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CA Bought Charge off Do I pay?


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Of course they can do it, its the junk debt buisiness and Sherman is a junk debt buyer, one of the biggest. They bought it, they can report it, BUT, the debt can ONLY stay on your reports for 7 -1/2 years from the FIRST delinquency that preceeded charge-off with the ORIGINAL CREDITOR. Collections cannot survive the obsolescence of the original debt, which is why you have to watch Sherman, they are know to illegally re-age debts. The date of last activity should NOT be different than what the OC reported.

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