entry on credit report
Date: Wed, 11/14/2007 - 15:15
When a collection agency buys the debt and begins to report it to the bureaus, does the 7 years apply from the date of last activity of the original creditor, and it doesn't start over when the collection agency starts to report it?
I have several entries on my credit reports that are from collection agencies, but I think that the 7 years are up if they cannot "start over" when they buy the debt.
Thanks!
It goes by the date of ur last deliquency. Some CA's are known t
It goes by the date of ur last deliquency. Some CA's are known to reage a debt but that is illegal... dispute the CA's date with the bureaus.
Hope this helps a little,
Ang
I just posted this a few mins ago... maybe this will help more:
I just posted this a few mins ago... maybe this will help more:
Hope this helps a little more,
ANg
yes! that is what i am talking about- I just do not have any pro
yes! that is what i am talking about- I just do not have any proof that they have re-aged the debts to keep them on there longer- the original creditors are no longer on the credit report, and I have not made any payments!
I have a feeling this may be a challenging situation!
Sure Granny! Ok ur first date of deliquency is when u miss ur f
Sure Granny!
Ok ur first date of deliquency is when u miss ur first payment. That date should NEVER change, no matter how many times ur debt is sold to CA's. Ur last date of deliquency stays the same.
That make sense? If not plz ask anything ud like to know and i'll try my best to explain it to ya.
:D
Ang
Well woudn't that be a way to prove it?? THe OC is NOT on ur rep
Well woudn't that be a way to prove it?? THe OC is NOT on ur report any longet yet these CA's are? Sometimes if u just dispute it they will remove or correct it!
Also, cajun has MUCH more knowledge on this and will be around to answer u.
:D
Ang
Sol for credit reporting is controlled by federal law and with t
Sol for credit reporting is controlled by federal law and with the exception of New York,it states negative items remain on reports seven years from date of first major delinquency.New York state law removes theirs after only five. Nothing can change this date except for a rule 5000 reage by original creditor. In 2003 the amendment gave the original creditor a six month window dealing with chargeoffs so if they use this window it could be on report up to 7.5 years.All this information in posted in clear text in the Fair Credit Reporting Act at www.ftc.gov.
