Do collection accounts age off your credit report after 7 years?
So I have debt from store lines of credit to a bank credit card. I haven't paid on them since at LATEST December 2007. Chase, citi financial (store line of credit) and Sears line of credit all have it showing closed but I am getting reporting from some debt collector companies.
I live in Arizona and just ordered my actual credit report today. I viewed the information online through a credit score tracking website. I read a lot of comments and researched online somethings. My questions are can any of them take me to court still because from what I read some debts are 3 years and some are 6 here in Arizona, I am not sure what they fall under, also at 7 years they have to stop reporting to my credit so I am told. Does this mean that it will show the old reports but they cant continue to report and since the original lenders have the accounts closed can the debt collector who purchased the debt also show up as a closed account or do they just disappear forever?
Any information to better understand when or if this will ever not be an issue for me would be helpful, as these debts were ran up by my ex and are thousands of dollars I cant and haven't been able to afford to even attempt to fix.
Do collection accounts get removed from my credit reports after 7 years?
—Jennifer
Short answer
Yes, but the clock is not the one most people count from. Negative items stay on your credit report for up to 7 years measured from the first missed payment to the original lender, and every entry tied to that same debt should age off on that same date.
Key points on this page
- Original lenders and creditors show payment default for up to 7 years from when you stopped paying.
- The 7 years starts at the first missed payment to your lender, not at the date a collection agency or debt buyer picked up the account.
- All negative trade lines related to the same collection account should age off at that same 7 year mark.
- Only one entry for a bill should show an unpaid balance. If a debt buyer reports a balance owed, check that the original lender no longer shows one.
- A collection account reporting a newer date of last activity prolongs the credit damage, so compare that date against the original lender’s.
- If the debt is still inside the statute of limitations to sue, a dispute can wake a collector who was not bothering you. Weigh that before sending one.
Original lenders and creditors show payment default on your credit reports for up to 7 years from when you stopped paying on the account.
When you first miss payments to a creditor or lender, you will see late pays show up in 30 day blocks of time on your credit report. If the accounts remain unpaid long enough, those 30 day incremental late pays turn into a charge off reporting on your credit. With credit cards, charge offs normally occur within 180 days of consecutively missed payments (they can happen sooner than 180 days).
The 7 years the negative item stays on your credit report starts from the first missed payment to your lender.
When your accounts get this far behind, it is standard to have the account placed with outside collection agencies, and often repeatedly. Many creditors have a practice of selling off debts that remain unpaid long enough to debt buyers. They are legally transferring the rights to the debt to someone else, as is often laid out in your original contract with them.
Collection Agencies and Debt Buyers Showing Up on Your Credit Report
When an additional entry from a collection agency shows up on your credit report it is important to look for some key items:
- Is the new entry showing a balance due? A debt buyer who reports a collection account to the credit bureaus with a balance owed should be matched with the original lenders negative credit reporting to be certain that the original lender no longer shows a balance is owed to them. You should not have more than one credit entry showing an unpaid and due amount on your report for the same bill.
- Does the collection account show a date of last activity on your report that is different than the date your original lender is showing? Collection accounts that are reporting separate from, but related to an existing negative item on your report, should not show a newer date. If a newer date is used by a collection agency reporting, it prolongs the credit damage and will take longer for you to improve your credit.
All negative trade lines related to the same collection account should age off of your credit report at the same 7 year mark you use to calculate your first missed payment to your original lender. The exception used to be when people got sued for collection and ended up with a judgment over one or more of the debts – which would show in the public records section of your credit report for 7 years from the date judgment was entered in the court.
Most judgments obtained in state courts were taken off our credit reports with Equifax, Experian, and TransUnion as of July 2017
What to Do If You Need to Dispute a Collection Account on Your Report
I will have an upcoming article about disputing incorrect information on your credit report, but for now, it is important to consider the following:
If your debt is within the SOL (statute of limitations), to legitimately sue you for collection, you should carefully consider whether or not to send a dispute about a collection account on your credit report, even if it is showing incorrect information. When there is still room on the clock to sue you, sending a dispute may wake the collector to the fact that you are:
- Still an unpaid account.
- Care enough to start cleaning up your credit report (usually for some credit goals, which means you are more collectible).
If your debts are beyond the SOL to sue you legitimately, you should have less concern about waking a sleepy debt collector who may not have been bothering you, with disputes about getting your credit reports corrected.
