The time period when a negative account should be removed from reports is 7 years and cannot be restarted by a creditor or collection agency. If the time period is restarted then re-aging has taken place, which is illegal.
Negative credit due to identity theft can be removed with the help of the Federal Trade Commission
Charge-Off Notification: Do creditors have an obligation to notify you directly when they close an account for late payments or charge-off an account?
Don’t be surprised if a credit bureau re-inserts an item that was deleted due to a dispute. They must however, notify in writing if the disputed item has been put back on your reports.
Banks pull credit reports to open accounts to look at financial history, verify your identity and check to see what financial products to offer.
Creditors can choose when to report a charge-off but the remove date of charge offs does not change. It is 7.5 years from the date of last payment.
You have the right to stop the debt collector threats and stop debt collectors from calling and writing you. But that does not eliminate the debt.
Goodwill letters still work even if the creditor says it is against the law to delete a negative item. It is not against the law just keep pursuing.
Timeshares are often purchased under pressure but if you do not cancel in time, timeshares can end up on credit reports as charge-off, foreclosure or both.
When a debt collector asks you to provide proof you owe a debt, don’t. It defeats the purpose of the debt validation process.