"Bad Debt"

What is the name of your state? Colorado

As a teenager i had a couple of low balance credit cards. Back then i decided to just stop paying on them (don't ask why) and eventually, they stopped contacting me and stopped mailing and calling me. It has been many years since that STUPID decision. Now I am attempting to clear my name of any youthful mistakes, but those old cards are now listed on my credit as BAD DEBT. Can i reconsile with this lender to clear my credit report, or is it too late since it's been "written off"? And question 2: Am i in any serious legal danger since these debts were never paid (ex: law suit, jail time)

[cmorris]

Originally Posted by Need Help In MO

What is the name of your state? Colorado

As a teenager i had a couple of low balance credit cards. Back then i decided to just stop paying on them (don't ask why) and eventually, they stopped contacting me and stopped mailing and calling me. It has been many years since that STUPID decision. Now I am attempting to clear my name of any youthful mistakes, but those old cards are now listed on my credit as BAD DEBT. Can i reconsile with this lender to clear my credit report, or is it too late since it's been "written off"? And question 2: Am i in any serious legal danger since these debts were never paid (ex: law suit, jail time)

How old were you when you got these cc's? If you were a minor, you can't be held responsible. If you 18, different story.

When (month and year) did you stop paying? The SOL in CO for open accounts (cc) is 3 years. Source: [URL=http://community-2.webtv.net/YCHANGE/STORAGE/page16.html]http://community-2.webtv.net/YCHANGE/STORAGE/page16.html [/URL]

As far as the danger, if the SOL has run out, you are free and clear. If it hasn't, you can be sued. However, if the balance is low, it depends on the owner of the account. BTW, you CANNOT go to jail over debt.

Respond to the above questions and you can receive more help.

[Tayla]

cmorris has given valid advice. May I add to that in saying: The debt ( if valid) can stay on your credit report for 7 years and 180 days from last known payment. There are ways of disputing inaccuracies on credit reports but it sounds to me that you are the rightful debtor of these accounts.