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When a debt comes off your credit report, the time is up, and it comes off,

is it legal for the collections company to sell that debt to another company? We had a debt come off of our report the beginning of Feb. Today a DIFFERENT collections company called and left a message! I didn't think this was legal!!! Problem here is, we are set to close on a house in a matter of 3 weeks, if it goes back on our credit report and they pull our credit report again, which is a possibility according to our agent, we will be denied the loan. I'm f*ing freaked! (I'm putting this in this section, which it will probably be moved, but here because this section get so much traffic)

Answer Question

Asked by Anonymous at 6:20 PM on Mar. 25, 2011 in Money & Work

Answers (8)
  • They CAN sell the debt and they DO but the new company try's to call it NEW debt, but CANT. If they could, they would take you to court and get a judgment for the $ you owe and that's just NOT going to happen. The judge looks at the time the debt was incurred and throws out the case. All you can do is try and stay ahead of them. First off dont even acknowledge the new company trying to collect a debt over 7 years old. If they call, ask for their mailing address and write a letter asking them to NOT call again and if they do then you can file a complaint with the Federal Trade commission and they WILL make them stop and get it off your credit report. You can Also Thank President Obama for getting the new fair credit rules passed that stops new collectors from calling old debts new.

    Answer by vbruno at 6:29 PM on Mar. 25, 2011

  • Shouldn't we just NOT talk to them at all? And, CAN they put it on our report at all?

    Comment by Anonymous (original poster) at 6:30 PM on Mar. 25, 2011

  • I know they can sell it, but I didn't think they could AFTER it was old enough to come off the credit reports.

    Comment by Anonymous (original poster) at 6:31 PM on Mar. 25, 2011

  • They TRY and put it on there, and it's NOT supposed to be if it's older than 7 years. Report it to the FTC and they will tell you or help you get it off. Sometimes old debts do get put back on by new company's but it's NOT legal.

    Answer by vbruno at 6:33 PM on Mar. 25, 2011

  • This whole road with getting the loan has been stressful. Torn up my stomach. Now this. We took care of things, except this. There is a reason we didn't pay this one, it wasn't legal for them to charge us this one, anyway. Long story. But, would they put it on within 3 weeks?

    Comment by Anonymous (original poster) at 6:35 PM on Mar. 25, 2011

  • Maybe I should send them a cease and desist letter now? Even though I have only received one phone call? That way, they can't do anything. I found a template online that includes a threat of me contacting the Attorney General.

    Comment by Anonymous (original poster) at 6:44 PM on Mar. 25, 2011

  • Did you pay the debt? If not, they can still try to collect it. It only comes off if it's paid I think.

    Answer by mompam at 6:54 PM on Mar. 25, 2011

  • No, we didn't pay. We won't pay, they tried to charge us for something that they CAN'T. It is past the statute of limitations, so it is off the credit reports, and it is federal law that they cannot harass us. They never filed suit, so, I believe it never should have been on the credit report to begin with, according to the attorney I spoke with. It was only collections, he said they have to file suit for it to bet put on there. Which, IDK about that, nothing that has ever been on there was a judgment. Anyhow, I have my information ready, I will fight them if they come at us.
    OK, what this debt is, is from breaking a lease due to military orders. They got ugly and tried to make us pay. They can't, not legally. Yet, it was put on our credit report. And now we are being called AFTER it's off, by a new collections company. I was freaked a while ago, now I'm back to being pissed.

    Comment by Anonymous (original poster) at 7:25 PM on Mar. 25, 2011

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