Collection agency issue?

Question

I signed a contract for credit in November of 2001. I made 8 payments and became unemployment and fell behind. This debt is no longer "legally" owed because it has surpassed the stautue of limitations.

This debt is showing up on my credit report as "recent" - under the 'collection agency' category. I want it to drop off like it should - but am apprehensive about contacting them about it - because it may open up a can of worms. How do I communicate with them that they need to remove this off my report without them causing a ruckus?? they don't call, and haven't written me in 2 years.

Can I sue them if they don't remove the information off my report as well?

Answer 1

just ask them if they want to die....

Answer 2

If debt is under a collection agency category on your credit report, it stays there for 7 years past the last payment on the original account.  It will be there regardless of whether or not you pay it for that time period, and they are not obligated to remove it until the 7 years is up.  If you pay because you want to do the right thing, the 7 years does not restart when you make payments.

Answer 3

Sand Bag is incorrect. The Fair Credit Reporting Act states that delinquent accounts can be reported for a maximum of 7 years from the date of first delinquency. Nothing can LEGALLY reset the 7 year reporting period.

If you are sure that this debt is out of statute, then you can try sending the sample letter in the link below, which will usually make the collection agency delete the tradeline.

Beyond that, just wait for the 7 years to expire. If they do not remove the tradeline after 7 years, you can sue them provided you follow the proper steps to dispute the listing.  

Answer 4

what?! you think it should be off your credit because its not "legally" owe!!!!!!

You owe it till the day you die! the SOL is for when they can SUE you.

no you can't sue them! you caused a debt and it wont drop off just because you want it to.

Answer 5

Great question! What ever you do, DO NOT contact the collections agency or you risk opening up the account all over again. The 7 years has expired and now you need to deal with the Credit bureau that's still reporting it.

Remember it's 7 yrs from the date it was first reported. Write a letter to the reporting credit bureau. Here are a few sample letters that might help. The one you need is "Request a Reinvestigation of Items Still on Your Credit"

Answer 6

What happens is they update it or make a change to the account to keep it active. The statue of limitations is different for every state, but they go off the last date.

I know someone that had a credit card back in 1999 lost there job in 2001, paid until 3/2002 and they just now sued them in court. Since they kept it active and reported it to the credit agencies that the statue of limitation rule starts from the last update so they collected.

If you contact them to deny or confirm the debt it starts the statue of limitations over again.

Remember every state has a different length of time for the statue of limitations.