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Getting Out of Debt on a Teacher's Salary
Getting Out of Debt When You Have No Money
Getting Out of Vehicle Debt
Disadvantages of Consolidating Credit Cards
Does Consolidating Credit Cards Hurt Your Credit?
Is Debt Consolidation Good?
How to Get Someone to Pay Off My Debt
Settling Debt
How to Consolidate All Debts
How to Pay Off Debts When You Don't Know Where to Pay
What Is the Best Debt Consolidation Company?
Where to Get Free Money to Pay Off Debts
When Not Paying Off Old Debts Can Hurt
About Credit Card Debt
What Is the Best Way to Consolidate Credit Card Loans?
How to Pay Down Debt
How to Get Out of Debt With Low Income
How Does a Debt Consolidation Program Work?
What Are the Pros & Cons of Debt Consolidation Programs?
How to Find Debt Cures
What Is Good Debt?
Do-It-Yourself Debt Consolidation
Do You Need Debt to Build Credit?
What Effect Will Debt Settlements Have on My Credit Report?
Can a Credit Card Company Pursue Debt After 7 Years?
What Is a Consolidation Loan?
What Types of Debt Can Be Garnished From Wages?
Consolidating debt can be done with a credit-card balance transfer or through refinancing a home mortgage.… More
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It hurts to not pay off any debt, but some old debts can be pursued by a credit card company through legal… More
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Summary: It hurts to not pay off any debt, but some old debts can be pursued by a credit card company through legal action. Look at a credit report to see how unpaid debts are affecting credit scores with help from the owner of a debt negotiation company in this free video on debt and money management.
Peter Repak has been in the debt settlement business for over half a decade. He and his wife founded the Clear Financial Company with a common goal of helping others to get out of...read more
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"Hi. My name is Peter Repak. I'm the owner of Clear Financial LLC, a debt negotiation company. When not paying off old debts can hurt. Well, it depends how old it is. First of all, not paying off debts itself can hurt. It's not a good thing not to pay off debts. So what you have to do is you pay it off. If it's over a certain amount of time, than things change. Let's say, just simply you were irresponsible and you didn't pay off your debt. And that's more than seven years. There's nothing too much anyone can do. If it's an unsecured debt, it's pretty much gone. However, if it's less than that, than everything changes. Credit card companies can actually pursue the debt. Even legally, they can pursue the debt. It is not really a position to be in. So what you really want to do, is you don't really want to have old debt. Again, it depends how old it is. If it's over seven years, I wouldn't worry about it so much. However, what you really want to do, is you want to pull your credit report and take a look at it. What is it that you have, and how negatively it's affecting your score. Again, having debt in the first place is a bad thing. So what you want to do, is you want to keep your commitment and pay it off. But if you get into trouble, you need to give us a call. My name is Peter Repak, the owner of Clear Financial LLC, a debt negotiation company. Thank you for watching."
eHow Article: When Not Paying Off Old Debts Can Hurt
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