Legal Question in Credit and Debt Law in Texas

Reporting 10 year debt

I had a credit card with sears . The last payment i made on the debt was 10 years ago. Sear never secured a judgment but sold the debt. Now ten years later the collection agency that they sold the debt to has started to try and collect. In the past ten years i have restored my credit. Now the agency is trying to collect and are using the threat of reporting this debt to the national credit reporting agencys as a hammer. they say that each time an old debt is sold the 7 years that the debt can be reported is renewed. Is this true?


Asked on 5/21/05, 8:46 am

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Reporting 10 year debt

Not only is that incorrect, such a report is illegal.

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Answered on 5/21/05, 3:53 pm


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