2007-06-18 19:04:47 · 7 answers · asked by peucita 1 in Business & Finance ➔ Credit
Studly answer is the best out of everyone. The debt should have not been reported after 2005 if its from 1998.
2007-06-21 12:59:50 · answer #1 · answered by Maria Gallercia 4 · 0⤊ 1⤋
It depends on when the first reported delinquency occurred (and the account must have remained delinquent) prior to being charged off and sent to collections. If that date is over 7 years then it cannot be reported and should drop off of your credit report. If it is less than 7 years, it will remain until that 7 year mark is reached. My advice is to dispute the item and request that the debt is validated. This means they have to report this particular date to the credit bureau and validate what the debt is for, who the original creditor was. The creditor or collection agency has 30 days to validate the debt.
2007-06-19 11:25:35 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Yes. There is a time limit on how long a credit reporting agency can keep information in your file. Depending on the type of debt, it ranges from seven to fifteen years. However, that time limit does not start at the moment you incur the debt. It starts after the last 'activity' on the debt.
2007-06-19 07:44:51 · answer #3 · answered by acermill 7 · 0⤊ 2⤋
Not legally they can't. They shouldn't report it after seven years from the date of first delinquency. Some do illegally re-date debts. If you think you are a victim of the this, you need to sue the collection agency.
2007-06-19 02:36:44 · answer #4 · answered by LUKE 3 · 1⤊ 1⤋
A debt can be collected 7 years or after but cannot be pursued legally
2007-06-19 03:45:29 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Here is what the Fair Credit Reporting Act says...
2007-06-19 22:41:11 · answer #6 · answered by Anonymous · 1⤊ 2⤋
Yes, there is no time restriction on a debt.
2007-06-19 02:15:00 · answer #7 · answered by Island*Chica 5 · 0⤊ 2⤋