Which debts should we pay?
My husband and I are in the process of paying off some of his old debts.
Looking at his Experian report- in the status details part of the different collections is says: this account is scheduled to continue on record until such month and year.
Does that mean these collections will be wiped off his report and no longer hurt his credit score? If that is true, should we even bother to pay those accounts that will fall off during this year?
I know that these things can stay on your record for 7 years, but the oldest account is only 6 years old.
Any advice would be helpful.
As far as I can tell, a majority of the debts are medical and unpaid cell phone bills. There is one credit card from 2004 that has been charged off and transferred (I don’t know what that means though).
Tags: 6 years, cell phone bills, collections, credit card, credit score, debts, status details