Can debt purchasers ultimately buy debt and post to your credit report indefinitely?

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Can debt purchasers ultimately buy debt and post to your credit report indefinitely?

A debt purchaser purchased a debt that came from a repossessed vehicle 4 years ago and is listing the debt open date as the date purchased the debt on my credit report. However, the date should have been 8 years ago, thereby the notation would have been deleted from my credit report last year. Now Ifear that every few years a debt purchaser will buy the debt and re-post it to my credit report indefinitely, effectively preventing the debt from ever coming off my report. Do I have any legal rights to stop this “loophole” in the system?

Asked on February 19, 2012 under Bankruptcy Law, Maryland

Answers:


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