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Question By
abbyamodio

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How to remove collection accounts that have been sold
I have a collection account that is showing twice. It was sold to another debt collector recently and the first one shows as closed. The credit card was originally delinquent in 2011. I have heard the 2 yr. rule on collection accounts that states that a collection will drop off 7 yrs. after it first became delinquent and that if a collection is more than 2 yrs. old not to do ANYTHING as it will start this cycle over again. What is the best way to get this removed? Original debt went delinquent in 2011 and then was sold to a collection agency and last reported on July 2015. What's the best course of action?

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Doesn't matter how many times the debt is sold, each agency will report it because they become part of your credit history.

There is no such thing as a 'two year rule'.  The one rule one needs to consider is the Statute of Limitations for Collections, which varies by state.  While a collection will be noted on your credit report for 7 years from the date it goes delinquent, the maximum time anyone could try collecting might be as short as 4 years in some states or as long as 10 years in others.

This account cannot be removed.  Best way to avoid the hassle is to make sure you pay your bills on time. 

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