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When a debt in collection is transferred to a new collector or lawyer does that become the new date from which it takes 7 years to remove?

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Answer

Yes, sorry.

Answer

I disagree with the first answer. If that was the case then nothing would drop off from anyone's cred it after 7 years. A collection agency could just sell the account back and forth. 7 years and it's done.

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I disagree with the first answer and I definitely agree with the second answer. It's done with at 7 years. Whoever answered the question the first time, probably did not read the question correctly.

Answer

I agree with the second and third answer. 7 years is the total time it takes for the item to come off. If on collection agency buys it from another, they have 7 years total to get this debt collected.

Answer

add on to the 2nd 3rd and 4th answer, it is from the original date the item first went in to collection. For example if the date is 1/2000 original date of collection with the first company the date that it comes off will be 1/2007 plus 180 days.

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First answer by ID3631541442. Last edit by ID3631541442. Question popularity: 164 [recommend question].

Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Debt and Bankruptcy > When a debt in collection is transferred to a new collector or lawyer does that become the new date from which it takes 7 years to remove?

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