Hi,

Concerning the Debt Validation / Verification process:

If a debt is due to expire (over 7 years old) in a couple of months, is it better to validate /verify it; or wait it out and then get it removed - that is, will the act of verifying the debt renew the life of the debt if it is proved to be valid?

-Ena

The only thing that can renew the life of the debt is if you pay something on it. I would wait it out. A few days before the 7 years expires, send certified (with return receipt) to the credit bureaus and tell them that the Fair Credit reporting Act states that any accounts that have been inactive for 7 years must be removed from your credit report. Tell them that you want the account deleted.

Are they in collection now?

Hello ena:

The fair credit reporting act says that negaive items will come off the report after 7 years of no activity. If you are in collections, the account IS active and the clock starts again.

excon

Are they in collection now?


Thanks to everyone for the advice...

They are listed on my credit report as being held by a collection agency, but I have made no contact with; or payments to the agency.

-Ena

Send credit report companies a letter to verify the account, if it cannot be verify it must be remove, use the time frame you have.