Old Debt

Submitted by pab4103 on Fri, 09/03/2010 - 03:56
Forums
Credit repair

Hi, I am new to the community and was wondering if anyone could help me. How can I remove old debt that is over 7 years old. Collection agencies keep buying debt and change account # by one digit. They also change the amt owed by a few dollars. In Texas anything over 7 years should be deleted but these agencies show new dates i guess when they buy the debt. Help.

Aaron

Hi pab,

Welcome to this community :)

Negative item is supposed to fall off after 7 years of reporting. However, in your case the debt has been sold a number of times. So, the collection agencies can report it each time the debt gets sold to them as a new entry.

However, you have mentioned

Collection agencies keep buying debt and change account # by one digit.

I think you should dispute this. First send a debt validation letter to the collection agency now having the account. If they fail to validate the debt, dispute it with the credit bureaus.

You will get a sample debt validation letter with this community. Feel free to use it to write one of your own and send it through certified mail, requesting a return receipt.

Thanks,

Aaron

Fri, 09/03/2010 - 07:23 Permalink
cinnamngrl

Write a DV letter to each entry on your credit report. Report these irregularities to the TX Attorney General. TX law is favorable to consumers on debt.

Fri, 09/03/2010 - 11:05 Permalink
kevin smith (not verified)

Negative item is supposed to fall off after 7 years of reporting. However.In your case the debt has been sold a number of time.
**********
Kevin

Thu, 10/21/2010 - 15:55 Permalink