Just a question...

[ladye]

What is the name of your state?What is the name of your state? Kansas

Here is the senerio... my fiancee has a debt from a truck driving school from years back never paid on it ect. and according to his credit report the original credit has reached it statute of limitation this year and is scheduled to be removed from his credit report in november. The thing that is puzzling me is that the company sold the debt to another collection agency that was also scheduled to have the debt removed this year but now it was sold to another collection agency and not scheduled to be removed until next year! How long can they do this for? I thought after so many years the debt was dropped off the credit report if not collected on. Am I misunderstanding something? This debt is one of the very few bad things on his report that is keeping him from being able to qualify for loans ect. so I was just curious about what is really going on.

Any input is appreciated!

 

[Lisabyday]

If I am not mistaken the seven year time limit begins 180 days from the first initial missed payment.

 

[Tayla]

Lisabyday is correct. the act of trying to collect has nothing to do with its reporting time or who owns it. Date certain is what counts. Read the FTC opinion letters for some interesting scenarios that clarify date of activity and *re-aging*.