Once a debt has been purged by either credit bureau, it's like "water over the dam"....................gone forever, never to return again.

Even if a payment is made on a purged debt, it will NEVER reappear again on your credit report.

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Educating one Consumer at a time

so in 6 years it will come off a credit report, can it be put back on?

You are absolutely correct. Once the limitation period has expired, the creditor cannot sue the debtor.

When you incur a debt, whether it be a credit card, personal loan, auto loan, line of credit or a mortgage, the creditor reports that information to the credit bureau(s). When that debt is defaulted upon, the debt still continues to be reported on your credit report.

If that debt is either assigned to a collection agency to collect or sold to a debt buyer, the debt will now be reported to the credit bureau(s) as a collection account. In all cases, if the debt has been assigned or sold, it will appear on the credit report both as a "tradeline" AND as a "collection account". The "date of last activity" should be the same as shown on both the "tradeline" and the "collection account". Because this is a negative item, ( i.e. a defaulted debt ) both Equifax and Trans Union will purge this account 6 years from the "date of last activity" both as a "tradeline" and as a "collection account".

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Educating one Consumer at a time

confused on your answer, i understand that after the limitation period has passed you cannot be sued for the debt, but can the creditor keep posting the debt on your credit report or is there a time limit on that too?

Do not confuse the Limitation Period of a debt and the purge date of that same debt from a credit report.

A Limitation Period is established by law in each province and territory and provides the time period under which a creditor can initiate a legal proceeding ( i.e. sue you ).

Equifax purges all "tradelines" that contain both positive and negative information after 6 years from the "date of last activity". Trans Union purges all "tradeline" that contain negative information only after 6 years from the "date of last activity". All "tradelines" that contain positive information are retained for 20 years before being purged.

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Educating one Consumer at a time

once the limitation period has expired and a creditor can no longer sue you, how long can they keep the debt on your credit report?