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Credit Report & Old Collections Debt

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lorie



Joined: 05 Sep 2008
lorie's page
Posts: 3



198 Magic Points
Subject: Credit Report & Old Collections Debt
 
 Posted on Fri Sep 05, 2008 9:16 pm  
HI Everyone,

I have a very old debt that ended in collections..

The odd thing is that the debt is no longer showing on my credit report (all three).

Is it possible they just removed it..or ? I do not see any public record notices..nothing.

Any ideas?

FloridaGal55
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3927



10 Magic Points
 
 Posted on Sat Sep 06, 2008 12:59 am  
Hard to say, I would say that they probably did remove it, what type of account was it? How long was it on your report before it was removed. Did the seven year time frame pass?
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fireyone



Joined: 26 Feb 2008
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Posts: 4285



127 Magic Points
 
 Posted on Sat Sep 06, 2008 1:36 am  
It probaly was past the seven years and got removed. If any collection company calls to collect this debt you must not make any payments or the SOL will restart and it may be listed again.
lorie



Joined: 05 Sep 2008
lorie's page
Posts: 3



198 Magic Points
 
 Posted on Sat Sep 06, 2008 12:29 pm  
It was a credit card debt that got transferred the Asset Acceptance. My recollection was back in 2000-however, I made payments periodically (which I know was not the correct thing to do) so wouldn't that change the SOL?

All I know is last year the debt was showing on my report and on my current one it is gone.

Do these collection agencies take debt off if they are planning on sueing?

I very much appreciate your help in addressing this situation. I just found it very odd.

Thanks
erb1953



Joined: 31 Dec 2007
erb1953's page
Posts: 573



-53 Magic Points
 
 Posted on Sat Sep 06, 2008 2:55 pm  
having it on or off the report has nothing to do with their intentions, if you made payments, then you did start the statute of limitation over again. Why don't you contact them and see what their plans are, I am sure they will tell you, they may even set up a payment plan for you that you can deal with.
goodnatured



Joined: 03 Nov 2007
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Posts: 3927



10 Magic Points
 
 Posted on Sat Sep 06, 2008 3:59 pm  
I agree that they will not indicate their intentions, as far as it being off your credit report, that boggles my mind, did you file a dispute on the report and have it removed? or did it just dissappear? They don't usually just dissappear unless it is past the seven year time frame, is it past the seven year time frame for reporting?
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 Posted on Sat Sep 06, 2008 4:10 pm  
Hi Goodnatured,

Thanks for your reply.

I wish I could answer your question about the 7 year period, because I honestly cannot remember. This debt from my own recollection is well over the SOL-but, it was ON my CR last year and now, nothing!

In fact, my CR looks very favorable (720) on all three with a few minor medical bills.

I'm really puzzled by this..
goodnatured



Joined: 03 Nov 2007
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Posts: 3927



10 Magic Points
 
 Posted on Sat Sep 06, 2008 4:24 pm  
What is your concern with it then? like erb stated being on the report or not does not have anything to do if they are gonna sue you or not. I would not worry about it. Are they calling you?

What is your main concern? Not having it there is a good thing right?
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erb1953



Joined: 31 Dec 2007
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Posts: 573



-53 Magic Points
 
 Posted on Sun Sep 07, 2008 12:49 am  
heck, I would be happy to see it gone off my report, LOL
fireyone



Joined: 26 Feb 2008
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Posts: 4285



127 Magic Points
 
 Posted on Sun Sep 07, 2008 12:51 am  
Does medical bills really effect your credit that bad? I have two on mine and always wondered that.
CMBV22

CMBV22

Joined: 08 May 2008
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Posts: 364



4810 Magic Points
 
 Posted on Sun Sep 07, 2008 4:49 pm  
lorie


IF the debt is over 7 years old than it fell off your CR per the FCRA. IF not than I can only assume that perhaps the CRAs removed the listing b/c the CA didnt have the proper info to keep it on....Either way you know what they say about gift horses...
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goodnatured



Joined: 03 Nov 2007
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Posts: 3927



10 Magic Points
 
 Posted on Sun Sep 07, 2008 5:56 pm  
That is what I am thinking, I would not question it, gone is good in this case right?
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Guest







 
 Posted on Sun Sep 07, 2008 6:03 pm  
Thank you all for your help in addressing these questions.

Since the debt is off my CR I know that they cannot sue me..but, I presume still try to collect the debt.

By the way, I felt really terrible about this debt for many years. As the story goes, I have had many battles with cancer issues and could not work for most of the time.

Thanks again
goodnatured



Joined: 03 Nov 2007
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Posts: 3927



10 Magic Points
 
 Posted on Sun Sep 07, 2008 7:49 pm  
Yes, they may come back and try to collect but they can not sue.

I hope that you will stay with us, I encourage you to register so you can make a few cents on your posts. Since you have went through this you will be able to help others that come on here looking for advice and help.

How are you doing now with your cancer? Is everything okay?

please register and stay with us, we enjoy your participation.
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Justin

Justin

Joined: 17 Jul 2006
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Posts: 1240



28942 Magic Points
 
 Posted on Mon Sep 08, 2008 7:15 am  
Hi lorie
Old debt gets listed in your credit report for seven years. This seven years period starts after six months from the date you made the last missed payment. Once this seven years is over, the credit bureaus can no longer list the debt in your report. However, bankruptcy listing may stay in your credit report for ten years. Since your last payment has been made way back in 2000 and from then seven years and six months is already over, it cannot be listed in your report.
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Justin

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