I really appreciate OP's writeup. My own experience FWIW..
Defaulted on several cards back in 2015/2016: Paypal Credit, Capital One, Discover, BofA and Chase. Cap One and Discover both sued me in 2017 but couldn't serve me because they had my old address and I had moved. Both suits were dismissed without prejudice for lack of service. They never attempted to sue me again.
Fast forward to 2023, all chargeoffs dropped off my report and several months later I was back in with all but BofA and Chase. BofA will not approve me for anything and I haven't tried Chase because I'm WELL past 5/24.
Not sure about other lenders.
51-year-old licensed banking and finance attorney. Series 65 registered investment advisor. Southern California. I am happy to educate anyone under the age of 40 but I will not argue with you because you know nothing and I have better things to do. I have been doing this longer than you've been alive. If you want my advice, you can pay me with sincere gratitude or money, and not necessarily in that order.
