Sunday, November 22nd, 2009

If i contact a credit bureau about an old debt, will it reset the statute of limitations on that debt?

Credit Bureau
JJ asked:


The above question is about contacting a credit bureau about old debt that’s showing on my credit reports. Also, will accessing my credit report or contacting the credit bureau about old debt alert my creditors as to my whereabouts?

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5 Responses to “If i contact a credit bureau about an old debt, will it reset the statute of limitations on that debt?”

sassy25 Says:
November 24th, 2009 at 7:58 am

Yes and Yes

john n Says:
November 25th, 2009 at 10:19 am

I believe that contacting a credit bureau will reset the statute of limitations for the collection of that debt. At the very least contacting the credit bureau will spark new interest in your file and they will probably re-open your file.
Standard procedure in the collections field would have the agent try to get information about your whereabouts from you.

Judy Says:
November 28th, 2009 at 10:20 am

Do not contact the collection agency.
This will reset the statute of limitations if you admit its yours.
Do not contact your credit bureaus unless what you are trying to do is hand them your new address in a silver platter.

If you ever get any phone calls, never admit the bill is yours, or that you live there.
Learn how to answer the phone so when they has is “so and so there”, you say “who is calling please”.
If a company asks for you, you have every right to ask what company is calling, and then say you have reached the wrong number.

After the full 7 years (or less in some states), the item will be removed from your credit report.
Google Statute of Limitations and your state name.
Remember: If you have difficulty finding a job, it’s because employers check reports, so if the debt is small - pay it.
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CatDad Says:
November 30th, 2009 at 4:19 am

There is only one 7 year period for reporting bad debts…this never can be reset.

Ted Says:
December 1st, 2009 at 6:56 am

The statute of limitations is a limit on the time to file a lawsuit measured from the payment period that the account went into default. Contacting the credit bureau won’t change this.

If you contact the lender and acknowledge the debt it can reset the credit bureau seven year reporting period.

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