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trackrunner90

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New collection on credit report that's 6 years old. When will it fall off
Recently got a new collection that is from 2010. I thought it was a bogus collection. So I called the number listed , found out it was from a old pay day loan I got back in 2010. On my credit report it's listed as open date dec 7th 2015. When will this fall off and did talking to the creditor reset the statue of limitations? I know it's usually 7 years that it will fall off your credit report but they got is listed as 2015 on the collections instead of 2010

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If the original account went into default in 2010, then the collections account will be removed in 2017. It doesn't matter what the "opened date" is on the collection as that has nothing to do with the credit reporting time of seven years. "Statute of Limitations" and "seven year credit reporting time period" are two SEPARATE things. The "sol" has to do with the length of time you can be sued for a debt. I would just let the account be, try to get an "early exclusion" on it when it gets closer to the seven year mark. And DO NOT contact the debt collector any more. You can do some reading on "pay for delete agreements" but it would probably be best to just let this account age off of your reports.

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