What happens to collection accounts on your credit report once it hits the 7 year mark?

Question

What happens to collection accounts on your credit report once it hits the 7 year mark?

Answer 1

It should automatically be removed at seven years (usually the bureaus remove it at 6 years 9 months).  At the 7 year mark, I would get copies of all your credit reports to make sure that it's gone like it should be.

Answer 2

They should be removed. If not, simply file a dispute with the credit bureaus on the "obsolete" accounts.

And golfer, there is only ONE 7 year reporting cycle.

Answer 3

This is governed by the Fair Credit Reporting Act and it says that derogatory accounts show for 7-years from the date of first delinquency.

Nothing resets this time line even if the accounts are sold and sold again they still must all come off after the 7-years time line expires.

If they do not, you must dispute them with the credit bureaus and they will be removed, as a matter of fact you can sue in small claims court and collect a $1,000.00 fine from anyone who violates this law.

Answer 4

they should be deleated but the problem is they are generally sold to another collection agency and they will report

Answer 5

They expire and are removed by the credit bureaus.