Legislation was passed in 2011 that changed the SOL from 3 to 6 years in Arizona. Given the information you shared about 2007 being the earliest date of last payment, your debts may/may not be off of the current debt owner’s radar. You would need to be certain about the date each of account was last paid. Any of them you know were paid last in 2006 would be clear of the SOL.
Reviewing your credit reports for accuracy when you know you have old collection items is important. Staying on top of when and how to get your credit reports corrected will help you plan for future access to credit at fair prices.
If you have a particular issue or question you can post in the comments below for feedback.
About Michael BoveeMichael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry. He is available to speak with you about your financial struggle and helps people resolve their debt problems daily.
I have a question. I have a few negative accounts on my credit. They are all placed in collections and the status is open. The original delinquency dates are about 5 years ago. Would these fall off my report at the 7.5 mark?
They should, but be sure to monitor them at the time to make sure they do.
Had an unforeseen situation a few years back. My wife was diagnosed with cancer and sadly passed away last February. We were trying everything and anything to help her and most was out of pocket expenses trying alternative procedures. She also had radiation and chemotherapy at Dana Fabar in Boston. Needless to say our credit cards were maxed out and eventually I could not keep up with the payments. I worked with a company “The Davis Law Group” out of Staten Island, NY. They are a credit negotiating company. This was a big mistake on my part. I realized later I should have handled it all myself.
So I had 5 cards go into “Charge off” status and my credit score took a huge hit.
I just began settling with the third party groups and this is were I stand:
PNC Bank – settled for less than the original. settlement = $858.36 0n 9/14/2015
Chase – original $4701 – settlement = $2355 on 8/25/2016
Chase- original $4354 – settlement = $2180 on 8/25/2016
Barclays – original $6035 – settlement = $2535 on 8/22/2016
Capitol One – $2976 – Have negotiated settlement , but need to call this Monday to verify the settlement and send payment. 9/2/2016
Both Chase cards sent me “Settlement Agreement Confirmation” letters and I have check stubs for documentation
Barclays has not sent me a settlement letter but I have bank stub documentation and I am calling them Monday 9/12/2016
PNC was settled back in 2015 when I had no idea what I was doing. I am calling them also on Monday to send a settlement letter. I do have documentation of payment. It was a payment plan: 6 payments of $183.11
Capitol One – We agreed on a settlement and i was supposed to send a payment on 9/5/2016. They did not provide me with a settlement document so I am calling this Monday to verify our agreement.
My main question is, How long will it take to get the “Charge Off” taken off my credit report? Can they be taken off because I settled for less? Is there a letter I am supposed to send to the credit bureau to remove the charge off. Please, any info would be great. I am feeling horrible about this entire mess I got into.
The fact that your account went all those months without payment and then charged off is going to stay on your credit report for up to 7 and one half years from when you stopped making your payments. You cannot send a letter to get them taken off. All of the accounts you have settled should be showing a zero balance owed. Your remaining accounts are going to show that soon. All of these resolved collections will help you bounce back credit wise, and to the point you can get a home loan, car, or other loans.
There are new credit score models from FICO and Vantage that do not factor in paid collections. And more progress is being made in that direction too.
I have a question I got a call from a debt collector claiming I had a cell phone account in 2003 that they are trying to sue me over now. 13 years later? Should I be worried?
I would not be concerned about collection efforts on a debt this old. They cannot sue and it should have dropped from your credit reports long ago.
I’m still so confused! Please help! I have one collection account on my credit report from a medical bill with a date of service in 2011. My credit report shows 2013. For the debt (which was when this collection agency started with this bill). I was told to call (by a friend ) and offer to pay half if they would report paid as agreed and remove from my report. The collector was agreeable but he would not send me a letter, he wanted me to email him the offer and I just stopped there because of my confusion. To muddy it more…this debt may have been paid as I had 4 er visits and one hospital stay all in 2 weeks. I thought all accounts were done and paid but I have moved a few times and in general with health now I couldn’t begin to try to find receipts.
What is my best choice of action at this point? When will it come off my report? I’m in Illinois if that matters.
Thank you very much for your time.
Based on the dates you shared it would come off in 2018, or early 2019.
What type of credit or financing are you looking to accomplish between now and then?
I’m not planning any purchases. I’m just trying to get things cleaned up in case.
Thank you very much for your quick response, I wad worried I restarted a clock.
Thanks that was real info I can use and not go away scratching my head.
