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No it is called re-aging which is federal violation, collection agencies do this to refresh the SOL so they have legal recourse to sue you for the debt.

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Q: My credit report shows a delinquent account from 2005 a collection agency is listing it now reported as of 6 2009 is that legal?
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If you settle for a lesser amount due from a collection agency will it have a negative affect on your credit report?

Any collection account on your credit report is considered a derogatory listing regardless of status (unpaid, paid or settled). All accounts of this type have a negative impact on your score depending on when they are last reported/updated. Since settlement is paying less than the full amount due, this is obviously seen as less favorable than paying in full. But, once again, it is the date last reported that impacts the score.


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Absolutely. Repossession, whether voluntary or involuntary, show on your credit report as a charged off account. This designation is similar to a collection account and shows that you did not repay the vehicle loan. Such a listing in your credit report would have a significant negative impact.


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The appearance would depend upon whether or not a lawsuit was filed and granted. The original credit card account should appear on your credit, its' delinquent status, history, Date of Last Activity (DLA), zero balance and some indication of sold or transferred. The collection agency account will comprise a 2nd listing, referencing back to the original account and contain the current balance, the DLA (which should NOT have changed), and the dates the track when the account came to be in their possession. If a suit is filed and judgment is granted against you; that would comprise a third listing of this account on your credit report. This would appear in the public records portion of your credit and have the starting date of when the judgment was filed. It has its' own length of time for reporting purposes and would need a legal disposition (a satisfaction of judgment) in order for it be closed. Once a judgment is granted against a consumer, creditors may then undertake any legal remedies available under (your) state's laws. These include wage garnishment, freezing of bank accounts and attaching liens to real property.


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If a collection account has been removed from credit report will it get effected by the 'last activity date' if a person pays the balance off?

It may. There is no way to tell what the repercussions will be. If the company (assuming that it is a collection agency and not the original creditor) is willing to take your payment and not update the now non-existant credit listing, then it may have no effect, except to clear your conscience. If it is an original creditor, like a credit card company; their processes of reporting and updating bureaus are so fragmented and automated, they may not be aware of, or able to control, the reporting of information to the bureaus. A paid collection with a recently reported date MAY find its way back onto your credit and impact your credit scores. Technically, the date the account was paid is NOT the date of last activity. However, this error is a common occurence and may happen in your case.


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