Credit Charge-offs: Opened in 1999 � shouldn't those be OFF my credit report by now?

I made some bad choices as a college freshmen – opened two credit cards, charged a bunch, fell behind on payments and then just stopped paying. I was advised just to wait out the 7 years as the cards turned to collections and then charge-offs. The cards originally were opened in 1999 – shouldn’t those [...] http://bit.ly/oJ2l2J