My question is that I have several accounts in collection from around three years ago. Most are reporting the actual closed dates of the original account except for Portfolio Recovery who is reporting an open date near the time as to when the original account closed, but show no closed date. Is this going to affect my credit for a longer period and/or what does this mean to my credit’s future,
Portfolio Recovery and Associates should not be showing on your credit report in any manner that would extend the time for it to appear. In other words, PRA should be showing as set to come off your credit at the same time as the original creditor.
PRA being on your credit is affecting you for sure. And it being an unresolved collection is often going to have a bigger impact than if it were a resolved collection.
Hello Michael I am on Disability for years because i have seizures
and i have a couple of loan companies and rent and doctors to see
and there is co- payments i have to pay . But i owed Merrick bank
1.835.48 and i have not paid them in two years and it’s charged off
and they turned it to Carson Smithfield LLC and they don’t call me
but sending letters it’s the second within two weeks and i called
them try to explain i can only send 25.00 a month now i am worried
if they are going to take me to court please give me some advice
Thank you !
Check out this video I did from a couple weeks ago about how your protected from debt collectors when on disability.
This is awesome, thank you. I have a question for you…
I am in the process of trying to clean up my debt. I HAD 3 accounts in collections, 2 of which I paid off in June 2016. The first paid off account was with Cooling & Winter – they removed the account from my credit report. I have another with PRA (GE Money), and it is still showing on my report as open with a $0.00. What can I do to have this removed from my report? At the very least, I would have expected that, if it were going to be reported at all, that it would be reported as closed. However, given C&W completely removed their account from my report, I have a little hope that I can do the same with PRA.
Separately, I am in FL and have an old Capital One debt that was last paid on in Dec, 2011. It is set to expire the SOL Jan, 2017. I noticed that the last date the balance was updated was Aug, 2016. I thought that was strange, because there has been no activity on it since January 2012. Is this typical?
Apologies, I need to update my post as now that I have looked a little deeper into my credit report, have further information.
I was incorrect in saying Cooling & Winter removed an item. C&W are attorneys working with / for PRA — the account that is still showing $0.00 and active on my credit report.
The account that was removed was FLG (Cach LLC).
The outstanding account (which I still need to settle…but can’t seem to get them to go anymore than 10%) is Midland, where the balance is 1375.00. In the meantime, I’m in a payment arrangement with them.
You cannot get Midland to settle for less when you are currently making other payments to them.
It is unlikely that PRA will remove that paid collection from your credit report. But you may not need them to. These days you can bounce back fairly quickly with paid collections.
It is typical for creditors to update your credit reports, even when the balances are in collection, and when nothing really changed.
I have a collection for a medical bill since 2011. And it was reported on my credit report from Equifax lately. All along i thought that it has been cleared with my insurance. And now it seems that it was bought with another collection agency. What can i do to resolve this issue? FYI the hospital that i had the original debt has been out of business. And i had it dispute with Equifax online and have it verified if it was mine. Though the result says that it was. So what are the things that i needed to do in order for it to be removed from my credit report?
Are you saying you should not owe the debt? Have you connected with your insurance company on this?
If you do owe, you can negotiate a lump sum pay off for less than the balance. It will update to your credit as paid. Paid medical debt does not hurt your credit much, or at all these days.
I have a company that says we have a mortgage with them. They have changed there name a couple of times. They reported to the credit that we have not payed them and documented this in 1998. We filed bankruptcy in 2001. We have not received any kind of bills but we are trying to refinance our home and now it shows on our credit. That has been 18 years ago. Please tell me what is happening and is there anything I can do about it.
You don’t see something like that very often. I can see it causing a problem with title, but not popping back up on your credit reports. Fill in the “talk to Michael” form in the right column of this page. I will email you to set up a time to talk on the phone and get more details. I want to learn more about what happened then, and what is going on now, in order to offer better feedback.
Hello I have a couple unpaid apartment debts that are set to be removed from my credit report in a year. After they are removed should I be able to qualify again for an apartment?
In most instances you should be able to.
My capital one credit report shows i have 12 derogatory a few weeks ago it said 15 does this mean some of my collection accounts have fallen off (removed)?
all 12 are hospital charges, i suffer from severe asthma and had to be hospitalized a lot between 2007-2012
and my 2nd question is on that list it shows child support but with $0.00 balance. I don’t owe any child support (seeing as i have custody of my children) why is it on the list and is that affecting my credit?
