naturally heal its self when those debts get removed after the 6 years.
If your not planning on doing anything significant over the 6 year period is it worth it to spend thousands trying to fix your credit?
IMO, itd be better just forgetting about credit, saving and spending in cash instead.
I know I haven't used a credit card in a couple years now.
If your not planning on doing anything significant over the 6 year period is it worth it to spend thousands trying to fix your credit?
IMO, itd be better just forgetting about credit, saving and spending in cash instead.
I know I haven't used a credit card in a couple years now.
Yes it is worth it to fix your credit. It is very unlikely that
Yes it is worth it to fix your credit. It is very unlikely that your debts will be removed after 6 years even if you haven't paid them. Creditors and collection agencies are as aware of the law as their legal departments can make them, and if you let those debts go unpaid you will be facing collection actions, possible wage garnishments, and judgment liens.
