Question about reporting

[krit]

A TU rep told me that every time a CA sells a debt, the new CA can start reporting it all over again for another seven years, and so on, potentially forever. I always thought that the DOFD determined how long the debt stays on a report. He said that every time the debt sells, it resets the clock. That's incorrect, right? 

[SouthJamaica]

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@krit wrote:

A TU rep told me that every time a CA sells a debt, the new CA can start reporting it all over again for another seven years, and so on, potentially forever. I always thought that the DOFD determined how long the debt stays on a report. He said that every time the debt sells, it resets the clock. That's incorrect, right? 

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I'm sure that's wrong. These people will say anything.

[krit]

Hopefully that's incorrect. I didn't think the debt could be reinserted after seven years. 

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@SouthJamaica wrote:

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@krit wrote:

A TU rep told me that every time a CA sells a debt, the new CA can start reporting it all over again for another seven years, and so on, potentially forever. I always thought that the DOFD determined how long the debt stays on a report. He said that every time the debt sells, it resets the clock. That's incorrect, right? 

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I'm sure that's wrong. These people will say anything.

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[dragontears]

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@krit wrote:

A TU rep told me that every time a CA sells a debt, the new CA can start reporting it all over again for another seven years, and so on, potentially forever. I always thought that the DOFD determined how long the debt stays on a report. He said that every time the debt sells, it resets the clock. That's incorrect, right? 

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The TU rep is mistaken. 

Don't take credit advice from customer service representatives, in general, they are not trained in credit/scoring; they are trained to perform simple tasks to help callers.

[yapsalot]

I'm certain the rep is wrong. What the rep is describing is called "re-aging" and it is in violation of the Fair Credit Reporting Act, the federal law that governs credit reporting.

[OmarGB9]

The rep is wrong. While it's true that the new CA *can* re-report their newly acquired debt, that's only IF it's still within the 7 year reporting window. Outside of that, it's illegal and you can easily dispute it off your reports if it does come up.

[krit]

Thank you. I appreciate everyone's input. I was certain this person was wrong but I started wondering if any new CAs could report since the debt would be new to THEM, even after seven years. I was sure they couldn't, but wanted to be certain. Thanks again. 

[OmarGB9]

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@krit wrote:

Thank you. I appreciate everyone's input. I was certain this person was wrong but I started wondering if any new CAs could report since the debt would be new to THEM, even after seven years. I was sure they couldn't, but wanted to be certain. Thanks again. 

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What is the DOFD of said debt?

[krit]

@OmarGB9 DoFD was March, 2015. 

[FireMedic1]

It'll be gone next month. Congrats!