'from the date a loan is paid off', meaning if the loan is not paid or a settlement arrangement reached, creditors will report to CCR indefinitely on a monthly basis, impairing your credit history. Even if the CCR only looks back 5 years, your profile will continue to be updated with negative credit info until the bank stop reporting the loan (something they have no incentive to do). In effect, there is no chance of a fresh start without negotiating with the Banks, and by doing so you always reset the clock on statue of limitations.
Happy to hear from anyone who has been informed to the contrary of course!
J.H