Question by melagumu: Does bad debt stay on credit report after 7 years or is it supposed to come off?
I wonder if this 7 year rule means that creditors will ignore items over 7 years or if the FICO score doesn't get affected by this older bad debt as much or if it actually gets deleted from credit report.
Best answer:
Answer by StephenWeinsteinThe 7 year time frame does not apply to everything.
For some things, it is really 7 and 1/2.
For some bankruptcies, it is ten years.
For unpaid tax liens, there is no time limit; they continue to affect your score until you pay them or die.
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