Rebuilding Your Credit

[Sassy_Taurus]

I received an alert saying that a new account was added to my report. Upon review I see that its a recovery company. I called the 800 number to see who they were attempting to collect for . The rep told me that it was for an account that went delinquent back in 2004. Can they report on my credit report for something that's over 7yrs old?

[gypsysoul]

i thought that answer is a NO. Maybe you should DV them

[Sassy_Taurus]

Thanks. I'll be sending one out today.

[pizzadude]

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Sassy_Taurus wrote:

I received an alert saying that a new account was added to my report. Upon review I see that its a recovery company. I called the 800 number to see who they were attempting to collect for . The rep told me that it was for an account that went delinquent back in 2004. Can they report on my credit report for something that's over 7yrs old?

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The credit reporting time period ( CRTP ) for collections is 7.5 years from the date of first deliquency ( DoFD ) of the original account.     When the CA submitted this account to the CRAs they would have had to specify a DOFD.   Find out what they submitted ~ if this is showing on Equifax then the DOFD will be on your reports.

Also you should check your SOL ( statute of limitations ) for your state of residence to know where you stand if they were to file suit for the unpaid debt.

[RobertEG]

Yeah, it looks like they snuck it in just under the 7 years plus 180 days from DOFD.  And they certainly got your attention!  For those unaware of CR exclusion, it might just put quick $$ in their pockets without any sort of DV or dispute.

I agree, get the definitive DOFD, add 7 years plus 180 days, then check your CR.  If still there, send a complaint to the CRA for their violation of FCRA 605(c).

If the debt collector reported to your credit report, you should have to call them to get info on the debt.  They were required to have sent you dunning notice within 5 days of their reporting.  Just another indication that their reporting was not taken very seriously.