Can a collection company renew a debt on your report.?
I contacted a credit repair company and asked this question because I was interested in their service. The account manager stated the reason the debt states it’s 2 years old even though it’s been over 8 since last payment was made, is because the collector can resell the debt. When they resell it to another company it renews the date of “last activity” on that specific acct. Then he said the only way to remove it for good is pay it or file bankruptcy. I asked about the seven years rule he stated all they have to do is sell the debt and it starts all over. Is this true because everything online I find contradicts this.