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Question By
Duane2553

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If I have a repossession removed from all 3 credit bureaus, do I still have to pay that debt?
So I had a repossession about 4 years ago. I pay a credit repair company to have things removed from my credit report. I have recently received my last credit report stating the the repossession was removed from it. Which is now all 3 credit bureaus. The collection agency is trying to tell me I still have to pay this debt. Is this true? Should I just ignore them and be on my way? Thanks

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Your liability and responsibility to a (any) debt aren't dependent on your credit reports. Credit reports aren't legal instruments and Credit Bureaus aren't arbitrators of your debt. A debt usually can only be discharged either, it's paid, forgiven by debt owner or thru Bankruptcy. Your "legal" responsibility to a debt usually determined by your State's Statute Of Limitations, the length of time you can be sued for that debt. Just because it was removed, it isn't given that debt won't be reinserted onto your credit reports, it can reappear anytime during its 7 1/2 years reportable length, unless it was removed because of fraud and or ID theft.

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Sorry if you were looking for just a Yes or No answer, it's not that simple. The "have to" is pretty broad term in the credit world.

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