Asked in Debt and Bankruptcy
Is it legal to relist a 12 year old debt once it has fallen off of your report?
The Fair Credit Reporting Act states that "...the statute of limitations...shall begin upon...the expiration of the 180-day period beginning on the date of commencement of delinquency which immediately preceeded the collection activity..."
It further states that "...paragraph (1) shall apply only to items of information added to the file of a consumer on or after the date that is 455 days after September 30, 1996."
Check out this website for more specific information that may help you dispute the reappearance of this item: www.fair-credit-reporting.com/credit-reporting-periods.HTML
If they have continued to send a monthly statement, then yes it is legal. If they have not sent a monthly statement write to where your credit report came from and they will remove it.
No, it is not legal. As a basic rule, 7 years is the statute of limitations (from the date last of last activity, unless the tradeline is a collection or P&L or repossession, in which case it is 7 years from the date of original delinquincy). Hope this helps!