RESTARTING THE 7 YEAR REPORTING DATE and STATUTE LIMITATIONS IN TX - NEED HEL PLEASE

[Anonymous]

I had a 7 year old collection account which is removed from my credit reports because the 1st day of deliquency was more than 7 years ago. About 2 years ago, the collection agency found me and I started to pay them for about 1 year. Now, the negative account is removed from my credit report. Another collection agency purchased this debt and they sent me a bill in the amount of full amount. The old collection agency doesn't exist anymore so I stopped paying. Since my last payment was in Feb. 2012, can this negative account be relisted on my credit reports? My firrst day of deliquency was 7 years ago - my last payment was in Feb. 12. I'm afraid that the new collection agency will list it again for 7 years. Please advise. Thank you.

[guiness56]

No it cannot be listed on your CR again.  No matter how many times it is sold to another, they can never re-report it. 

Since you have made payments on it your states SOL for suing was more than likely restarted though.

[chasmith]

The time it can report is governed by the Date of Last Deliquency, which is only reset if you bring the account completely current.

[guiness56]

Its the Date of FIrst Delinquency.  If you bring the account current then default again.  Once it is CO'd this doesn't apply.

[RobertEG]

When the first debt collector reported to the CRA, they were required to have provided a DOFD to the CRA.  That reported date is still of record in your credit file.

That is the date the CRA used to determine the exclusion of the first collection.

The max credit report exclusion period for collections is 7 years plus 180 days from DOFD, not 7 years.

CRAs will usually exclude a collection prior to the full 7 yrs plus 180 days, so CR exclusion of the first collection does not necessarily mean that the full 7 yrs plus 180 has expired.  Nothing precludes a second debt collector from reporting their collection at any time.  It is the responsibility of the CRA to check the DOFD of record, and determine whether that reporting can be included in any credit report they issue. 

If  a new debt collector reports, it is possible that it may see a few months light of day in your CR, but the 7/180 exclusion period cannot be extended by the second debt collector unless they improperly report a later DOFD.  A huge no-no.