Thanks for the info. Puts my mind at ease. I could have maid a payment in Feb 2009. That was a long time ago. 2 months longer to wait is no big deal.

I'd like to address the limitation period for reporting negative credit information, and then the limitation period for filing legal actions.

1) Aktiv Kapital has not made any bogus payments on the account. I said there was likely NO error. The credit report you are referring to is your Equifax report. You also need to check your TransUnion report.

If you look further, you will see a 6 digit identifier attached to the Collection Agency Reference Number: XXXXXXX. That number uniquely identifies each debt which will also be included in the trade (lines) section of the credit report. When the date of last activity passes the 6 year mark, the debt will automatically purge from both sections.

The date of last activity has several meanings with Equifax, but only one with TransUnion. However, for a defaulted account that goes to collections, the date of last activity has the same meaning with both bureaus, It refers to the date the last payment was made before the account was ORIGINALLY defaulted on. That date NEVER changes whether you pay some, none, or all of the account off afterward.

In some cases like this one, the debt will be sold by the original creditor to a debt buyer after it goes into default. Here, the last payment made before the original date of default was in December, 2008. The debt was then sold to Aktiv Kapital, 2 years later, in December, 2010. The 6 digit identifier - which is the same for both credit bureaus - ensures that the negative reporting period will not be extended by 2 years. Thus the entries in both sections which refer to this one debt should automatically purge from both credit reports by December, 2014.

Another Point: While you claim that the last payment made to the original creditor was in December, 2008, TD is reporting it as 2 months later in February, 2009. Do you have any old account statements or documentation to confirm the date? Otherwise, you might have to wait until February, 2015

2) Credit reporting periods for negative items have nothing to do with the statutory period for filing legal actions. The limitation period stays at 6 years, no matter how many times the debt changes hands. Anyone taking you to court would have to prove through copies of old account statements, the last payment occurred in Feb., 2009, and not Dec., 2008.

Thanks for your response. Not sure I follow you. Do you mean to say there likely IS an error?

Am I correct in assuming that a debt will be stat barred in 6 years as long as no acknowledgement or payment of the given debt has been made? Or when the debt is sold is there some way the clock starts over?

Thanks

There likely is no error. That's not the way the dating system in the Public Records & Other Information section of credit reports works. Stephen Hoddinott, the forum adviser, will explain it further.

I have an alleged credit card debt that I am waiting to be stat barred. Just over a year left for that. But I am concerned over something I read on my credit report under the heading:

PUBLIC RECORDS AND OTHER INFORMATION.

It reads:

"A collection was reported in 12/10 by AKTIV KAPITAL in the amount of $5055. Balance outstanding: $7456. Reference: TDCT VISA GREEN. Date of last payment: 02/09"

I believe AKTIV bought the debt from TD. I have not made a payment on this aledged debt since December 2008. I am concerned that they made a payment for me as a means of starting the stat bar clock over.

Any thoughts on this?

Thanks