http://www.reducecreditcardbills.com/credit-cards/i-have-credit-debt-that-is-over-five-years-and-written-off-should-i-pay-it/ Eliminate Your Debt From Credit Cards Fri, 18 May 2012 07:17:08 +0000 http://wordpress.org/?v=2.7.1 hourly 1 http://www.reducecreditcardbills.com/credit-cards/i-have-credit-debt-that-is-over-five-years-and-written-off-should-i-pay-it/comment-page-1/#comment-1318 FRANK R Thu, 14 Jan 2010 10:31:10 +0000 http://www.reducecreditcardbills.com/credit-cards/i-have-credit-debt-that-is-over-five-years-and-written-off-should-i-pay-it/#comment-1318 It is important to have all debts resolved. You need a written statement that debt is wrtiien off. Otherwise, the account may still be open. I am a mortgage broker. If You applied for a loan, and there were open, unrelsolved debts, it could hurt you. There are some loan types that would require proof that debt is either forgiven (write-off) or paid. That is especially true for FHA and VA loans. You will also need to tell why you ran into the problems, and why you chose not to pay, even when yhou could. Lenders do not look kindly on debtor that walk away from debts. If the debt is open, or is with a collection agency, it will probably NOT "fall off" you credit report. It will still be there. Whoever told you the debt would not appear is incorrect. It is important to have all debts resolved. You need a written statement that debt is wrtiien off. Otherwise, the account may still be open. I am a mortgage broker. If You applied for a loan, and there were open, unrelsolved debts, it could hurt you. There are some loan types that would require proof that debt is either forgiven (write-off) or paid. That is especially true for FHA and VA loans. You will also need to tell why you ran into the problems, and why you chose not to pay, even when yhou could. Lenders do not look kindly on debtor that walk away from debts.
If the debt is open, or is with a collection agency, it will probably NOT “fall off” you credit report. It will still be there. Whoever told you the debt would not appear is incorrect.

]]> http://www.reducecreditcardbills.com/credit-cards/i-have-credit-debt-that-is-over-five-years-and-written-off-should-i-pay-it/comment-page-1/#comment-1317 Bob D Thu, 14 Jan 2010 02:03:57 +0000 http://www.reducecreditcardbills.com/credit-cards/i-have-credit-debt-that-is-over-five-years-and-written-off-should-i-pay-it/#comment-1317 Let the debt fall off. It doesnt make sense but the credit system will hurt you more if you go back to pay it off then if you just let it fall off... Let the debt fall off. It doesnt make sense but the credit system will hurt you more if you go back to pay it off then if you just let it fall off…

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