Credit Report Collections From Old Account?
I had a credit card (balance 2000) that I was unable to pay in 2002. The company reported it as a bad debt/write off on my credit report from 2002 to 2008. Then they turned around and sent it to a collections company, now it looks like a new collection account reported in 2008 on my credit report. This is now 8 years old to me. Can they do that? Can I dispute it?
- CatDadLv 71 decade agoFavorite Answer
No...they can't do this....There is only one 7 year reporting cycle for debts on your credit report. Some collection agencies have been known to tamper with dates on the account to re-age the debt and make it appear like a new default. You can dispute this with the credit bureaus:
Send the credit bureaus (Equifax, TransUnion and Experian) a letter via Certified Mail. Include a photocopy of your driver's license and social security card...If you don't include these, they may write back requesting them, which would slow the process down by several weeks. In the letter, state:
Be advised that this notation on my credit report has been re-aged in violation of the 7 year allowable time frame as allowed per the Fair Credit Reporting Act.
Per the Fair Credit Reporting Act, I am requesting validation that this debt is being reported within the 7-year time frame as allowed under the Fair Credit Reporting Act. I am also requesting validation of the original Date of First Delinquency for this debt
- 1 decade ago
They can try to do it and there are many consumers who won't challenge it or believe the lies they tell. Creditors collect every single day on debts that are considered legally non collectible. While the debt falls off of your credit report in 7 yrs, collectors can TRY to collect years later. Unless you know the law and can tell them 'hey look buddy, this debt is beyond the statute of limitations' they will continue to try to collect and sometimes even sue.
In this case, I would send the creditor a letter and simply state. you have placed a very old account on my credit report. Not only has this debt been re-aged which you have no legal right to do, this account is also past xyz states statute of limitations on debt. I have filed a dispute with the CRA's and am asking you to also remove this item. If you fail to do so, I will be forced to move this matter to the FTC and BBB.
This should be a very easy matter to resolve.
You can check your states laws here. http://www.comebackcredit.com/statute-of-limitatio...
- StephenWeinsteinLv 71 decade ago
Yes, you can dispute it. If the last thing that you personally did was in 2002, then it is too old to be on your credit report and you should dispute it based on the age of the debt.
They can and they can't.
Thay can in the sense that they are trying to find a loop hole that most people don't know is unethical and illegal and just end up paying because they're scared.
The can't in the sense that if you do know you're rights, and you do know you're not obligated to this debt anymore then their efforts to collect are in vain.
I would suggest you go speak to a credit councellor who can look at your situation in more detail and accuracy and give you a definite answer based on the laws and regulations in your area.
Best of luck,
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- Anonymous1 decade ago
Yes, unfortunately they can do that. It will continue to be reported until you take care of the debt. Once you have taken care of it, then a seven year clock will start and at the end of this period, it will fall off your credit report.