myFICO® Forums
Help
cancel
Turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Non paid collection 10 years old?

Anonymous
Not applicable
‎12-17-2008 03:44 PM
‎12-17-2008 03:44 PM

Non paid collection 10 years old?

I'm asking this question on behalf of my sister and brother in law. My brother inlaw has a collection that is about 10 years old on his credit report. He hasn't paid it off. My sister said that since he hasn't paid it they can continue to report it for the rest of his life. Is this true? They stay in North Carolina

0 Kudos
1 REPLY 1
Anonymous
Not applicable
‎12-17-2008 05:13 PM
‎12-17-2008 05:13 PM

Re: Non paid collection 10 years old?

Message contains a hyperlink
jadenmoon510 wrote:

I'm asking this question on behalf of my sister and brother in law. My brother inlaw has a collection that is about 10 years old on his credit report. He hasn't paid it off. My sister said that since he hasn't paid it they can continue to report it for the rest of his life. Is this true? They stay in North Carolina

 

 

Negative accounts remain 7-71/2 years from DOFD, paid or unpaid.

 

DOFD is the date the account went delinquent and was never caught up prior to charge off/collection status.

 

Public records and certain government debts are the exceptions.

 

See FCRA 605 for credit reporting time periods.

 

If this account is remaining longer than the 7-7 1/2 years from DOFD, then it has been re-aged, which is illegal.

 

Re-Aging

Message Edited by sidewinder on 12-17-2008 07:14 PM