Quote:
Originally Posted by deadgoon
This debt will not go away until you pay it off. Once you have paid it, it may drop off your credit report after 7 years, but it will remain on there as long as you owe them even $1.
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It will remain as a debt until fully paid and cleared. Sever years after that clearing date, the debt will revert to a "cleared history" with that lender; but since it's 7 years old, nobody can use that history item to deny you credit in the future.