Monday, October 15, 2007

How long do creditors have to post collections?

I was recently checking my credit report and noticed a new item in the collections area. How long do creditors have to post negative items such as collections? It is September 2007 and an item from August 2005 is now just being posted on my credit report. Can they wait two years to post it? Is there anything I can do to remove it or help raise my credit score?
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Creditors can report negative credit for 7 years.
Sometimes a debt gets the date of last activity changed or reported twice when it is sold to another creditor. So valdiate debt.
I got one the other day from 2003. I sent them a debt validation letter. If they validate the debt I will pay after making sure it is not on my credit report.

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