Write off debt loophole

One of the most important things to understand is how long debt stays on your credit report. This is important because your credit report is used by lenders to determine your creditworthiness, which in turn affects your ability to get loans, credit cards and other forms of credit.

In general most debt will fall off of your credit report after seven years.

If a debt is written off can it still be collected

However there are some exceptions to this rule. For example, some types of debt, such as tax debt and student loan debt, can stay on your credit report for up to 10 years or even indefinitely.

It’s also important to note that even if a debt falls off of your credit report it doesn’t mean that you no longer owe the money.

The debt is still legally yours, and the creditor can still sue you to collect it. However, if the debt is statute-barred, the creditor will have a much harder time winning a lawsuit against you.

So, how long can your creditors chase you? The answer is: it depends.

If the debt is still within the statute of limitations, then the creditor can continue to pursue you for payment. However, if the deb

after how many years is a credit card debt written off

after how long can your debt be written off