Answer: -usually after 7 years, but they still keep a record of it and have options to extend the 7 years. just become rich and you won't have to worry about creditHow have you managed to get away with not making payments? Are they not chasing you constantly? Which company is it? -No. The company will eventually sell it to a collection agency, and the you will have 2 bad ratings on your report. And a collection agency on your rear. Also, the agency's usually pull your report alot, and that can also reflect badly.You should call the company and try to work something out. Some will cut the balance in half, or less, if you can pay it all at once, or try to make payment arrangements.Even if they want more than you can afford, try to send something every month and keep a record of it, in case you need to prove to a lender that you are making payments. -in my opinion, your acct was closed in 2002, and sold to an agency for collection.the bad rating will stay with you for a min of 5 yrs.now, if......if.....you have not been contacted bya collection agency IN 2002, and the company has forgotten to contact you,by next year, at the latest, you may challenge the company if your credit ratings show you have a balance owing.