Collection Angency's Buying Old Accts?

[rudpup]

Hi, Iam A new Member here with a Few questions, On my Credit Reports I have a few different Collection Company's that have bought some of my old CC dedts that have had no activity on them since 1999- 2001 and Reporting them on some of My CRs as dedts in 2003 or 2006 ever is this legal can they report the date as the date they bought the dedt instead on the date the dedt became delinquent ? Thanks

[NightStar]

They should come off of the credit report at the same time the original creditors listings come off. If they don't then you have a re-aging problem, and just need to dispute to the credit reporting agency that these accounts where due to expire and to remove them.

[rudpup]

Thanks for response
thats make sence must of them do list on my TU report a just got as due to come off within the next couple months, but there is a couple that show Est. date of removal 7 yrs from date placed for collection and shows no dates for Last payment or acct. open, I have no records from back then but I know they have to be from 1999- 2001 period, does it hurt to dispute if Iam not sure there past the 7 Yr. SOL?

[skullst]

Brand new to the forum. This might be a good time to see if the collection agency can validate the debt. They have to provide you with a copy of the original contract you signed and any account history. Between the time you request this info and they provide it, they cannot pursue any collection activity. This means they can't put it on your credit report. If it stays on there or they don't get you the information you need you'd have reason to sue them under the FDCPA. Search online for some sample letters.

[LHUCKS]

not to hijack the thread, but is seven years the typical time for Credit card chargeoffs to drop off?

thanks!!

[NightStar]

Yes that is correct a charge off will expire 7 years from the initial default date. The credit reporting agency should show the drop off date. If not you can call them and ask for the drop off date.

[novastar]

This may be a legitimate reporting depending on your situation. If those credit card companies, for whatever reason, didn't discharge your debts until 2003 and 2006 then they may be able to report them for 7 years form the date of discharge. You may need to look a little further into this and request a debt validation letter from them to see how your credit card companies were reporting the debts.

[NightStar]

You can still dispute the debt even if you are not sure on the drop off date. If it is not due to come off yet, they will just verify it.