How do I remove my name from this collection account?

Question

I have a collection account for about 10 years now. Different collectors have been calling me throughout the years. Recently, there is a new collection agency calling. I thought that after 7 years it was to be removed from my credit report. I know that it was my bill to begin with, but after all this time and wasted phone calls, I thought that I finally beat the system....j'k.

Answer 1

They can keep trying to collect the debt, but the credit bureau must stop reporting it on your credit after 7 years. If it's still on your credit, you can dispute it and have it removed.

Some states also have a statute of limitations, where if a debt isn't collected within a certain amount of time, they lost their chance. You'll have to check with your specific state and/or an attorney for advice on this.

Answer 2

That is not correct. A bankruptcy will fall off of your bureau after 7 years of being discharged. Accounts that have been inactive 10 years should automatically fall off. If the collection agency is still attempting to collect the debt then no matter how old it is they still have that right. They are still reporting the account status to the bureau then it may never disappear. If it was paid then it would become "inactive" but also show "paid". It should not disappear until 10 years after that inactive date and should show as paid until then.

I understand your concern though. Most collections would have disappeared by now because the agencies have given up and wrote it off as a complete loss. This must be extremely important to collect or they are really good investigators. You've given them reason to keep that collection open. Whether it be that they've verified your address, you've answered phone calls, or you could have sent them money at some point....something is giving them hope...they know you haven't fallen off of the face of the earth.

An upside to this is that the account that originally defaulted should be inactive as of the sale date to the collection agency and will now disappear off of your credit report. Unfortunately, I cannot give you any positive outlook for that collection. Try negotiating a payment plan with them....this will at least lessen the amount of harrassment calls. You did make a promise to pay 10 years ago and they have the right to hold you to it for as long as the want.

Answer 3

After 7 -10 years the debt should be removed from credit report, and no longer affect you credit rating. But where I live the company or collection agency can continue to try and collect as long as they want but you are under no obligation at this point to pay. You can send a cease and desist letter to the agency trying to collect. This should stop collection attempts temporarily, (But as we all know collection agency don't always follow the laws.)
Then they will more than likely turn it back over to the original collector.

You could also check out this website it is Federal trade
commission facts for consumers. http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm

Hope this helps

Answer 4

Your credit report can only show collections for 7 years from teh date of the ORIGINAL DELINQUENCY. So, say you had a late payment, and eventual default, on a credit card in May of '93. No matter how many collections take it on and sell it and how many times it goes to a 'new' place, it can only be on your report until May of '00.

There is a statute of limitations on collecting debt as well-- usually the same 7 years. But if you talk to them and send them any payments, this can mess up the 'clock."

Honestly, I would pay my debts regardless-- Karma and all that-- but be vigilant with my credit file and be sure its not on there.

Answer 5

The mortgage consultant is closest to correct. The Statue of Limitations only prevents them from suing you to collect. They can try to collect forever if you don't pay.

EDIT:
Under the Fair Debt Collection Practices Act, you can tell them in writing not to contact you except to inform you of Legal Action (aka suing you) that they have taken. After the Statute of Limitations has expired, that leave them with no means to collect. Just don't try to do business with them again.