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statute limitations defaulted credit - Texas

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Z

zbassman

Guest
I live in Texas. In 1994 I lost my job and was unemployed for 11 months. At the time I was carrying quite a lot of credit card debt. During my time of unemployment I defaulted on all the cards. Subsequently the CC Companies wrote off the debt and sold it to collection agencies.

My question is how long will this appear on my credit report?

At this time is it better for me to make payment arrangements and pay off the collection agencies, or to wait until the bad debt drops off my credit report?

Thanks.
 


M

mykoe

Guest
Ha Ha Ha im in the same boat.
When i was 18, I bought a brand new car on a "first time buyer deal." I was a sucker and they new i couldnt afford the car. The car was reposesed within 4 months and my debt is 7000 on a 10300 dollar car. What the ?
At the time, I didnt understand bankruptcy and didnt think I owed the creditor a dime--still don't.
Anyways, Im wondering the same thing. will it all go away, or do i go bankrupt now because i aint paying a dime for something i dont have.
 

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