monro411 wrote:In looking at his first post, it seems that he does not have the money for any PFD's. I would say go ahead with a BK because if he does pay off the accounts in the next three years, the lates will be still on his CR 10 years from now.How is it that you're concluding a late will still be there in 10 years?
monro411 wrote:I was meaning that if he decides to pay off in three years, wont it show up as paid after charge off. Wont that stay on the credit report for 7 more years. Or am I confused.
Just to satisfy my curiousity. If I were to file BK. Would all of these collections and such stay on my CR until the 7.5yr from DOFD point? Or does the BK wipe them off and only the BK show. WOuld the type of BK make a difference in this? Just curious, for potential future reference.