Bad debt being sold and revolving?
Date: Wed, 05/05/2010 - 09:57
There is no limit on the number of times an account can be sold.
There is no limit on the number of times an account can be sold. It is seven years from the day you started being delinquent. But even if the SOL has expired, it does not mean that you don't owe the money, it just means that they can't take you to court to try and collect any more. They can still try non-judicial means to collect.
hi ddg99 i agree with ovlg attorney that there is no limit to ho
hi ddg99 i agree with ovlg attorney that there is no limit to how many time can a bad debt be sold off however with regards to your credit report it should be off your credit report in a period of atleast 7- 10 years in case not you can dispute that with the reporting agencies just check with them and make sure you do all this in writing
Um...no. It is 7 and a half years from the date of first delinq
Um...no. It is 7 and a half years from the date of first delinquency...NOT 7-10 years. Only judgments would list for 10 years. You need to send a letter to the credit reporting agencies and dispute the debt as obsolete.