SEARS account still haunting me since 1996

Statute of limitations varies from state to state. Send the CA a debt validation letter (samples located elsewhere on this site) and check the SOL limits in your state as well. The CA might not legally be able to pursue your debt -- or they might. Don't pay on it until you're sure (if you do, you could wind up accidentally resetting the SOL clock).

The bad news is I already paid the balance in full not knowing the things I can do because a collection agent told me that they will delete the entry once I pay the full balance. Now that it is paid, they said that they will only change the status but not item.

Hi Jerry,

File a dispute with the credit reporting agencies and the debt collector. It's very very strange that a creditor would wait for 8 years before they charge off an account. It's probably a junk debt buyer and they probably bought it in 2005.

What is the name of the collection agency?

chrys

Now it will stay on your credit report until 2016.

I have to disagree with the 2016 date. FCRA reporting period is 7 years + 180 days from the Date of First Default. The only way that date could change is if the account was brought back to a current status and then defaulted on again. A JDB can only report the same DOFD as the OC. If you have disputed the tradelines and they have been verified by both Sears and the JDB (LVNV I would guess), then request and investigation under section 623 of the FCRA. They have 30 days to investigate and respond. If they do not delete the tradeline then sue them for $2500 per violation per CRA.

Ah yes, it would start over again if you made a *partial* payment on it. This person paid it in full.

Sorry for the confusion.

It wouldn't start over unless the account was brought back current which is nearly impossible for a CO'd account. Beyond that, there is no possible way for a consumer to reset the DOFD.