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Frequent Contributor
danny4l
Posts: 299
Registered: ‎05-24-2012
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Can a collection show up on your report years after it was first reported?

I diligently paid off six medical collection accounts on my report last month.  Today I pulled up my report and 13 new entries from the hospital for a total of $3200 have now showed up.  It says they were first reported last year but they were not listed on my CR last year.  This is really frustrating.  Luckily, I am employed with this hospital so I will ask them if they can help me out but I am just confused as to how entries can show up unannounced.

 

Also, on the same topic...It says the entry is going to come off the report in 2017 so does that mean that at that time the account can no longer affect my score?  Or right before it is scheduled to come off can they sell it to someone else and start the seven year process all over?

 

Thanks

Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
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Re: Can a collection show up on your report years after it was first reported?


danny4l wrote:

I diligently paid off six medical collection accounts on my report last month.  Today I pulled up my report and 13 new entries from the hospital for a total of $3200 have now showed up.  It says they were first reported last year but they were not listed on my CR last year.  This is really frustrating.  Luckily, I am employed with this hospital so I will ask them if they can help me out but I am just confused as to how entries can show up unannounced.

 

Also, on the same topic...It says the entry is going to come off the report in 2017 so does that mean that at that time the account can no longer affect my score?  Or right before it is scheduled to come off can they sell it to someone else and start the seven year process all over?

 

Thanks


Well, collection companies can report whenever.. they can keep an account for years before actually reporting it...

 

And no, the 7 years is based on the DOFD; so even if they sell it and another collection company tries to collect, they will not be able to report after 7 years and 180 days past the DOFD..

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Frequent Contributor
danny4l
Posts: 299
Registered: ‎05-24-2012
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Re: Can a collection show up on your report years after it was first reported?

So in other words, a collection account cannot haunt me for the rest of my life...only for seven years max?

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MarineVietVet
Posts: 14,560
Registered: ‎07-14-2009
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Re: Can a collection show up on your report years after it was first reported?


danny4l wrote:

So in other words, a collection account cannot haunt me for the rest of my life...only for seven years max?


It can't be reported after the CRTP (Credit Reporting Time Period) expires but unpaid debt remains forever and collection efforts can continue.

Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
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Re: Can a collection show up on your report years after it was first reported?


danny4l wrote:

So in other words, a collection account cannot haunt me for the rest of my life...only for seven years max?


The debt is stil valid.. it just cannot report on your reports..  and since it will be past the SOL for legal action, it will not really haunt you...

 

They can keep selling it and reselling it, and being a pain tho...

 

Usually as soon as I knew it couldn't report any further, id settle for super cheap just to satisfy the debt, because its still a valid debt and this way it keeps it from being resold..

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
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pizzadude
Posts: 9,674
Registered: ‎01-28-2010
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Re: Can a collection show up on your report years after it was first reported?


danny4l wrote:

So in other words, a collection account cannot haunt me for the rest of my life...only for seven years max?


In terms of credit reporting, it can only show on your report for 7.5 years from DOFD.    However, CAs can continue to try and collect forever.    Also check the SOL for your state of residence to know where you stand should they file a lawsuit.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: Can a collection show up on your report years after it was first reported?


MarineVietVet wrote:

danny4l wrote:

So in other words, a collection account cannot haunt me for the rest of my life...only for seven years max?


It can't be reported after the CRTP (Credit Reporting Time Period) expires but unpaid debt remains forever and collection efforts can continue.


Beat me to the punch! I spent 10 mins in my reply because contrary to popular belief, I actually WORK at work sometimes :smileywink: shocking, I know...

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Frequent Contributor
danny4l
Posts: 299
Registered: ‎05-24-2012
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Re: Can a collection show up on your report years after it was first reported?

Then why pay the debt at all?  I just sent out money orders for $1300 to pay off the six or seven medical collections that were on my report to see these new entries from a new collection company.

 

Did I make a dumb move?  I thought I was doing the right thing.

 

Now with my other lates reporting till 2017 it almost makes you wonder if you should have just left everthing as it is till 2017 and then have everything fall off.

 

Please explain this to me.  I know we should do the right thing but there seems to be so much strategy involved.

 

Also I am only referring to medical debts not credit card debts or other debts.

 

Thanks

Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: Can a collection show up on your report years after it was first reported?


danny4l wrote:

Then why pay the debt at all?  I just sent out money orders for $1300 to pay off the six or seven medical collections that were on my report to see these new entries from a new collection company.

 

Did I make a dumb move?  I thought I was doing the right thing.

 

Now with my other lates reporting till 2017 it almost makes you wonder if you should have just left everthing as it is till 2017 and then have everything fall off.

 

Please explain this to me.  I know we should do the right thing but there seems to be so much strategy involved.

 

Also I am only referring to medical debts not credit card debts or other debts.

 

Thanks


Well, there are different trains of thought....

 

The main reason to pay is to avoid legal action. If a debt is in the SOL, they can sue you, win, and garnish wages... you would then be forced to pay.. and you have TWO credit dings for the same debt...

 

The second reason is, future lending... do you not have aspirations to get a loan or credit in the next 7 years? Then by all means let it ride.. but if you want to make any finaincial moves involving credit, open and unpaid collections will not help you much...

 

Once a debt is paid, you can always work the GW letter avenue and try to get them removed.. you work where your debt is owed, that seems to be a good avenue to get removal after they are paid...

 

Waiting out debt sounds like a plan at the start, but years in, it doesn't feel as good.

 

Many people will WAIT until the debt is past the legal SOL, and then try to negotiate pay for deletes, lower settlements ect ect since they cannot sue at that stage.. but that is a risk I am never willing to take

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX
Valued Contributor
rckstrscott
Posts: 2,660
Registered: ‎04-25-2011
0

Re: Can a collection show up on your report years after it was first reported?


danny4l wrote:

Then why pay the debt at all?  I just sent out money orders for $1300 to pay off the six or seven medical collections that were on my report to see these new entries from a new collection company.

 

Did I make a dumb move?  I thought I was doing the right thing.

 

Now with my other lates reporting till 2017 it almost makes you wonder if you should have just left everthing as it is till 2017 and then have everything fall off.

 

Please explain this to me.  I know we should do the right thing but there seems to be so much strategy involved.

 

Also I am only referring to medical debts not credit card debts or other debts.

 

Thanks



Are these new entries from debts you already paid??? or are these NEW debts??

 

-scott

Starting FICO Score: 10/10: TU 498 | EQ: 502 Current FICO Score(lender pull): 09/14: TU: 784 | EQ: 752 | EX: 784
Collections Removed: Hunter Warfield, CBE Group, Merchants Credit Guide, EOS-CCA, Enhanced Recovery, Portfolio Recovery, UCB, American Collection Company, Medical Business Bureau, Jefferson Capital, Credit Portfolio Associates, FCO, LVNV, Convergent, Armor Systems
Other Negative Entries Removed:Plains Commerce CO, HSBC CO, 2008 Judgment Santander Reposession


Positive Accounts:10/10: 0 | 07/12: 6 | Mortgage Closed 5/12, Macy's AMEX $13900, Citi/Home Depot $8500, Capital One Cash Rewards $3500, BOA $7500 Total Utilization: 3%. AAoA: 2yr, 9mth. INQS: 1 TU, 1 EQ, 3 EX

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