You can check your credit reports through http://www.annualcreditreport.com for free (one form each bureau in a 12 month period). That will tell you if some old collections are dropping from your credit. From the dates you mention that would be good bet.
Have you ever owed child support?
Very good article and gave me some clarity on a number of things. However, I am curious about the following: I currently have a bill in collection and according to my TransUnion credit report, this item is scheduled to fall off my report in April 2019 (along with the original creditor’s negative item).. I have been making payments on this collection for the last year and will continue to do so until it is paid off. With that being said, if I still owe a balance on this collection in April 2019, will it still fall off my report when it is scheduled to do so (as my present report states)? I still have every intention of paying it after it does fall off, as I know that I could be sued in a court of law for the remaining balance (the statute of limitations would still be in effect).
Thank you
It will still fall off even though you continue to make payments.
It appears your account went into collection far enough so that it could not be reaged, which is common.
Thank you for the quick response. We were able to set up a settlement and are waiting for the “paperwork” to be sent to us regarding the terms, so as to have something concrete and in writing and to also avoid any potential legal measures.. It’s good to know that this will still fall off in 2019. Thank you again for your assistance.
I checked up on my credit via CreditKarma.com earlier today and the collection I noted above has been removed from my TransUnion report. I have two questions: 1) can this collection be re-inserted on my report? 2) I have a solid, written-out contract with the collector for this debt.. Do I keep making payments on this? Suppose they sold the debt to a new collector? Part of me wants to contact the collector, but also I feel like I’d be poking a sleeping giant. Again, this debt I believe is scheduled to come off sometime in 2019, as that is the date of last delinquency on the original creditor’s account.
Thank you
If an account was removed, but can legitimately be reported, I do see them pop back on. Just be sure to check from time to time, and that anything showing on your credit reports is accurate, complete and current (not just the collection account should it reappear).
If you made arrangements you can keep with them to avoid litigation. Like you said, you may have reset the SOL with your payments.
You should not have to worry about the account being resold if you have an agreement. Let me know if something like that happens and I can help you from there. No matter what you have going on, be sure you get it documented and have the ability to show any and all payments.
I definitely want to pay back my debt. I was just in a tough financial situation going back, and only within the last 2 years have been able to start getting things under control. Like I said, I have a written up contract (payments per month for X amount of months) from this collector and have made multiple copies to keep in a safe place. Should I continue making payments with them since we do have an agreement in place? Also, when I contact them to schedule my next payment, should I inquire about the removed collection and ask what’s going on? I definitely agree that if there is a contract set-up, it would seem odd for them to sell the account off, I just don’t want to send them a payment and the account has been sold off, thus essentially negating the payment.
Who is the debt collection agency you are dealing with?
American Coradius International, LLC.
If it were me, and I had the arrangement and ability to follow through, I would continue with the payments. I would not bring up anything about the removal from my credit reports. It is a good thing it fell off early, and I would not alert anyone to it without a purpose.
Now that tax season is upon us, I recently checked the lender’s website to see if they are issuing me a form 1099-C for cancellation of the debt on a collection I paid off in August, 2016. It states on their website that I don’t have any amount ($0.00) filed under “cancellation of debt.”
If I am right to assume they haven’t made a claim to the IRS, since the numbers have just become available, do I have to file the 1099-C for this tax season?
Essentially, they aren’t making claim, so why should I have to?
They could send it next year. There could be an error with what you see online. They may never send one.
It is often just best to get the accounting part over with. But run your situation by a tax professional and see what they say.
I received a call from an agency called Priority One. It was a recorded message saying I owed 1690 etc and that I needed to call that minute and then I recorded message said…my name and ‘you have been served’…so I called this guy back and in a fog I agreed to payments….I asked what the amount was from, he said payday loans but no other info …I have had a year of cancer treatments and did have a few loans which I paid off. He called me right before first amount was due to make sure I had the funds. By that time I had looked them uo on net and they have a horrible reohtatiin. I have since closed my checking account and have paid him 500….my bank has filed a fraud ckaim. What di I do if he comes back to me. The phone numbers he gave me never work.
Check out my these to articles about scam debt collectors and filing complaints with the CFPB.
I leased to own a truck. Sept of last year was the last time they reported to my credit. I called the sales department about this. They told me they have been reporting every month. I filed a dispute with trans union and in 3 days the loan disappeared from my credit as if it never existed. Is that normal. I’m upside down in the loan so could I tell them to pick up the truck and it not affect my credit?
