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No, they cannot.

According to the Fair Credit Reporting Act all debts after 7 years are not allowed to be reported to the credit reporting agencies, and furthermore, they are to be removed from the credit agencies listings.

The misconception is that this is 7 years from when this most current reporting is done. This is untrue, and illegal in all cases.

The 7 years starts from the date of deliquency of the originating account. If you stopped paying your bill today the first delinquency would be the next bill cycle, say end of January 2008.

This is the set in stone mark for 7 years. 7 years from THAT TIME is the end of the line for reporting that debt.

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Q: Can a creditor reapply a charge off after 7 years?
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When is a charge off removed?

A charge off will stay on your credit report for 7 years unless removed by the original creditor or the credit bureaus. You can dispute a charge off with the credit bureaus and they must verify it with the original creditor with in 30 days or it must be removed from your credit report.


Can a creditor remove a charge off?

Yes, a creditor can remove a charge off from your account and your credit reports. Credit bureaus can also delete charge offs from your credit report if they are disputed and not verified.


Can a creditor in Arizona report you as a charge off when you are still making payments on the vehicle?

Only if they actually took the charge off.


Can you dispute a charge off account?

No. Once an account has been in default for 180 days, the creditor by law must list it as a charge off.


What is the difference between pre-charge off and post-charge off accounts?

A pre-charge off is when the creditor is giving the debtor notice that the account is in default and will be sent to collections if a payment agreement is not made by a specified date. Post-charge off is when the account has been sent to collections, sold to a third party creditor or referred to a legal firm for further action.


What are charge offs?

Charge offs are accounts that have been written off by the creditor as uncollectable. The debt owed is still valid and can be collected on either by the original creditor or by a collection agency. You can only erase charge offs by disputing them to the credit bureaus or negotiating the removal by the original creditor.


What does a charge off mean on my repo'd car?

Your creditor added a negative entry (a charge-off) to your credit report and will continue to attempt to collect on the debt.


What are the consumer tax implications from charge off?

The charge off is the declaration by a creditor that an amount of debt is unlikely to be collected. The implication that it increases the consumer tax.


Can a secondary collection agency collect on a charge-off when the debt is over 3 years old and the original creditor has declared bankruptcy?

More than likely. Three years is not long enough for an SOL to expire. What probably happened was, the account was bought from the creditor, which is common practice. The BK of the original creditor, has no relevancy if the debt was sold.


How many years does it take for a debt to be written off?

There is no set time for a creditor/lender to cancell a debt. Charge offs are generally done 180 days after the account becomes delinquent. A Charge off does not mean the debt is not still owed and collectible.


Can a lawyer garnish your wages after the creditor has written it off as a charge off?

Absolutely, but he must obtain a judgment first.


Is it true that after 3 years card companies and medical offices will write off any balance you owe if it is not 3 years then what is it?

After a specified period of time, which is different for each creditor. The creditor may perform what is known as a "charge off." The reason being, the creditor can then use that account for the purpose of their tax loss write off. The account will probably be sold to a third party collector who will initiate collection proceedings. Including phone and mail contact and legal remedies.