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bbloom · Sep 18, 2014, 05:54 PM

My husband had Lowe's card in which I was 2ndary on. He was badly hurt in an auto accident (not his fault) in March 2008. We paid on everything until Jan 2009. Prior to that we had tried to work with several credit cards and our car loans but without success. The card has been sold off several times. They went to take it to collections with local magistrate in Dec 2012 and lost. They only did it against my husband. It is showing up on both our credit reports and now is out of statute for them to be able to collect upon. They sold it again, then to Calvery and it appears on my credit report with an open date of 2/20/13. Is this legal? I understand items can still appear for 7 years from when stopped paying so that would not be until Dec 2015 but the information is incorrect.

bbloom · Sep 18, 2014, 06:02 PM

We relinquished our vehicle in Feb 2009 (in Pennsylvania), due to being unable to pay for it due to accident a year earlier; resulting in one income for family. It was processed and put against us in local court on our home. It has expired and was not reviewed as required by the lean holder this past March 2014.
We spoke to attorney we had started with in 2010 as we thought we may have to go bankrupt. He informed us there wasn't anything we had to do since they didn't refile. It is continuing to show on credit report due to public record? Will be on report for 7 years right? Are there other things we should do?

ScottGem · Sep 19, 2014, 05:02 AM

How is it listed on the credit reports? As a judgment, outstanding balance or just a repo?

ScottGem · Sep 19, 2014, 05:07 AM

Originally Posted by bbloom

It is showing up on both our credit reports and now is out of statute for them to be able to collect upon.

First, I wanted to correct this misconception. A debt never expires. The owner of that debt can continue to dun you and attempt collections until the debt is marked paid. If the SOL has expired, it only means they cannot sue and obtain a judgment for collection.

However, if the open date is incorrect, then you contact the credit bureau and dispute the entry. Provide evidence that they are showing the incorrect date.

Fr_Chuck · Sep 19, 2014, 08:57 AM

The open date, needs correction, a letter to both the collection agency, and the credit bureau needs to be done.