You will typically see a repossession show on your credit reports if you voluntary surrender a vehicle. After auction you will most likely owe a deficiency balance.
I read your comment to say that the truck loan was showing as a positive on your credit reports and that you disputed it and TransUnion deleted. It is not normal to dispute a positive item, and while TransUnion may have removed it, that could just be temporary.
Hi! Old Verizon Bill sold to pinnacle (original in 2010 or 2011) still on my credit with pinnacle offering me settlement letters date on credit report say Oct 2014… this is only debt on my credit report..when will it fall off? Sol I believe is out for PA letter says they can’t Sue me….just want this to go away!!
Did you stop paying it back in 201o/2011, or is 2014 when you stopped?
I recently had a negative item removed from my credit report on dates between July 20 and July 27 of 2016 the collection agency was challenged a dispute bye Lexington Law
the same week month year the negative item was again replaced on my credit report as a negative item in collection. it was the same collection agency although it’s showing on report same name with llc to fallow one and systems to fallow the other. is this legal to be removed for inaccurate reporting bye one name to only be re submitted for collection same company
Credit repair companies often have some success with removals only to have the items pop back on. It tends to mean the furnisher (bank or debt collector) pulled your file together to report correctly.
Is this a situation where the debt is not legitimately yours, or some other error?
This may seem like a wild story, but here it goes!
Back in 2010 I had sold my car to someone in Iowa as I was moving to South Dakota. In a matter of weeks after selling my car the new owner lost the car to a towing company due to the car sat in the same spot for too long. The new owner never put the title in his name and the towing company ended up sending the bill to me through a collection company, Noll Collection Service. I went a copy of my bill of sale to this collection company and they told me that the bill of sale was not enough to prove that I sold the car to someone else. So this collection has been on my report since Feb 3rd 2011. They have since stopped calling me and sending me letters but it appears they are still updating it through my credit report monthly. Will this automatically fall off my report at the 7.5 year mark of the initiation date on my credit report? Or will it continually stay on my report since they continue to update it monthly?
Generally, negative accounts drop off your credit 7 and one half years after you stop paying, or in this case, the debt began on the first day it was towed.
But this does not appear to be your debt. I would file a complaint against the debt collection company with the CFPB. Read that article and follow through to the links to file the complaint and get this resolved that way.
You might even file a credit reporting complaint too if you have already tried to dispute the debt as not yours with the credit bureaus.
Let me know what happens.
I’ve got a question for you! I recently received a letter from a new collection agency offering me a 60% pay off. I do not have the funds for this seeing as I just had a baby and am not working right now so I went to look and see when they are supposed to drop off. I am in Washington state and I read that they only have 6 years to sue me for the debt. On my report it shows the the date of 1st delinquency was 07/2010. I’m not too concerned about my credit score seeing as I know there’s a long recovery for that. I’m mainly worried about them trying to sue me or have a judgement put out on me. Seeing as it will be 6 years in a few days does that mean that unless they have a judgement against me within the next couple days that I will not be sued for that debt?
The SOL to sue typically goes by date they file. If you see not case in the court record now, it is highly unlikely the collection agency would wait until the last 3 days to file. Are you certain you never made a payment after that?
This specific collection on your credit report may only have 18 months left before it drops off. Are there other collections on your credit too?
I have a question. A debt I owe is dated back to 2010 but on my credit report it says Nov 2014. How is that aloud? Can I dispute it or should I just pay it off?
Are you saying you last made regular payments in 2010? The account is showing as opened in 2010?
What type of account is it?
How much is it for?
What credit goal do you have that is motivating the look at improving your credit?
I have an old account that dropped off my credit report because it was older than 7 1/2 years old. It recently showed back up and I have not done anything with the company or the collection agencies. It just showed up may/2016 saying last activity 2013 (not true). I am trying to get a loan for my last year in nursing school and can’t because of this on my credit. I may have to drop out of school. Is this something I can dispute as it is way older than 7 1/2 years? I think my loan got sold to a new company does that mean its activity is current again? I live in Oregon and it is past the point they can sue. I use to get letters saying we can’t sue you but still want our money. Does this “newer activity” on my credit make it so they can sue me? Thank you for your help, I’m so confused with all of this.
Items appearing on your credit reports – that are too old to – can and should be disputed off. What you described is unfortunately all too common when accounts are resold. Who is it that is now reporting the debt?
