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I stopped paying my 13 credit cards on August 2006 when will negative info no longer be in my credit report?


My understanding is the negative information is only allowed to be reported on your credit report for 7 years. So since I completely stopped paying my credit cards last August "06" should all negative information regarding these account disappear from my credit report in August 2013? or Since the credit companies continue to report each month when does the auctual 7 years start, is it when you last made a payment at all or is it when it's transferred to collections, or is it when it's made a charge off, please help. Thank you.

It's 7-years from the date of first delinquency.

So it would depend on how long the credit card companies took to declare your accounts delinquent. Most allow at least 90-days for that so I would guess around November or December of 2013. Source(s): Finance Manager for over 7-years .
you going to have debt collectors or junk debt buyers
sending it from collector to collector for the rest of your
life. You would be better of claiming bankrupcy

www.creditinfocenter.com
It would look better with in 7 years if you continued to pay.... having stuff payed off or showing that you are continully paying looks better on your credit report than nothing at all on your credit report. They are your debts and your best bet is to pay them off. This will help your credit now and make life easier in the long run. Good Luck
i think its ten years
It will remain on your credit until it's resolved...be it collections (and then paid), or if they charge it off (good luck on that one). Did you close the accounts? Or are they just charging you late fees and penalties for the last year? Why in the world would you do this to yourself? I guess you have your reasons...
It is "last activity". Usually will be the date of the last payment.

BUT you will almost definitely be sued, which will create judgments, which are worse then a charge off, and can be renewed until they are paid.

You promised to pay them back.... they gave you the money. Start saving up and making settlements.
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