collection agencys buying old accounts?

Did they call you and tell you that? I would send them a validation letter. Because I believe (correct me if I am wrong) the only way it can be on your credit report after seven years is if you pay them something. Otherwise it is seven years from the date of last payment.

Someone else will be along shorthly that knows more about this. So please keep checking back for that info.

I think that you are right puddle...junk buyers..they really think that people will believe this crap and sadly enough most people do.

Hang on someone that knows more than I will be around to answer this question.

ladybug

I would keep a copy of that report that shows the 2001 charge off, if the ^$(#&$() junk debt buyer does put it on your report as a new debt that is called reaging and is is a violation of the fdcpa if the CA does it and a violation of the FCRA if the CA or the OC does it.

Heres some links to the FTC that deals with reaging:

http://www.ftc.gov/os/statutes/fcra/johnson.shtm



http://www.ftc.gov/opa/2004/05/ncogroup.shtm

I really wish you had that threat recorded.

Not legal. It can only stay for the seven years following the date of charge off. Send a DV letter.

1) Yes, they can buy your account (which they usually do for pennies on the dollar); and they can attempt to collect that balance from you.

2) HOWEVER, it is not legal for them to "re-age" the account. When/if they report it to the bureaus, they are legally obligated to report the original account opening date and the Date of First Delinquency (DOFD) -- they can only report the account for 7 years after DOFD, and buying that debt doesn't change the date when that account became delinquent. So in other words, NO they cannot report it for another 7 years.

Send them a DV letter Certified.