Here is what I recommend:
File disputes with the credit reporting agencies on line or in writing. You are disputing the account as an error in that it is too old to show on your credit reports. The credit bureaus have up to 30 days to investigate your dispute. If they come back saying the account is verified, and you know for a fact that it is more than 7.5 years old move on to this next step.
File a credit reporting complaint with the CFPB. The CFPB has regulatory purview over the credit bureaus and many debt collectors. Your complaint will often be seen by employees at the credit bureaus and debt collectors that have an increased amount of training and ability to make corrections. I am seeing a couple of week turn around on responses to CFPB complaints.
Because your situation could prevent your loan for school going through, and if it were me in your shoes, I would skip the first option and go right to the CFPB complaint portal. I would spell everything out in chronology (about when you stopped paying the original creditor, they are no longer on your credit reports, this new debt owner is etc).
Something appearing on your credit reports will have no impact on your state SOL and how long they have to legitimately sue you in court to collect. If they think, or were given information at purchase, that you last paid in 2013, you will be changing their view with your disputes or complaints.
If you want to escalate this at anytime let me know. There are a couple of really great consumer advocate attorneys in Portland with all the FCRA and FDCPA experience you would want.
Wow. I just went through years of information that you have provided to others and it was the most helpful information I’ve seen since beginning my research! Thank you!
My husband and I want to buy a home this year and I’ve been working on improving his credit. He has 2 collection accounts on his credit reports with only 1 original creditor showing that are scheduled to fall off in 2017 but ideally we’d be shopping for a home and home loan before the end of this year. We are in California and I know he cannot be sued for this debt anymore.
Midland Funding (Original creditor Best Buy) Amount Due: $1,166
Portfolio Recovery (Original creditor not listed on report is Capital One Bank) Amount Due: $1,960
My questions are:
1. Best buy shows:
Date closed: 1/20/2006 “Maximum Delinquency of 120 days in 01/2010 and in 12/2009”
Last payment made: 12/22/2010.
Scheduled to be removed: 04/2017
You mention in your article that “the 7.5 years the negative item stays on your credit report starts from the first missed payment to your lender.” Does this mean that this date should be 01/2010 or is the 12/2010 date correct?
2. Midland funding shows an estimated removal date of 05/2017. Shouldn’t it be 04/2017 since the original creditor is Best Buy and that’s what’s listed. Would you recommend disputing this?
3. Since Capital One does not report to the bureaus, how could we verify the first missed payment date for the Portfolio Recovery collection? This one shows that it is scheduled to be removed by 10/2017 but if you have tips for finding this information, please let me know.
3. If we negotiate a settlement/pay the debt with the collection agencies to obtain the mortgage as required by some lender as you’ve mentioned previously, the accounts should still fall off in 2017, correct? That is, they can’t restart the clock on reporting?
Thank you so much for your help!
Sorry Michael. Quick clarification:
For no. 1:
Date closed: 01/20/2009
“Maximum Delinquency of 120 days in 01/2010 and in 12/2010”
When we stop paying on a credit card like Home Depot, most of us do a hard stop. I mean we stop paying and do not make additional payments. That makes the date to calculate when something will drop off our credit reports easier.
There are many who will miss a payment or three, and then make one or two, and then stop again. But that does not impact credit reporting longevity unless we bring the account completely current. That would mean all missed payments, penalties and fees, all get paid up to date. Credit reporting for credit cards gets a bit wonky when this happens.
Can you determine when all payments stopped, and whether any accounts were brought completely current if payments were intermittent?
I would only recommend disputing the one month difference that Midland Funding is showing if you are colse to that date and needed it off 30 days early for some reason, otherwise it serves no purpose to dispute a 30 day window.
With the Capital One and PRA situation, can you look up old bank records to show when payments were last sent in? If you do not have physical statements you can often get your bank to go into archives for a few dollars and get old statements (if they still have them).
If you settle the collections they will still fall off on schedule. There is no extra life that gets breathed into them from the settlement or pay off.
Thank you. The hard stop makes sense. I believe he made an effort to pay when he could during that period (construction job) but I don’t believe he ever brought the accounts current. I just found it strange that Best Buy closed the account in January 2009 but they still recorded a payment in December 2010. I was hoping we could argue that the account was closed in 2009 because he was already in default and the clock could start there. Either way, it seems like we may need to simply pay it if the mortgage company says we should when we apply for the loan.
Thanks again for your help!
It is better to settle an old debt before you apply for any new loans. Check out this video I did with a former debt collector: https://www.youtube.com/watch?v=QpdDks73QUw