Quote:
Originally posted by eddie-executive
People say for 7 years it stays on your credit report even if you pay everything off, is that true? I haven't used credit in like 6 years don't like it. I have about 4k in charged off credit card debt from when i was 19. Now i feel like paying that off to get a bank loan for a business. If everything is paid off will it be difficult still to get a loan?
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the credit report stays even after you pay off all your dept. and before they allow you to get a loan, you need to atleast show good credit standing.
