Profile picture for MBD4784

Will lenders be able to view any collections/charge offs that have "fallen" off our credit report?

My husband and I are interested in purchasing our first home in the next few years. Unfortunately, we fell victim to lay-offs and a miscarriage that resulted in a financial catastrophe. We are trying to pay off our old debts as much as we can but there are a few we don't want to touch since they are due to fall off our report in a year. My question is, will lenders be able to view those dropped off debts or are they only able to view what is on our credit report?
  • July 11 2010 - Lake Bluff
  • 0Yes

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Answers (1)

Profile picture for wetdawgs
Most (but not all) items disappear from the credit report after seven years.

"few we don't want to touch".  This is a very worrisome statement.  Be aware there is a statue of limitation on various types of debts that varies from state to state.  Simply showing or not showing on the credit report doesn't address the statute of limitations and whether or not the party who is owed can reactivate their request for payment.

  • July 11 2010
  • 0Yes

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