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Rachelmm007

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What is the statute of limitations for collection accounts on your credit?
I have some accounts that have been in collections for about 8 years and they just keep selling the account from firm to firm. I am not sure if or how I even start to dispute this. Can any one help?

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Selling the accounts to another company does not reset the reporting or ability to collect clock. The date that starts the reporting clock is the date of last acitvity or shortly after the default date.

However, if you made any agreements (even verbal) or payments on any of the acccoutns, then the reporting clock starts all over again. If you did this then you're out of luck. If you did not do this, then dispute the accounts with each credit bureau.  You can obtain  a free report from each bureau from annualcreditreport.com.

Also, here are the laws around the statute of limitation regarding when a creditor can sue you for a collections:

http://www.bankrate.com/finance/credit-cards/state-statutes-of-limitations-for-old-debts-1.aspx

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