Re: charge-off

Posted by Christine (24.244.136.198) on May 29, 2002 at 19:05:56:

In Reply to: Re: charge-off posted by jm10101 on May 29, 2002 at 17:34:21:

Well, I am only going by what I have learned on two other boards that both don't support what you are saying about re ageing debts.
I don't speak for myself but for the people that run and manage these boards.
My understanding is nothing can re-age a debt. The original delilquincy date can never be changed and that is the date that you add the 7 years to.
In cases that occured after 1997, yes they did change the laws to be more clear but they still can't re-age accounts prior to 1997.
The new laws are original delilquincy date+ six months+ seven years. That is the reporting time, after that the tradeline comes off.

The best bet for re payment is to pay with an agreement in a letter in writing only!!Stating the collection agency will delete this account off all three reports in exchange for complete payment.
That letter will be your proof to all the CRA's if any monkey business happens.
Its funny, I have been reading every thing I can find on the internet and I have not come across one person that can say that their account was re-aged. I only hear people talking about this and say it can happen.
I would love to hear from someones own mouth that this has happened to them.

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