Bad credit report?
Answers:
Even though it has been 7 years, most collection activity will have stopped, however, a unpaid debt will always be there. Best thing for you to do is have it paid off, by now most collection agencies should offer settlements, however if finances are able you should pay it off immediately.
If you owe money it will stay on your report. Your still liable for it and creidtors want to know what you still owe.
Collections show for 7-years from the date of first delinquency. If yours is over 7-years old it should not be showing on your credit bureau.
This is a trick used by some collection companies to re-age collection accounts. This is not legal.
When you are sure that the debt is over 7-years old., contact the credit bureaus and contest this collection activity.
Do not contact the collection companies.
I agree with Spifiman
The date the collection agency is showing is probably the date they bought or was assigned the account and not the actual obsolescence date. (which is normal)
But with that said, you need to be sure the account has not been illegally re-aged to run longer then the time allowed.
You should also check the collecting SOL for your state.
You can click on my profile and click on the link that will tell you the collecting SOL for your state.
You might also do some reading in the other links I have listed to learn what constitutes violations by both the collection agency and in how the account is reporting.
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