Statue of Limitations & Credit Report
Date: Mon, 09/28/2009 - 14:27
Question: Can this new agency place another negative mark on my credit report for a dept that has past the statue of limitations (and also was previously on the report and now has dropped off)?
Thanks!
If the debt belongs to you, you may be still morally responsible
If the debt belongs to you, you may be still morally responsible for paying it off.
Anyway, if the collection agency tries to reintroduce the account to your report, you may need to dispute the entry with the CBs. Keep a copy of the credit report where the account is not showing.
On credit reports, it says that the statute of limitations is me
On credit reports, it says that the statute of limitations is measured from the first delinquency, i.e. the first missed payment that caused the account to be reported as delinquent. Is the statute of limitations measured differently for collection activity than it is for credit reports? I have heard conflicting opinions on whether or not making any type of payment "restarts the clock" regarding collections.
The dept is unsecured credit card. The statue of limitations is
The dept is unsecured credit card. The statue of limitations is 6 yrs and its has been 8 yrs. The question is can this new agency that purchased the dept legally/or have the right to post a brand new negative remark. If they can then disputing may be difficult. If legally the mark cannot exist due to statue of limitations then if something does get posted i will be able to remove it.
Does anyone know?