Waiting for Delinquent Debts to Fall Off Credit Report is not a Good Tactic


#1

Originally published at: https://www.clearancejobsblog.com/waiting-for-delinquent-debts-to-fall-off-credit-report-is-not-a-good-tactic/

Many clearance applicants who have delinquent debts, collections, or charges offs on their credit report believe that if they simply wait for the debts to fall off after seven years then all will be forgiven. Unfortunately, this rarely works because it is seen as a lack of responsibility and trustworthiness. If you enter into a…


#2

This is similar to my situation. I am assuming that my interim TS is rescinded in last March due to delinquent property tax account.
Is there any threshold on delinquent amount or the clearance gets suspended\revoked\rescinded regardless of how minimum the delinquent amount is?


#3

Even if the entry has “fallen off” of the credit report, I’m almost certain that there would still be some record of it somewhere, which could likelyl turn up during a BI.


#4

The problem here, as I see it, isn’t the debt or even the idea of waiting for it to fall off your credit report. Entries, good and bad, that age off of your credit report are not likely to show up in any investigation.

The problem that I see in the case described is that the debt was previously reported, the applicant changed his story and there was no effort to address the debt. This applicant’s problems were not all under Guideline F. There are issues with candor, honestly and personal behavior all wrapped up in a wad . . .