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 No Agenda
Stranger
 
Registered: 05/31/05
Posts: 931
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 Credit report question 
#10101063 - 04/03/09 05:48 PM (4 years, 1 month ago) |
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I know that past issues come off credit reports seven years after the account was last active. The question I have is if an account went to collections and there was never any activity through the collection company does the collection company part come off seven years after the last activity on the original account or is it from when the collection agency acquired the debt. Any help would be greatly appreciated.
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 budmanman
Tweeeet
Registered: 02/07/07
Posts: 5,951
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Re: Credit report question [Re: No Agenda]
#10101110 - 04/03/09 05:56 PM (4 years, 1 month ago) |
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in or out of stat ..... pay your damn bill
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Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.
And I am mentally unstable.
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No Agenda
Stranger
Registered: 05/31/05
Posts: 931
Loc: Somewhere else
Last seen: 6 days, 19 hours
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Re: Credit report question [Re: budmanman]
#10101147 - 04/03/09 06:04 PM (4 years, 1 month ago) |
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I had two cars that I cosigned on and the people let them go back. Then they got sold for like 200 bucks a piece and there is still over 5,000 dollars left on both of them. I am not paying ten grand for two cars that got repossessed especially since I didn't even know about it until they had been resold at auction. If I had known at the time I would have taken over payments. Its been six and a half years since all of this happened and I just want to know if the collection will come off of my report when the original debt does.
Its a good lesson to not cosign for people no matter how much you trust them. Both people I cosigned for had good steady jobs and stable lives. Then stuff just went wrong in their lives. I guess they were to embarrassed to talk to me until after it was to late to save my ass in the whole mess.
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Chespirito
Stranger
Registered: 02/13/09
Posts: 3,258
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Re: Credit report question [Re: No Agenda]
#10101155 - 04/03/09 06:05 PM (4 years, 1 month ago) |
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Im in the same boat actually. I went to a urologists office, gave them my insurance, got the visit, and left. I then promptly forgot about that visit, and a year later (last few weeks) I get a call from a collection agency saying I owe a few hundred dollars. I have them fax the bill over to me, I investigate a bit and find out that the doctor never bothered to inform me that I owed money.
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Icelander
The Minstrel in the Gallery
Registered: 03/15/05
Posts: 79,795
Loc: underbelly
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Re: Credit report question [Re: No Agenda]
#10101156 - 04/03/09 06:06 PM (4 years, 1 month ago) |
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Never, ever, trust humans. Dogs yes, humans no.
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"Hang on tightly, let go lightly" -anonymous
“under the present brutal and primitive conditions on this planet, every person you meet should be regarded as one of the walking wounded. we have never seen a man or woman not slightly deranged by either anxiety or grief. we have never seen a totally sane human being.”
― Robert Anton Wilson
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IAmABanana
Banana Man
Registered: 12/08/08
Posts: 126
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Re: Credit report question [Re: Icelander]
#10124345 - 04/07/09 06:30 PM (4 years, 1 month ago) |
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By U.S. law (see Fair Credit Reporting Act), you can dispute these collection notices. They must be verified by the ORIGINAL creditor. While in dispute, the credit reporting agencies must make a note of this on your account. If the original debt is not verified by the original creditor 30s days (I believe) from the day you sent notice (by certified mail), it must be deleted from your record.
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Stonehenge
enthusiast
Registered: 06/20/04
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Re: Credit report question [Re: IAmABanana]
#10124918 - 04/07/09 07:47 PM (4 years, 1 month ago) |
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^ True, but it's not that easy. They usually respond and even if it's wiped off, they can have it reinstated.
As to the OP, in general the clock starts ticking when it's reported delinquent. 7 years after that it should come off the record. Bankruptcies take 10 years.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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budmanman
Tweeeet
Registered: 02/07/07
Posts: 5,951
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Re: Credit report question [Re: Stonehenge]
#10231511 - 04/25/09 04:37 PM (4 years, 24 days ago) |
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not to many collection agency's follow the fdcpa so id recommend paying it.
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Everything I have ever said is total bogus bs I am full of crud therefore everything I say should never be taken literal.
And I am mentally unstable.
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