Delinquent debt it is removed from your credit after 7yrs. Is illegal if they keep reporting it after 7yrs?

Answer 1

Yes, bad debts on your credit reports are time-barred according to the Fair Credit Reporting Act to 7 years from the time of 1st delinquency. That means if a debt is sold again and again, this does not restart the 7 year clock. If you see a debt on your credit reports that does not belong, be sure to dispute it. Whenever a debt goes to collections, the agency MUST provide the DOFD so that the 7 year clock is at a fixed point in time.

Answer 2

not unless its a chapter 7 bankruptcy. then its on for 10 years. if its debt you have not payed on, after 7 years you need to play ball with the credit agency's and dispute it. you may need to make the credit collectors prove its past time to collect, and if they wont, then take legal action (sue them, its a violation of fair credit practice act) never say it was yours, and don't say you will make payments, when you contact the collectors, because that just gets the ball rolling again as far as statue of limitations

Answer 3

It is illegal if they illegal restart the "debt" statute (date of last activity)

If the debt is older then 7 years since last activity you may be dealing with a junk debt buyer.


Here is a very intresting article i found: http://www.expert-credit-advice.com/junk_debt.htm