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For Employment purpose, Should I pay off debts that are 4 years old?
I have two credit cards debts that are around 4 years x months old, and reading a few posts I think maybe I made a mistake. I paid one off in full, but the other I've yet to contact and seek guidance.

I don't care or want to buy/finance a car or house. I could care less about getting an unsecured credit card or loan. The only reason I want to fix my credit is the simple fact I've been denied three jobs with written proof, they won't hire me because of a rocky credit history.... no they didn't give a chance to explain myself and one, I was upfront about my credit history.
overall view:
1 Tiny bank account debt- charge off & paid 1 yr later ( 3 years ago )
1 repo- about to fall off my history
1of 2 credit cards-charge off- paid as of today
2of2 credit card haven't contacted @2 years till drop off
1phone bill-charge off & paid 1 year later ( 3 years ago )

It's Currently 8/23/2015 and the cards both would be off my credit report approx. 5/2017. I read a paid debt is better than a non-paid debt, then of course after paying I read that the clock just restarted and my "Paid debt" gets a brand new 7(.5) years on my report......

I have a great/solid work history...just not salary-wise, my education history is good and getting spruced up with more certs,degrees, and specific field experience..ect. Clean/awesome background.

Only issue is during the recession my Wife and I lost our jobs at the same time and re-cooped with low paying jobs and could not keep up. I understand we made some wrong choices on who to pay what, but not being able to get a decent paying job ( I'm talking about anything above 30k/yr ) is mind boggling. I'm hoping to start a new job hunt soon, but very discouraged about the past.

I'd love any input on the credit card debts or any other your willing to throw my way.

Thanks in advance for the assist, it's very nice to have an open forum to get advice.

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Paying an old debt does NOT reset the clock on the reporting time. The information that you've read is completely wrong. Nothing restarts the credit reporting time period. Paid negative accounts do look better than unpaid negative accounts, but the fact that you have negative accounts period may be a problem with some employers. The whole topic is subjective and will vary from employer to employer as to if the accounts being paid will help you.


If you can trust yourself to now use credit responsibly, then you should get some new lines going to add some positive information to your reports to help increase your credit score. Once again subjective, but to me a credit report showing nothing but negatives would look a lot worse than a report showing current lines of credit paid on time with some old negative accounts in addition to the positive.


The best thing you can do is a lot of reading on the topic of credit, there is a lot of info out there and there are a lot of things that you CAN do to improve your credit. Start by doing some research on how to write a "Goodwill Letter" which is a letter asking a creditor/debt collector to remove a negative account that you have paid from your credit reports. Also, start with some reading on "pay for delete agreements" to learn how to handle the debt that you haven't paid yet. Then keep reading on the rest of the topics.

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Thank you

Thank you for your input!

  I've been working on the "Pay for deletion" method infact I was a little thrown when I paid the one CC I requested something in writing. They were very nice and stated that is something they do not handle, it is something " I " will need to take up with the credit bureaus. In worse case I figured it will be paid, and I can send a "Good faith" letter to original business. Also to retort, I've become a lot better with credit, I have a credit card that I use 30% and pay if off in a timely fashion. I have a few accounts, personal loans/auto loans/credit cards ect... that have paid in full and never missed payments. My credit score is just fine... it's just the small time frame when their literally wasn't enough money to pay a credit card. This is what I'm trying to resolve in the best possible manner so in the future an employer won't just take a look at my delinquent history but instead look at the over all. That's my goal on where I would like my credit report/history to be.

Thanks Again!

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