[fso301]

Sure, that is the specifics of the law. However, it gets reset whenever it is sold to a collector, or whenever they send a new notification...It gets pinged at each new transaction as a “new” debt.

Interesting. So you are saying that collection agencies selling a debt back and forth amongst each other for a penny could keep a persons credit score in the tank indefinitely?

[CSM]

I wouldn’t put it past them. They are scoundrels and will do anything up to and including breaking the law! What I do know is that they do sell them before the 7 years, and each time the sale occurs it is sold for a lesser percentage than the full amount. New company equals “new” debt that reactivates on the credit report.