Why is this old debt still on my credit report?

Everything I read says that collections come off of your report 7 years after the payment in question was missed. Now I have an old credit card that I didn't use or pay since my first year in college, at least 12 years ago. The company waited until 2004 to send the old debt to collection, and it's showing up on my report as a 2004 debt. Is that accurate (does the 7 years actually start whenever the company decides to collect?), or disputable?

Why is this old debt still on my credit report?
Ok, if they tryed to collect in 2004 then it is correct, its not the age of the debt that is considered it's the age of the last account management, so if they tried to collect in 2004 and you didn't pay they can put it into your credit.
Reply:Send the collector a debt validation letter and send the credit bureaus a dispute letter.





If it's not supposed to be on there and you ask them to remove it and they don't...they are violating your federal rights under the FCRA and FDCPA and can be sued for $1,000 per violation (on each report.)





So, either way you win if you do it right. Find sample letters and an introduction to credit repair below:
Reply:send a letter requesting removal of outdated items to the 3 credit agencies
Reply:what you need to do is write to the credit bureau and dispute.


Include any info you can on the old account.
Reply:The limitations for suing and reporting are 7 years from the date of first delinquency. This company is probably illegally reaging this debt. You need to send them a letter asking them to validate the debt and also dispute this with the credit reporting agencies. Go to www.creditboards.com/forums for some really great advice. Start out in the newbie section!
Reply:Mark needs to do a little research, as he is totally wrong.





Follow Chases advice, but let me add this.





The reason they are doing this to you is because the collection agency takes advantage of the fact you don't understand the law.





Read the links below. Send out the letters, send them certified mail, and keep track of your records. If it's not removed within 30 days you can easily sue them for posting this to your report.





Read the Fair Credit Reporting act and the Fair Debt Collections act.
Reply:Check one of the statute of limitations on this site for a description of how it works. Or go to www.annualcreditreport.com. It gives a detailed description of how this all works. I think it says the time starts from the time the judgment against you is issued. Usually, that's within six months of the time the account went delinquent. I'm not sure why they'd wait that long unless they're trying to get around the SOL by extending the time they wait before issuing judgment. If so it's a nasty new trick on their part (how dare they!). Joking, of course...
Reply:" The company waited until 2004 to send the old debt to collection, and it's showing up on my report as a 2004 debt. Is that accurate (does the 7 years actually start whenever the company decides to collect?), or disputable?"





Hell yeah that's disputable. A negative entry not including public records can only stay on your account for 7 years from date of last activity...so that's either the last payment, or charge off date (whichever is later). It is illegal to reage a debt, and selling a debt to a collection agency is NOT the same as a charge off, it is not considered a date of last activity for SOL purposes.





studly's right...read up on the FCRA and FDCPA. You can also try to look for an attorney on naca.net if you want.