Redate, Fair credit reporting, collections, seven years limit

Quoting REAL PERSON>:

Hello Bo,
My name is REAL PERSON, I am 26 years old and I need some help. I have heard so many different things out there that conflict and I am hoping you can help shed some light on them for me. First, I have two items on my credit that I never paid back when I was 18 years old. I was having some trouble then and I didn't ever pay them. I was told at the time it would take 7 years for those items to come off my record. It has been longer than that and the items continue to be redated and updated by the creditors. OR they are sold to another one and the date moves up again. My question is in regards to the 7 year rule. Is the seven year rule in reference to when the account was first reported as being negative? is it when its sold and re-established by another company? or does it start from the date that you pay it? I would like more information, like a reference site, or somewhere where I can find the actual letter of the law.
If you can help I would appreciate it!!!

Warmest Regards,
REAL PERSON

Real Person:
This is the most dangerous game played by creditors along with bureaus who alow this practice. Selling the debt to another company is the most common form of redating I know. 7 Years start from the date of last activity on each account. So the first account should come off for sure. The letter of the law is found here and the letter favors #1 creditors, #2 bureaus, #3 smart people who have been defrauded and the like, and #4 people who don't pay there bills on time occaisionally, or had an illness or problem with a job and probably don't have a computer to see the law. The last (#4) being an oxymoron. These people need help. Almost all people have no idea what to do about bad credit and how the process works. A person disputes a credit entry to the bureaus and they in turn contact the creditors to verify the good or bad credit. The creditor then must respond within the 30 days of the BUREAUS request not yours either verifying or denying the credit entry. If they do not respong within 30 days the item should be removed.

Now if you read that ftc thing, you will notice nothing about collection redating. And you will not unless the ACLU or an enormous number of consumers get togther to make a change.

What is happeing to you is wrong and should be outlawed. But I don't think there is a letter of the law you can stand on.