[mayday4379]

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WTF?

So if you rack up several tens of Ks of credit card debt, then skip town and come back 7 years later, they're SOL and you have a clean slate?

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Correct. It depends on your state and where the debts were incurred, but that's correct. The 7 yrs is from YOUR LAST PAYMENT.

So if you rack up $20K in debt in 2002 and send them a check for $100 in 2006, then the clock resets at 2006.

This is very difficult to do if you live in the US, but if you skip the country then it will work. However, you will continue to always get hassled by the compay you owe money too.