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Sandesea

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Debt written off as "bad credit"
I have an account that states the account has been written off as bad credit. Does this mean that the company has written this off on their taxes and my contract with them is void?

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When it is reported as that it really doesn't get you out of anything. The "statute of limitations" in your state to be sued for this type of debt will tell you if you are legally off the hook or not. As far as credit reporting time period (separate of SOL) most negative accounts have to be removed from your reports no later than 7 years from the time that the original account became delinquent enough to be sent to collections, seven years starts at DOFD. date of first delinquency.

There are sometimes ways to get negative accounts off your reports sooner, make sure to do plenty of reading on this subject as there may be things that you can do.

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