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

Quote:

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Originally Posted by mr.yet

Are they in collection now?

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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.