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Topics addressed on February 19, 2010:
Debts older than seven years should not return to your credit report
Can a creditor remove a debt after seven years and then sell the debt and place it back on your credit report?
No. Federal law requires the lender to report the original delinquency date of the account that led to charge off and any subsequent collection efforts. The original delinquency date is the date from which the seven year period is measured.
The original account and any subsequent collection accounts are deleted seven years from the original delinquency date. Because each account must include the original delinquency date, none should return to your credit history.
Collection agencies may continue to try to collect the debt, however, even after it has been removed from your credit report.
Get a copy of your credit report to verify the account has been removed. If it has not, dispute the account by following the instructions provided with your credit report. If possible, document the account history and the original delinquency date. Having those details prepared and available can be very important in helping Experian verify the account and delete it if it falls beyond the seven year date.
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- The "Ask Experian" team