If you don't pay a debt in full the company writes it off to profit and loss. This usually happens after 90 to 120 days delinquent.
Note that you are STILL liable for the debt, up until the statute of limitations on the debt runs out. If they obtain a court ordered judgement within the SOL, you're basically liable forever.
As long as they renew the judgement. In Ga it's renewable every 7 years or it pretty much disappears. If it's a sizable amount, count on them renewing always which means it's there til you die. (or file ch7) or pay it off, of course.
