Collection disappeared after 3 years -- is it coming back?

[designated_knitter]

So I had a collection from LTD Acquisitions for a charged off credit card -- DoFD with OC was around 2/2017.  It was placed for collection with LTD Acquisitions around 10/2017.  SOL in my state is in 3 years so I am outside of the SOL.

It was my last collection -- another one mysteriously disappeared last month (That was a weird one because it was a collection agency collecting on behalf of a collection agency) and have been expecting it to come back under a different credit agency.

Is there a period of time where collection agencies just give up?  I know CC companies usually sell the debt off after 6 months to get it off their books so wondering if collection agencies are sort of like that.  And if so, is it just going to come back under another collection agency?

It would be really sweet it if would just disappear altogether despite being nowhere the 7-year mark.  I still have 4 charge-offs on my CR from over 3 years ago and would probably go to work on those if I knew I didn't have to worry about the Collection accounts.

Anyone have experience with this type of thing?

Thanks in advance.

[gdale6]

If the OC still owns it they most likely have recalled the CA and are going to give it to another so it would be a good time to get with the OC and settle before they do so. It can come back anytime with any CA as long as the 7.5 yr max reporting time has not been reached.

[Anonymous]

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@designated_knitter wrote:

So I had a collection from LTD Acquisitions for a charged off credit card -- DoFD with OC was around 2/2017.  It was placed for collection with LTD Acquisitions around 10/2017.  SOL in my state is in 3 years so I am outside of the SOL.

It was my last collection -- another one mysteriously disappeared last month (That was a weird one because it was a collection agency collecting on behalf of a collection agency) and have been expecting it to come back under a different credit agency.

Is there a period of time where collection agencies just give up?  I know CC companies usually sell the debt off after 6 months to get it off their books so wondering if collection agencies are sort of like that.  And if so, is it just going to come back under another collection agency?

It would be really sweet it if would just disappear altogether despite being nowhere the 7-year mark.  I still have 4 charge-offs on my CR from over 3 years ago and would probably go to work on those if I knew I didn't have to worry about the Collection accounts.

Anyone have experience with this type of thing?

Thanks in advance.

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I agree with @gdale6 , deal with them now while they are off your reports so you dont have to bother messing with PFD and such (since not all CAs are willing to do it).

I did that previously with a CA that came off my CRs early (and refused PFD) so I did not have to worry about it further. The OC was already in the process of endorsing my debt with another CA (that does not do PFD), so I dodged a bullet there.

If the debt is still within the 7 year reporting window it can come back at any time until then. They rarely just go away several years early and never come back. Maybe a few months, but not years. Not saying it doesn't happen, but I would not count on it.

While you can no longer sue you for it, that does not change their ability to wreck your credit until the 7 years is up.

Having even a single CA will bring down your scores until it is gone. I had over a dozen within the last year reporting all at once akd I am now down to 3 or 4 (depending on bureau) and have seen no score improvement from their removal.

My SO had his only CA removed from 2 bureaus and his scores went up nicely 35-56 pts per bureau. His EQ still has a CA and it is much slower for that one's scores to improve than the others.

CAs dont have any time period in which they just give up. Even when the 7 year reporting window is over, you still owe the debt even if they can't sue or report. You will block one CA's efforts and it will just move to the next CA to harass you, which is what we call "zombie debt".

So again, I would deal with the CAs that are now gone because they could come back tomorrow or in 2 years. I would rather not fight with them to PFD, and even worse, if they dont at all allow PFD when they decide to come back.

Good luck!

[designated_knitter]

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@gdale6 wrote:

If the OC still owns it they most likely have recalled the CA and are going to give it to another so it would be a good time to get with the OC and settle before they do so. It can come back anytime with any CA as long as the 7.5 yr max reporting time has not been reached.

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Thanks @gdale6 and @Anonymous for the feedback -- how do I know if the OC still owns the debt?  I'm afraid to call them and "poking the bear" as it were...

Thanks again for your time!

[gdale6]

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@designated_knitter wrote:

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@gdale6 wrote:

If the OC still owns it they most likely have recalled the CA and are going to give it to another so it would be a good time to get with the OC and settle before they do so. It can come back anytime with any CA as long as the 7.5 yr max reporting time has not been reached.

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Thanks @gdale6 and @Anonymous for the feedback -- how do I know if the OC still owns the debt?  I'm afraid to call them and "poking the bear" as it were...

Thanks again for your time!

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If they are reporting a balance they still own it.

[designated_knitter]

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@gdale6 wrote:

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how do I know if the OC still owns the debt?  I'm afraid to call them and "poking the bear" as it were...

Thanks again for your time!

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If they are reporting a balance they still own it.

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THANK YOU!  One of the best pieces of information I've gotten on here!  Again, thank you very much!

[designated_knitter]

Well, I just checked and the account in question shows a 0 balance and comments say "Purchased by another lender"...

So I suspect I'll have to wait for a Junk debt buyer to come a-knockin'. ...

[Anonymous]

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@designated_knitter wrote:

Well, I just checked and the account in question shows a 0 balance and comments say "Purchased by another lender"...

So I suspect I'll have to wait for a Junk debt buyer to come a-knockin'. ...

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If you are ready to deal with it, I would contact the CA that had it and see where it went to maybe head it off.