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If I contact a collection agency to validate a debt or negotiate a deal...will that reset the clock? Will the Collection Agency report to the credit bureau and change the last activity date to current?

Thanks in advance

In certain states a written agreement is required to reset the clock..not sure which states. It is up to the CA as to whether or not they report...there is no law requiring credit reporting.'

Paying on a collection account is not positive....any reporting will not report current....

Sub: #1 posted on Sat, 04/20/2013 - 04:58

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To add to what Soap shared, I read your dola question like this:

You are concerned that if you make an arrangement to pay the collection agency that it will change the reporting to a more recent date thereby allowing a negative to stay on your credit report longer due a more recent date being reported.

Your original lenders dola should not change if you call or make a deal with a collector. Any collection item that is showing separate from the original lenders, but that is related to the same account, should not be dated to remain on your credit report any longer the the original lenders. Unless of course the account ends up as a judgment from being sued, which shows in the public record section of your credit report, and has a fresh negative credit reporting life cycle.

Sub: #2 posted on Sat, 04/20/2013 - 09:21

MichaelBovee MichaelBovee
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