After it falls off of your credit report, can the original "creditor" resubmit it to a collection agency and have it placed back onto your credit report as if it were a never on there for seven years already?
2007-09-13 18:28:00 · 7 answers · asked by Chris 1 in Business & Finance ➔ Credit
bdancer is correct.
The other thing you need to consider is the statute of limitations on your debt.
After this date has passed, the creditors can not really do anything, they can sue but all you have to do is show the court that the S.O.L. has passed and the case will be dismissed.
Attached is a link so you can look this up.
http://www.bcsalliance.com/index.html
2007-09-14 02:15:35 · answer #1 · answered by ? 7 · 0⤊ 0⤋
A negative falls off your credit report in 7 years and 180 days from the date of last activity (DOLA) which is the default date. The debt can be sold to collection agencies but it cannot be re-aged.
Some collection agencies try but you can dispute the entry with the credit bureau as being beyond the reporting period. They will remove it.
The collector can still try to get paid.
2007-09-13 18:38:34 · answer #2 · answered by bdancer222 7 · 1⤊ 0⤋
No. Your Credit Report lasts a lifetime. It is not like an auto insurance revolving record where an automobile accident or speeding ticket can be dropped. Your best bet is to get out from under credit debt as soon and as fast as possible. You don't need to be paying the interest. Financial freedom cannot be obtained by borrowing from creditors.
2007-09-14 06:51:39 · answer #3 · answered by Anonymous · 0⤊ 1⤋
No they can not resubmit it but many creditors sell the debt to another collection agency and they mark your credit for an additional 7 years. however you can object because your debt was not with them.
2007-09-13 18:37:39 · answer #4 · answered by Curious 1 · 1⤊ 0⤋
If you owe the debt, they can come back at you for it forever. The only way to get rid of such debt is by paying it off, getting a written statement from the company saying that they forgive you of this debt, or by filing bankruptcy. Even bankruptcy does not get rid of all your debts anymore.
2007-09-13 18:41:43 · answer #5 · answered by sbyldy 5 · 0⤊ 2⤋
yes.I don't know who told you it goes away after 7 years,I have a few on my credit report that my x husband ran up on my credit in 1986.
2007-09-13 18:39:27 · answer #6 · answered by jjjuhree2000 1 · 0⤊ 5⤋
pay your debts and you won't ever worry about it.
2007-09-13 18:32:06 · answer #7 · answered by Anonymous · 1⤊ 5⤋