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Jwaters478

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To pay off old debt or just let it fall off credit report?
I was irresponsible with my credit in my early 20s, but now 10 years I am ready to get back on track. I pulled my credit report and I have about $800-1000 of past credit cards, cable, cell phone etc. bills that will fall off within the next 3-5 years. As well, I already have a couple of credit cards that were opened within the last 6 months to create some new GOOD credit on my report so I won't be looking for more credit cards or car loans for a while. My question is do I pay those bills (because I DO owe them) and risk starting the clock over on the 7 year reporting on my credit or do I just let them fall off in time? I do owe the money and I want to set the record straight but if it will not bring the credit up, or wipe the slate clean-ER than it is now then, what is my incentive to actually do the right thing and pay my debt?

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Unpaid balance

I believe that if the balance is unpaid it stays on your credit report.  It only falls off 7 years after the debt has been settled.

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