so that the bad debt stays on the report.. (still owe money)
2007-05-21 12:14:26 · 4 answers · asked by Stef 2 in Business & Finance ➔ Credit
Let me add that this is charged off as a bad debt already
2007-05-21 12:31:53 · update #1
They can sell or assign the account at any time - but once it has passed the legal reporting period it would be illegal for them to re-age it and continue reporting.
2007-05-21 12:31:16 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Companies usually have contracts with one or more credit bureaus. I'd be surprised if a bad debt fell of your report. Usually they stay until the debt is negotiated or paid in full.
-MM
2007-05-21 12:19:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
While this happens, it's an FDCPA violation. Look up the FDCPA to see how to procede.
2007-05-21 18:43:49 · answer #3 · answered by Zzyzx 4 · 0⤊ 0⤋
Yes!! It's done everyday.
2007-05-21 12:23:06 · answer #4 · answered by MS Williams 5 · 0⤊ 0⤋