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Thursday, March 11, 2004
Paying Very Old Debts May Hurt Your Credit Report Bad debts over 7 years old are dropped from your credit report. So, if a debt collector contacts you, should you pay the debt?
It's quite possible that making a partial payment will revive an old debt back onto your credit report - and your score will go down! Making a payment in full to a collector could be just as dangerous, unless you know for a fact that it won't be put back onto your credit report. Make sure you know what will happen.
Paying the debt may help your conscience, but it could hurt your credit score.
3:13:18 PM 
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