How long does a default credit card stay on your credit history?

I lost my job 5 years ago and had 2 credit cards that I defaulted on. I tried to set them up on a payment plan but after a while couldn't even make those payments. They're still trying to collect. In addition to those 2 credit cards I have thousands of dollars in other bills that have built up over the past few years. I'm trying to decide if it will clear off my credit in a couple more years or if I should file bankruptcy.How long does a default credit card stay on your credit history?
You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments - buildcredit.ifastnet.comHow long does a default credit card stay on your credit history?
No the lenders will sell the debt, the collection agencies will start the process all over. Just declare BK and get a fresh start
Credit card defaults (and other defaults) stay on your credit report for 7 years beginning with the original default date. This time period cannot be restarted regardless of later payments on the account...or new collection agencies buying the debt. People always confuse this time period with the statute of limitations, which can be reset by making later payments. So if you defaulted 5 years ago, they'll stay on your credit reports a little over 2 more years.



The way pay off defaulted credit card debt is to settle for less up front..like 25%. Get all terms in writing, then pay. This way the debt is resolved. Avoid getting on a ';payment plan'; for credit card debt that has already defaulted....it won't help your credit as the charge off notation stays for 7 years regardless of what you do...Also, any monthly payments you make to debt collectors will likely go down a black hole of high interest and fees...so you could pay on the debt forever and it would never go down....also, paying like this sets you up to be sued.



Unless there is confirmed legal action pending on your debts, then you may not need to file for Chapter 7. Chapter 7 stays on your credit report for 10 years...and once you file, you won't be able to file again for 8 more years. Chapter 7 should be reserved only for a financial emergency.
Consumer credit defaults remain on your credit history for 7.5 years from date of default per the FCRA.
Derogatory items age off your credit report 7-1/2 years from the date of first default. This is per the FCRA and nothing restarts that clock.
As stated by CatDad, it should be your last resort. If you have no assets, they can not take anything from you. It's also possible that the SOL ran out any they can not sue you.
Seven years.



If you file bankruptcy, then the defaulted credit cards still stay on your credit history for seven years. Filing bankruptcy does not remove them.



Filing bankruptcy may stay on your credit history for up to ten years. Having a bankruptcy on your credit report is worse than having defaulted credit cards on your credit history. Since you already have defaulted credit cards on your credit history, if you file for bankruptcy, then you will have both the defaulted credit cards and the bankruptcy on your credit history.



Filing bankruptcy will make your credit history worse, not better.