@GApeachy wrote:
@Anonymous wrote:
Can someone please tell me if the creditors can sell your balance to another collection company and have your seven years start over with the negative reports
Like @Anonymous said, selling doesn't change the DOFD.
The only time the clock resets (starts over) is if you made a payment of any amt. to any CA or the original creditor after the DOFD and then that would be the date that sticks for the next 7 yrs.
What are you seeing on your credit report(s)? Take screenshots of past reports up to present just in case the CA reports incorrectly. Then you have something to work with.
No. The reporting clock never restarts, payment or not.
You're confusing it with SOL that can be restarted if a payment is made (or by entering into payment agreement/making a promise to pay)
Removal of negatives at no longer than 7.5 years is legally mandated, and cannot be changed.
Exceptions to 7.5 years reporting are federal SL negatives are treated differently in terms of removal, chapter 7 BK has reporting period of 10 years.
