Charged off account cannot be reported after seven years

Dear Experian,

Can a charge off be reported after seven years if it is sold to another company?



Dear YAY,

No, an account that has been charged off cannot be reported beyond the seven year period, even if it is sold to another company.

Accounts are deleted seven years from the original delinquency date of the original account — in this example the account that was charged off and sold. Federal law requires that the original delinquency date be carried over and reported by the new account owner.

Because the original delinquency date must be retained from one account holder to the next, the account should not reappear in your credit report if seven years have passed from that date.

Thanks for asking.

- The “Ask Experian” team

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