It should only be 7 years, but you are defaulting on a contract, presumably a timeshare. Have you tried selling it on the open market or through timeshare brokers?
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of California. Responses are based solely on California law unless stated otherwise.Ask a similar question
A defaulted collection account can be reported for up to 7.5 years on a consumer credit report. If you file bankruptcy, the bankruptcy filing can report for 10 years. If a judgment is entered, it can be reported until it becomes uncollectible or is satisfied, which can be many years.
Is there a reason you are worried about credit when you struggling to pay the bills? I suspect you have other bills that are a struggle and your credit and credit score will be much lower for many years to come. Best advice for many Californian consumers in this struggle is simply cut out bills for personal debts and pay the most pressing needs of utilities, food, and rent. My web site reviews in videos and articles available options are if sued by a debt collector.
Robert Stempler (Please see DISCLAIMER below)
NOTICE: The above statements are provided for general information purposes only and are not intended as legal advice or advice of any sort for a specific case or legal matter. If you do not have a signed attorney-client fee agreement with the Consumer Law Office of Robert Stempler, APLC ("the Firm"), then until such written fee agreement is provided and signed by both a prospective client and attorney for a particular case, neither Mr. Stempler nor the Firm will represent you nor will they be your attorney in any matter and you remain responsible for retaining your own attorney and for compliance with any and all deadlines and for any statutes of limitations that may pertain to potential claims. Comments made on a public forum, such as Avvo.com, to not have any confidentiality because others may read them. If you desire a private consultation with Mr. Stempler that is confidential, please go to www.StopCollectionLawsuits.com and submit a free eCase Review.Ask a similar question