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confused about 7yr law


shinyrims
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1. ok, after the 7yrs are up I know the account falls off my credit report, so can it still be collected from or placed back on my Credit report by another CA that buys the account?

2. I have several accounts that are with a CA, the OC is still on my CR (charged off) do I still ask vor verification from the OC?

:confused:

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Accounts are suppose to fall off your report in about 7 years but some take 7.5 years.

If you owe somebody money, they can still try to collect until you are old and gray but they can not report. Some will still try to slide a quick on in on your report....that is why you should always check your reports and keep up with old credit reports. Collections agencies make money off of lying.

Does the OC have your account balance as $0? And the CA have an amount? They are allowed to do that. If the OC and CA both have a balance...you should dispute both.

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Does the OC have your account balance as $0? And the CA have an amount? They are allowed to do that. If the OC and CA both have a balance...you should dispute both.
Close, but not quite.

If the OC still owns the account, then both them and the CA collecting for them can report.

If the OC says $0 balance and "sold to another lender", then they no longer have any interest in the account...but, can continue to report for 7 years if its in the negative section, 10 years if its positive. If a CA is reporting also, they may really be a JDB, in which case you might have a third TL relating to that account...a CA reporting who is collecting for the JDB.

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