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Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I just found out that my debt is 4000. if I pay this off how

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I just found out that my debt is 4000. if I pay this off how long will it take for my credit to be restored


If your debt is $4000,


and you pay it off, that would help raise your credit, however, if you have paid the balance on time,


your credit would not have been lowered due to the balance alone,


if you have missed payments,


that would reduce your credit,


and paying off the debt, would increase your score within 6-12 months,

Customer: replied 3 years ago.

I originally owed 40,000 of credit card debt that are ovr 10 years old. they do not seem to be appearing on my credt report anymore. do they fall off after 10 years

They may have been removed by the statute of limitations or charged off by the creditors, since they over 10 years old that may be issue.

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