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7 years to be removed?


nydamon
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Hey All

First off, this is by far the most informative place i've been in a LONG time! Kudos!

Question: I have a collection on my credit, with the original creditor, set to expire past 7 years in a month or so. I have recently found out that it has been sold to a collection agency, who is reporting it as new.

Even if this is sold 10 times over, don't i have the right to have this removed after the statute of limitations is up?

How do you think i should proceed??

THANKS!!!!!

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You are confused. The SOL is a term used to describe how long a OC/CA can sue you. But yes after the 7.5 year mark from DOFD both the OC and CAs should all come off your CR. This doesn't mean they will stop trying to collect or they won't sue you. Check the SOL of you state and determine what the real SOL is. This way you will at least know if you have the SOL on your side against a suit they may bring against you.

You could dispute the listing as having the improper DOFD but I would check with the CRAs as to when that is. Date open is not DOFD, they are completely different.

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Please remember a law suit(judgement) will show on your report for 7 years from date of ISSUE. And it will hurt your scores alot. Contact the CRAs and see if the DOFD is being reported correctly. They will either know the DOFD or the date it is to be removed. See if they match if not dispute.

You could then send a letter to the CA and explain that it is a violation to reage accounts and they need to correct the issue.

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No worries, they cannot continue to report it after 7 years.

Write them a polite but firm letter to cease and desist since it is past SOL

and to immediately remove it from the credit bureau since they have damaged your credit score by re-aging the account. (not quite an ITS but setting them straight).

as you write that letter, in 1-2 punch approach write (not online) a letter to the CRA specifying that this debt is 'OBSOLETE' and that it has been re-aged by the CA in violation of the FCRA.

I did exactly that in very similar circumstances and it was all deleted in under 8 days and got a nice letter from the CA stating they were ceasing to collect on this matter. ALL GONE :)

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