I owe a credit card for 10yrs, will i have bad credit forever?

so i took out a credit card around 97-98!I stayed in debt because of employment problems!My question is after 10 years of being in debt with that credit card.Will i have that credit card debt forever.will i have bad credit forever?Or i heard that after 7 years the debt will go away!Please help me!

I owe a credit card for 10yrs, will i have bad credit forever?

Credit reporting bureaus report bad debt for about 7 years unless there are extenuating circumstances.

I owe a credit card for 10yrs, will i have bad credit forever?

here%26#039;s what you need to know...first, the 7 year period starts from the DATE OF LAST ACTION, not when you opened the card...if its been inactive,dont do anything until you check your credit bureau report (all three) and look for the column that shows DOL (or DOA) which is date of last activity or action...then count 7 years from that date...if its been over 7 years,write the credit bureau a letter asking for it to be removed;date the letter;and send it certified mail-request signature. the credit bureau will check it out and will remove it withing 30 days...

ps- you can get a free copy of all 3 of your credit bureau reports every 12 months at www.annualcreditreport.com...or go to the federal trade commission website (www.ftc.gov)

I owe a credit card for 10yrs, will i have bad credit forever?

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I owe a credit card for 10yrs, will i have bad credit forever?

Hi,

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