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

UPDATED: Feb 19, 2012

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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


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If there is an unpaid debt by you where the statute of limitations to file a lawsuit has passed, one option is to write the debt collection company that the time to file suit has passed and request that it be dropped from your credit report. Most debts stay on for seven years.It is up to the credit reporting company to determine how long an unpaid debt stays on a person's credit report.

If the third party debt collection company refuses to remove the unpaid debt from your credit report, you might wish to consult with an attorney that practices consumer law as to the ways to remove the negative comments as to you or retain a credit repair company to assist in removing the negative comments on your credit report.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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