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badkarma69

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I had unpaid accounts from over 7 yrs ago get 'renewed' by another company. why?
The accounts that were very small are now huge! They are all over 7+ yrs old when I went through a terrible time. regardless, how do they renew themselves? Or rather how does another company merely take over the debt, with a current date?

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When that 7yrs starts

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Credit reports are transaction based.  Meaning that the time of 7 years is based on your LAST PAYMENT, or in some states, your LAST PAYMENT ARANGEMENT.  Not when the account was opened.  If the item is reporting after that time frame, you can dispute it with the credit bureaus directly.

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more info

Although I am well aware that I owed I couldn't pay everyone.  That said, it was my assumption that after awhile they fell off the record.  Both accounts are well over 7 yrs old  

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