bad credit card debt, sold to another collection agency. How long until goes away?
I was one of those dumb 18 year olds who accepted every credit card offer that came in the mail. I have all paid off now accept one. It went to collections in 2002 and was recently sold to another collection agency. I understand that after 7 years your debt is sopposed to go off your credit report. Now that this debt was sold does the 7 years start over or will my 7 years be over next year?
The 7 year reporting period begins from the date of delinquency. NOTHING can reset this 7 year clock. If you missed a payment on 1/1/2000 and never brought the account current, the negative mark must be removed 1/1/2007.
If this went to collections in 2002, it will come off your report this year or next, depending on when you actually became delinquent.
depends most likely when the debt is sold to collections for payment depends on if the card company as a dead debt or if the collection reports it to the credit bureau
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I am responding to your old post about the Fisher Price bedding because I was searching for it also and found your old listing. They actually have matching crib bedding at WalMart.
I know nothing about debt…sorry…
OK so once 7 years is up it will be removed right? Even if another company bought it it won’t effect it will it?