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    jmagdaleno's Avatar
    jmagdaleno Posts: 7, Reputation: 1
    New Member

    Apr 17, 2008, 10:45 AM
    Credit Report
    If something has fallen off my credit report, can the creditors or collection agnecy put it back on my credit report? It has not been 7 years, close to 7. I have checked my credit report and it is no longer there. They are sending me letters in regards to this debt.
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
    Ultra Member

    Apr 17, 2008, 12:51 PM
    Not being on your credit report has no bearing on you still owing the debt.

    Normally, an item stays on your report for seven years from the last date it was reported, not necessarily seven years from the date you owed the debt.

    Seven years is a long time, are you in the US? If so, what state?

    While some go up to 10 years, there are many that limit debt to as little as 3 years so in your case, the time may well be up for the collection of this debt.
    jmagdaleno's Avatar
    jmagdaleno Posts: 7, Reputation: 1
    New Member

    Apr 20, 2008, 09:50 AM
    I live in Kansas. I know I still need to pay this off but My diability check is very small. I am just hoping they do not place this back on my credit report.
    butterbar77's Avatar
    butterbar77 Posts: 8, Reputation: 1
    New Member

    Apr 23, 2008, 07:09 AM
    Quote Originally Posted by jmagdaleno
    I live in Kansas. I know I still need to pay this off but My diability check is very small. I am just hoping they do not place this back on my credit report.
    If the debt is still outstanding then it can stay on your credit report indeninately until it is paid current and THEN it can stay there for 7-10 years. It probably fell off your report because it has been 7 years and the lender has not updated their reporting for 7 years. If they realize their latency they may update your credit report (which they should do). I'm surprised they haven't sent a collector after you.

    Don't take my word for it, but depending on what it is, they may have written off the debt as a loss on their books and decided not to pursue collecting (sometimes it cost them more to collect than it's worth). You may have lucked out this time. Ethics may says to contact the company and ask for a letter of forgiveness, but sometimes it's better not to stir up a bees nest. There are too many variables for me to know how to advise you (which I am NOT a professional, of which this is all my opinion anyways). I'd relax and move on. If it goes back on your credit report then that mean they want you to pay it still and then I would contact them.

    If that happens contact them! Tell them your situation and let them know you need to negotiate something. Things they need to take into consideration are:
    - changes in financial status from when they originally loaned the money
    - your disability (you don't have to be specific)
    - and the length of time they waited to collect
    Whatever you do tell them that you will not pay until they agree (IN WRITING) to remove their item from your credit report immediately upon receipt of your payment. AND you may try to negotiate a reduction of the balance owed (sometimes as much as 70-80%!). Whatever you work out get it all in writing.

    Good luck and hope this helps with future troubles :)
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
    Uber Member

    Apr 23, 2008, 07:34 AM
    Hello jm:

    You owe it, and you'll owe it forever. The statute of limitations will prevent them from suing if it's expired, and the credit report only "reports" the debt.

    The term "written off" is a tax term. It has nothing to do with whether they still want their money, or their ability to collect it.

    The Fair Credit Reporting Act requires the debt to be removed from view after 7 years of no activity. That's YOUR activity - not the collection agent. If they put it back on your report, you can challenge it and have it removed.

    If your disability check is from SS, then it cannot be garnished. If that's your only source of income, then you're JUDGMENT PROOF. That means, that even if they did sue you and win, they can't collect...

    They know that too. Write them a letter. Tell 'em that fact. Tell 'em to sue away, if they wish. Send your letter certified, return receipt requested.

    Dr D's Avatar
    Dr D Posts: 698, Reputation: 127
    Senior Member

    Apr 23, 2008, 09:16 AM
    If I were you I would IGNORE and NOT respond to their communications. There are collection companies who buy old debts for a fraction of a penny on the dollar. If you admit to this "Phantom Debt", you can restart the 7 year clock again.
    jmagdaleno's Avatar
    jmagdaleno Posts: 7, Reputation: 1
    New Member

    Apr 23, 2008, 12:16 PM
    Thank you all so much for your input.

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