Expert Opinion

Dear Damian,

At no point will you extend any time frame with the credit bureaus if you do pay off the reported delinquent balances. They are set to fall off at a certain date and on activity will extend this.

I never advocate not paying your bills. As a small business owner and with clients as small business owners, I have personally seen companies go under from one customer not paying. All debt should be paid, regardless of credit or the statue of limitations.

That being said, once the accounts, provided that they are not judgments, expire on your credit report, they will be removed. This would then lead you to save some money.

Do YOU have a question for Melissa Douros? Email at melissa@dovcocs.com.

As the owner of Dovco Collection Solutions, Inc., Melissa Douros uses her eight years of being a collections specialist to offer advice and answer questions pertaining to debt collection. With running her own successful collection agency, she seeks to keep debt collectors accountable for their actions and in line with the law.

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