Is there any way around the loophole collection agencies seem to have found in buying & selling your bad debt?
Liz asked:
I thought there was a seven year rule in that all bad debt on your credit report “fell off” after 7 seven years. It seems that now it might never go away. I unfortunately do not have a job, no prospects of getting one any time soon. Does any one know of a way to stop this?
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I thought there was a seven year rule in that all bad debt on your credit report “fell off” after 7 seven years. It seems that now it might never go away. I unfortunately do not have a job, no prospects of getting one any time soon. Does any one know of a way to stop this?
September 28th, 2009 at 1:20 pm
No, collection agencies can attempt to collect from you for as long as they want, but have to remove the bad mark on your credit report after 7 to 10 years (depends who the debt is to). YourAnswer…
September 28th, 2009 at 7:14 pm
Tell them they can’t call you anymore, they can only write. I had this happen to me, and they finally stopped calling after seven years, but only because I finally proved to one company that I had been a victim of identity theft, and they stopped selling my phone number.
Read, “Get Out of Debt, Stay Out of Debt and Live Prosperously” to learn more. Katherine W