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The seven year reset happens on each negative remark's seventh anniversary, it is not a credit score reboot unless every negative report occurred on the same day. The people in dire financial trouble have rolling incidents, when they have to decide who they can afford to pay this month and a creditor gets left out, the seven year clock gets reset on that particular debt and the start counting down from day 1 again.
If you declare bankruptcy or flee the country I guess, then yes they would all be on the same "cool down timer". The seven year clock starts ticking on everything except most student loans. Many of those don't care about bankruptcy and can be extremely difficult to expunge without getting a court to agree to "undue hardship".
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