Will it all fall off after 7yrs? What to do?

[Slingmama5]

I don't know where to start, but here goes....

5 years ago we decided to just drop everything (stopped paying/using cc). We filed for forclusure on a home that we could not afford and chose to move into a rental house that cost 1/3 of what our mortgage had been. We made major changes. We lived (and still live) on a cash basis, using only cash and living within our means...no credit cards, etc...
We have made no new debt. The only other debt that we pay besides rent and utilities is my student loans. Those are never late.

Now to go into the past....
Like I said we just dropped everything and ignored it all. Didn't answer the phone and didn't pay anything. We endured a forclosure and re-possed car and felt like well everything is already bad, we'll just drop the rest (three credit cards about $5k each) and choose to live differently never to make new cc debt again.

I'm proud of us for not making new debt and living within our means. We stick to a strict budget and live frugally.

I'd like to buy a house again one day (in the next 5yrs) and now would like to work on repairing all the bad credit.

We have very little money (nothing to give up to make more money). We own our car, no TV, have thrift store furniture, no cell phones, no play things, and rent a very inexpensive home. Plus, we have 5 children to care for.

So, how do I start to repair my credit when I have no money to make payments with. I mean I seriously have $20 to put towards debt and we have soooo much of it on paper.

I wish I could just go on like we have been and let it just fall off.

Will our forclosure fall off after 7yrs or will it be on their forever?

We never get phone calls about any debt we owe anymore. It's been about a year since they last harrased us.

Most of what is on there is sooo old (5/6 yrs old) that I'm scared to mess with it afraid to awake a sleeping giant.

What would be the best road to take here?

Leave it and see if it falls off in another year or try and pay off a 50k forclosed house debt, 7k re-po'd car debt, and numerous other small debts?

[chane]

Making payments will update the accounts and make them look like they just happened. It will reset the dates and they will stay on for 7 more years.

Start here and read as much as you can on this forum:

Basic Step by Step Beginner's Guide to Credit Repair