No. of Recommendations: 1
I have never paid a credit card late - my problem is just that I am too much in debt. On the other hand, I have a close friend who just stopped paying his credit cards back in 1993 (didn't declare bankruptcy, just stopped paying). He seems to think that after 7 years they will stop reporting him as having bad credit. He has since gotten a couple of credit cards with fairly high interest rates, but unsecured. He has also paid off a couple of car loans since then. Is he really going to walk away from this unblemished and start afresh like an 18 year old would? Seems to good to be true. Kind of upsetting since I struggle to send in those payments each month but always do it.
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