Had a car repo'd in early 2000 and have not paid any money since, it was charged off in June 2000. The statute of limitations is up (6 yrs, for state of Maine). I understand that 7 years after the charge off occurs the bank has to remove it from the credit report. However a collection agency just called on it last evening, they do not own the debt are just attempting to collect it. If we refuse to pay them (as is our right being that the SOL is up), can the collection agency re-report it to the credit bureaus or are they unable to do so due to the fact that they do not own the debt? if they do report it does it have to come off in June of next year (when the neg. reporting deadline is up?) have heard conflicting information and need a clear answer, trying to get our credit square before home purchase....Thanks!
2006-08-08
07:31:56
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14 answers
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asked by
wilson5182004
1
in
Credit