Morning star is right, seven years and it will go away, however in the meantime you will probably have to put up with the harrassing phone calls and letters, these usually start about 6 months to one year before the statute of limitations run out.
You can find out how to deal with them on the debt forum, I recently joined it and found there is a ton of information there on this very issue, dealing with the collection calls and the harrassment that goes along with the collection business.
You can attempt to dispute it with the credit bureaus. Otherwise, you have to wait 7 years.
I'm not privy to the FICO algorithm, but I can tell you that as time goes by, the negative effect this has on your score diminishes.
Morning star is right, seven years and it will go away, however in the meantime you will probably have to put up with the harrassing phone calls and letters, these usually start about 6 months to one year before the statute of limitations run out.
You can find out how to deal with them on the debt forum, I recently joined it and found there is a ton of information there on this very issue, dealing with the collection calls and the harrassment that goes along with the collection business.
As the year passes by the negative effect decreases. You can dispute it with the bureaus.