[Colum]

I had a Sears card when I was in college. They reported it on my credit report in 1998.

They sold off the debt to another company in 2004. This company reported the debt at this time.

This extended the time it was to drop off my report. Now instead of falling off, it won't go off till 2011.

Is this allowed? Is this a loophole by the collection agencies to extend it?

I'm debating on paying it off, or trying to remove it. I've read that sometimes these companies have no right to take over the debt.

Thanks in advance for any help.

[ScottGem]

You admit you had a card. So I gather you used that card and didn't pay the bill. Do you think that was allowed? You want this off your credit report then pay the bill its as simple as that.

[Colum]

Not my question...

This is why more people don't use message boards.

There is always someone like this.

Don't waste your time posting, for that response.


How do you know the agency taking over the debt is even authorized to do so?? How do you know by paying that agency that the original debt will go away?

[ScottGem]

That's not quite the question you asked. Part of your question was; "I'm debating on paying it off, or trying to remove it." That's the part I answered. By paying what you owe, you take care of all the other questions.

However, if you are concerned about the collector's right to collect on the debt, then you can and should require they produce verification of that right before you pay. But companies sell off debt all the time. I've rarely seen instances where someone is trying to fraudently collect on a debt

By the way, plenty of people do use message boards.

[ttara81]

My thoughts exactly...