bastian12

1 Contributions 3 People Helped

Member Since: July 2012

Most Helpful Contribution

How to dispute an error on your credit report

Nov 04, 2014
Helpful to 3 out of 7 people

While it is true that accounts can only be held useable against you for x-amount of years, the bank or other source you are liable to can--and usually does sell your account to a collection agency so they can collect pennies on the dollar for what you owe.  Once the collection agency buys your account, they can keep it open for collection indefinitely.  I am still getting calls for accounts closed from the 1990's.

Activity (1 Total Contributions)

How to dispute an error on your credit report

Nov 04, 2014
Helpful to 3 out of 7 people

While it is true that accounts can only be held useable against you for x-amount of years, the bank or other source you are liable to can--and usually does sell your account to a collection agency so they can collect pennies on the dollar for what you owe.  Once the collection agency buys your account, they can keep it open for collection indefinitely.  I am still getting calls for accounts closed from the 1990's.