How long can a neg mark stay on your report? I know the 7.5 years....but is this 7.5 years after the DLA or charge off date? Also can a collection company pick up the account and continue reporting over the 7 years date?
(1) In general. The 7-year period referred to in paragraphs (4) and (6)(2) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.