For example, in California the Statute of limitations on amassing debt is four years. So after four years, can the collection agency continue to submit poor entries in your credit report?
Debt Collections » Questions » Can a collection agency continue to report on your credit report if the statute of limitations has expired?
not for any debt that is over four years old — but same collection agency could still post next bad debts to you report!!!
Yes, although there is a big difference between the tradeline appearing on your credit report and the company actively reporting and updating that tradeline.
Most CAs will not bother to continually update the tradeline past a certain point if they have not heard from you and the SOL for lawsuits (the 4 years you mentioned) have expired. The tradeline, however, will still be there, it just won’t be continually updated.
Note that I say “most”. Some are just beastly and do it right up to the 7 year mark. I don’t know where the 7.5 year date from the above poster comes from, but the FCRA states that a debt may be reported 7 years from the first 180 day delinquency on the original account. Best of luck, hope this helps.
Yes. Collections accounts can appear on your credit report for 7 years after the date of service or date of delinquency. Judgments can appear on your credit report for 10 years.
The statute of limitations just means the time line in which a company has to take legal action against you. It has nothing to do w/ collections or your credit report.
Yes, the statute stops you from getting sued in court. It doesn’t stop anything else..
Yes they can. In fact they can report all the way up to 7 years 6 months from the date of your first delinquency with that account. The state statute of limitations merely hampers their ability to sue you in attempts of collecting the debt.
I’ve had good info about it here:
http://creditreport.fateback.com
Have a nice day.