debt resurfacing
Date: Thu, 01/18/2007 - 13:45
I was too trusting in my last relationship. We had a mobile home together and when we split, I let my ex keep the home. My ex lived there for 2 years after I had left and my ex's job relocated to Colorado. Well, without my knowledge, the home was repossessed. This happened six years ago and now the company who had the original loan went bankrupt and some other company picked up the loan. Now it turns out that it will not drop off my credit until 2013. I was secondary owner and I don't know how the loan can re-establish itself as current under an entirely different company. I have been trying to get my life back and this just brought me back to seven years earlier. Is there something I can do?? I have worked soo hard to bring my score up and this doesn't seem right. The original loan would have dropped off at the end of next year.
Regardless of who owns the loan, it is the same debt. Same open
Regardless of who owns the loan, it is the same debt. Same opening date, same balances, same statuses, and same delinquency dates. If they are re-aging the account as of the date they bought the debt, then it is not accurate under FCRA. Dispute it first with the bureaus. If that doesn't work, send them a letter saying that they are not allowed to re-age the account simply because they bought the debt.
