If something was never paid and the 7 years comes and the item then is removed can the item pop up again. I had heard that if you were buying a house that they make sure all your bad debts even if they are 15 years old need to be paid? My scenario is this: I have unpaid collections that will be at 7 years in 2004. I am not going to be taking out any loans or applying for any cards in the next to years. Should I wait and let it fall or pay it for fear of it coming back later? Thanks,kim
Short answer - Nope! Some items can legally be on your report after 7 years. Items like Student Loans, Tax liens etc... but most items can only be reported "LEGALLY" for 7 years. That is not to say that it CAN'T be on your report though. If you disputed and it was removed for 7 year reporting limit then it should not re-appear and should not affect your purchase. I would make certain that you know everything currently reporting BEFORE applying, by getting a copy of all your reports before you go to seek a loan. -Peace, Dave
