Clarification on information from this site...
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Posted by Christian on May 16, 2001 at 17:03:54:
Curious... Concerning Collection accounts, this site states: "Collection Accounts - Seven years. The running of this time limit is the same as with charge-offs. The date of delinquency still refers to the original delinquency with the original creditor, regardless of when the collection agency began working the debt. This includes debts that have been bought by a collection agency. Collection agencies cannot legitimately "re-set the clock." Does this mean that a collection company can mark your credit while attempting to collect a debt, but after 7 years they must remove all indication of working the account? Or does it mean that even though after 7 years, the original debt is erased from your credit report, the collection company can still continue to mark your account for the debt? I'm a tad confused. does this make sense? Thanks in advance for your insight. -C
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