if a debt is sold to a collectionafter seven do they get seven more years to collect?

Answer 1

In the U.S. Pretty much! they can keep hounding you.

Somestates are more restrictive, but you can tell them not to call you ever again and they must comply. Very few states will garner your wages and if it is a medical debt, it won't even hurt your credit much. If the debt is legit, you should try to pay something on it. they may tell you that there is a set minimum, but remeber, they are the ones who set it. they MUST take any regular payment you send, regardless of what they tell you. Collection Agencies are not above playing hardball and they skirt or break laws routinely. Not all, but many do. Play hardball back.

good luck, pay it if you owe it though, even if it is at $5-$10 a month. don't miss a apyment though or it will reset the date on the debt. it is better not to pay (for you) than to restart the statute on the debt.

Answer 2

No, under the Fair Credit Reporting Act when an account goes to collections the date of 1st delinquency MUST be provided. That is, when the account first went delinquent with the original creditor, not when the collection agency received it. The 7 year clock starts 180 days from that date.

Let's say you take out a loan 1/1/2000 and never make a payment. It's charged off and sold on 6/1/2000. The DOFD is 1/1/2000. The item cannot remain on your reports no longer than 6/1/2007, no matter who has the debt.

Answer 3

Jeffery well yes and no.
Yes they can still collect but it went to someone that bought it for 2 cents on the dollar. they can keep passing it around threaten you with law suits ect getting you do pay anything, by the way even paying a dollar will reset that 7 years.
now the NO, this debt is probably passed the Statue of Limitations that mean they cannot sue you, BUT there are some states with 10 year SOL, you need to google SOL by state and find out what type of debt car loan are as written contracts, credit cards open ended.
It falls off of your credit report after 7 years of the 1st late, that's when the SOL starts too.
now if you are passed the SOL send them a letter stating that and to never contact you again, if they do you can sue them
cheers!

Answer 4

There is no limit on how long a collector can collect. The same collector can pursue it for longer than 7 years, or they can sell it at any time.

The debt itself can only be pursued in court up until it has expired through your state's statute of limitations on written contracts.

Selling a collection account cannot extend its life on your credit report. This has happened however, and several collection agencies have been punished for this illegal behavior.

Answer 5

No, once the collection agency gets the debt, they will try for some time (?) to collect, they will pursue it, so they can get their
percentage of what they can collect from you.

Usually in the U.S. it is reported on your credit report, and the c. agency generally stops within a couple of years, or sells it to another agency IF it is a large debt.

It all STOPS with a bankruptcy.

good luck

Answer 6

The only activity date that matters is the last time payment was made. This affects how long they have to sue and how long the item is on your reports.

A "Zombie Collector" is a collector who comes out of the woodwork after the debt statute of limitations has expired. You don't have to deal with them. If you have any trouble, contact me thru www.wfwppl.com and I'll help you get rid of them.

Answer 7

in what country.... Answer will probably be the same anyhow. Hell no, after 7 years its gone usually 5 in my country

Answer 8

I don't think there is any limit on that.