Why Some collection Accounts Do n’t Show on Your Credit Report
just because a debt is n’t on your credit composition does n’t mean it ‘s not legitimate. A debt may not show up on your credit report for any of these reasons.
The Credit Reporting Time Limit Has Passed
Most debts can be listed on your credit report for seven years. After that, credit rating bureaus remove these honest-to-god debts from your credit report. In some cases, collectors can still attempt to collect old debts that have dropped off your credit report .
The Statute of Limitations Has Passed
Don ’ thyroxine confuse the credit coverage time limit with the codified of limitations on debt, which is the period of time that a debt is legally enforceable. The two aren ’ metric ton related, except with court judgments in states where the codified of limitations for a judgment is longer than the citation coverage time limit .
The Debt Collector Hasn ’ thyroxine Reported the Debt Yet
It ’ s possible that the debt collector intends to list the report on your credit report, but is possibly giving you a chance to pay the debt beginning. Some accounts go to “ pre-collections ” when they ’ re only one or two months past due. During this period, you may get calls or letters about the debt even though it ’ s not on your credit composition so far .
The Debt Is on Another Credit Report
You have credit reports with three major credit chest of drawers —Equifax, Experian, and TransUnion. If you ’ ve alone checked for the debt on one of your credit rating reports, it ’ s potential that the debt appears on another .
The Debt Collector Doesn ’ t Report to Credit Bureaus
Another possibility is that the debt collector doesn ’ t pledge to any of the credit agency services. Debt collectors are required to report debts accurately when they decide to report to recognition agency, but credit report is voluntary .
The Debt Does n’t Belong to You
Some “ debt collectors ” run a scam convincing consumers to pay for debts that don ’ thyroxine belong to them or that preceptor ’ metric ton exist. The scammers are hoping you ’ ll pay up without truly questioning the authenticity of the debt .
How to Get Proof of a Debt collection
Before paying any solicitation, you should make surely the debt is yours. The Fair Debt Collection Practices Act allows you to request establishment of a collection account within the first gear 30 days of the debt collector ‘s initial contact .
Read more: A step-by-step guide to identity theft
After receiving your request, the debt collector has to send you proof of the debt. The collector besides can not continue collection efforts on the debt, including reporting the account to a credit agency, until it has sent you proof of the debt .
If the collector sends you satisfactory proof that the debt actually does belong to you, you can decide whether you want to pay. For debts that appear on just one recognition report, you may offer payment in exchange for removing the debt from that credit report. If the history is in pre-collections, paying the debt will keep it from appearing on your credit report card .
Paying a debt that ’ south beyond the credit-reporting time limit doesn ’ t benefit your credit rate, but it does get the debt collectors off your back.
What Happens If You Do n’t Pay
If you choose not to pay the debt, be aware that the collector can continue to pursue you for the debt indefinitely—that means calling, sending letters, or suing you for a debt that is still within the legislative act of limitations—even if it ’ s not on your credit report .
You can stop debt collector calls by sending a written end and abstain letter asking them to stop calling you. The discontinue and abstain letter only applies to a individual collection agency. Any new collection means that takes over the account can resume calls until you besides send that means a request to stop calling .
frequently Asked Questions ( FAQs )
How long can a debt collector legally pursue old debt?
The codified of limitations on debts—the time limit for debt collectors to pursue debts—varies by country and type of debt. Some states besides reset the clock when you acknowledge or make payments on a debt. If you hear from a collector, be sure you understand the laws in your country before you respond .
How do you tell if a debt collector is legit?
Some debt collectors are actually scammers. If you do n’t recognize the debt the agency is trying to collect, the foremost thing to do is make sure it ‘s a legit debt solicitation agency. other crimson flags include not giving you any call number or address information, arsenic well as applying any sort of coerce tactics or threats.
How do you report a debt collector?
You can report fake debt collectors to the Federal Trade Commission. Simply visit the agency ‘s web site, fill out a imposter report, and then follow the instructions for your adjacent steps .