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SandwichFace

Collections from Portfolio fell of and now it's back. When does statute of limitations end?

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Had a credit card for $3500 with CapOne. They sold it to Portfolio. I sued Portfolio for a different account and they ended up removing both from my report. Now the $3500 credit card is back. It's been over 7 years since my DOFD for the card. Also, the derogatory mark for $3500 was on the report for years before it fell off. My question is, when does the clock start for this to age off? The DOFD of the credit card? The time it first appeared on my report? The time it just reappeared on my credit report? If it's from the time that it just reappeared on my report, then that seems incredibly unfair. If that's the case, they could just leave negative accounts on reports for years, then pull them off when they're about to reach the statute of limitations and then add them back again later to restart the clock.

 

Also, a month or so ago I received a letter basically saying that my debt is past the statue of limitations and they won't sue me for it but my debt is owned by Portfolio.

 

Any advice would be appreciated. Giving me the right search words for what I'm looking for would be helpful as well; I don't know what this is called so I'm not sure what to google.

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Had a credit card for $3500 with CapOne. They sold it to Portfolio. I sued Portfolio for a different account and they ended up removing both from my report. Now the $3500 credit card is back. It's been over 7 years since my DOFD for the card. Also, the derogatory mark for $3500 was on the report for years before it fell off. My question is, when does the clock start for this to age off? The DOFD of the credit card? The time it first appeared on my report? The time it just reappeared on my credit report? If it's from the time that it just reappeared on my report, then that seems incredibly unfair. If that's the case, they could just leave negative accounts on reports for years, then pull them off when they're about to reach the statute of limitations and then add them back again later to restart the clock.

 

Also, a month or so ago I received a letter basically saying that my debt is past the statue of limitations and they won't sue me for it but my debt is owned by Portfolio.

 

Any advice would be appreciated. Giving me the right search words for what I'm looking for would be helpful as well; I don't know what this is called so I'm not sure what to google.

 

The 7-year reporting period is based upon the date of first delinquency. From the FCRA:

 

© Running of reporting period. In general The 7-year period referred to in paragraphs (4) and (6) of subsection (a) shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.

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