DOFD 10/2006 LVNV AND NEW CA CALLING FOR THIS ACCOUNT?

[stillworking]

I had a first premier in 2006, that I never used.  Disputed it several times; most recent in august with LVNV.  NOW, it is at the 7 year limit and it should come off my credit report.  BUT, a new collection agency is calling about the same debt from LVNV saying they hold the account now.  Is this legal? NO PFD accepted.  I want to buy a house and do not need a new collection tanking my score. 

[Shogun]

Yes, it is legal.  They can sell the debt to another CA, and this happens quite often when a debt is about to be excluded due to the CRTP expiring.  This does not reset the DOFD of the debt, it will still fall off after 7 years so it's on life support now.

[newmomnewme]

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@Shogun wrote:

Yes, it is legal.  They can sell the debt to another CA, and this happens quite often when a debt is about to be excluded due to the CRTP expiring.  This does not reset the DOFD of the debt, it will still fall off after 7 years so it's on life support now.

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how long does that last?? Does the new CA collect for another 7 years?? Or just the original  7 years? Thanks.

[llecs]

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@newmomnewme wrote:

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@Shogun wrote:

Yes, it is legal.  They can sell the debt to another CA, and this happens quite often when a debt is about to be excluded due to the CRTP expiring.  This does not reset the DOFD of the debt, it will still fall off after 7 years so it's on life support now.

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how long does that last?? Does the new CA collect for another 7 years?? Or just the original  7 years? Thanks.

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Any new CA can collect forever. I had a debt that got purchased or collected upon by 6-7 different CAs. 15 years later, the latest CA is still trying to collect. They can collect forever. 

In terms of reporting, the law is clear: they can only report for 7-7.5 yrs from the DOFD of the debt (via the OC). So, in my example, it dropped approx. 8 years ago. It can't report. It would be illegal to do so. Once that 7-7.5 yrs hits, then the CA is out of luck in terms of reporting. In OP's case, the DOFD was in 2006, so whoever is reporting must stop sometime inside the next few months (depends on when in 2006 the DOFD was). The CRA will automatically delete it.

In terms of suing, OP's SOL might be out so no risk of being sued. YMMV on your state's laws. In a couple of states, IIRC, a payment years after the expiration of the SOL's expiration can automatically restart it. OP shouldn't pay it unless he/she pays it off. Personally, I recommend letting it fade away.