Has re-aging occurred when a collection agency updates credit reports. Probably not. Collection agencies can update the date of last activity, date reported, and open date but the date the account must be removed from credit reports should not change.
When debt goes uncollected, a debt collector may acquire the debt through transfer or purchase from the original creditor. For the most part the debt collector can employ all of the collection methods available to the original creditor but within the confines of the Fair Debt Collection Practices Act.
Once a collection account lands on your credit reports it can stay for up to 7 years from the date of the original account’s default regardless payment. Paying a collection account does improve credit scores but only under FICO 9 scoring system.
You can request a debt collector verify the amount and validity of the debt they claim is owed by you. Validation is helpful when debt is repeatedly sold.
When you’re struggling with debt, you may want to zone out…Don’t do it! Unpaid debt just doesn’t disappear. Not dealing with debt can turn into a charge-off and collection account which can be a double whammy on your credit reports.
Thinking about paying a collection account? Your credit scores may not improve unless you get the collection account deleted with a pay for delete agreement.
Handle Collection Accounts: There are several ways to deal with collection accounts including getting them deleted from your credit reports. Collection accounts are credit score killers, there’s no doubt you just want them to go away.
Collection agencies are not original creditors and should not be reporting monthly late payments on your credit report, you have no legal account with a debt collector that requires monthly reporting of late payments.