What happens to an account after it is deleted?

[Anonymous]

Let's say I had an account with Verizon that went to collections and I disputed the collection account with the credit bureaus. Then the credit bureaus deleted the tradeline from each of my reports. What happened to the account? Do I still owe the collection even though it is no longer on my reports? If I wanted to get another account with Verizon, would I get denied because of the sold account?

I'm not actually going through this. The topic was brought up while talking among friends and I wasn't sure of the answer myself so I thought I'd ask. Thanks in advance!

[Anonymous]

If it's yours, you will owe it until you pay it. As for it coming off, it could re-appear at anytime under a different CA. Even after the 7.5 years of reporting and SOL expires, you still owe the debt. Whether you choose to pay it, thats your decision. It just can't report after 7.5 years and they can't sue you after your SOL expires. But they can attempt for the rest of your life. Of couse unless it gets discharged in a Chapter 7 BK.

[Anonymous]

Ok, that makes sense. Also a perfect reason people should not just try to dispute every single item and get lucky to have some valid information removed. Thanks!

[Anonymous]

I had the same issue. An old sprint bill was sent to a CA and I disputed it, it was deleted, bought by another CA, I disputed it and it was deleted again. Eventually it wound up back with the original CA. I file a complaint with the Consumer Financial Protection Bureau because a file that is disputed and never validated isnt to be put back on your report until it is validated. The file was deleted from all three credit reports and hasnt come back. That was almost a year ago. As for trying to get another account with Verizon you will probably be unable to get one.

[Anonymous]

I'm pretty sure it's incorrect to say that the debt can be put back on your record when a new collection agency buys it. While yes it could come back, it's not legal for it to be there. The DoFD is still the same no matter who buys the debt.

[Anonymous]

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@Anonymous wrote:

If it's yours, you will owe it until you pay it. As for it coming off, it could re-appear at anytime under a different CA. Even after the 7.5 years of reporting and SOL expires, you still owe the debt. Whether you choose to pay it, thats your decision. It just can't report after 7.5 years and they can't sue you after your SOL expires. But they can attempt for the rest of your life. Of couse unless it gets discharged in a Chapter 7 BK.

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And the BEST TIME to pay it is right after is been taken off by a CA. If paid at that point it will usually not return. Just make sure you pay the correct people....

[RobertEG]

The CRAs dont "delete" adverse information from your credit file based on expirtation of a credit report exclusion period, such as exclusion of a collection no later than 7 years plus 180 days from the DOFD.

The CRA is required to exclude the information from normal credit reports they issue.  The information remains in your credit file, and can still be obtained under very limited situations set forth in FCRA 605(b), such as by a creditor with whom you are seeking credit in the amount of $150K or more.

Credit report exclusion prevents a party from becoming aware of the unpaid debt by a simple pull of the consumer's credit report, and seeing a reported collection that remains unpaid.  Once excluded, the collection is no longer included in normal credit reports, making the delinquent debt more diffiicult to becoome aware of, but it still reamins unless discharged by some other provision of law.

[Anonymous]

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@RobertEG wrote:

The CRAs dont "delete" adverse information from your credit file based on expirtation of a credit report exclusion period, such as exclusion of a collection no later than 7 years plus 180 days from the DOFD.

The CRA is required to exclude the information from normal credit reports they issue.  The information remains in your credit file, and can still be obtained under very limited situations set forth in FCRA 605(b), such as by a creditor with whom you are seeking credit in the amount of $150K or more.

Credit report exclusion prevents a party from becoming aware of the unpaid debt by a simple pull of the consumer's credit report, and seeing a reported collection that remains unpaid.  Once excluded, the collection is no longer included in normal credit reports, making the delinquent debt more diffiicult to becoome aware of, but it still reamins unless discharged by some other provision of law.

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Interesting, I did not know that. Learn something new every day!