Bank or Debt Collector?

I had no idea about anything to do with credit reports, credit scores and the like until my husband and I decided that we wanted to buy a home.  After reading this site for two hours today (and I am not done yet) I have discovered that I know less than nothing but I have a question that needs an answer.

My husband had a debt with First Bank of Marin for a credit card.  The debt was removed last year as the 7 years was up.  My husband went to get a consolidation loan from our credit union as the mortgage company rep told us that we needed to brush up his credit some and pay some of the old debts and do some disputes and so on.

When the credit union pulled his credit report there was a debt on there from Credit One Bank that had been a debt to First Bank of Marin.  They are claiming that the debt originated 2/2008 with the last report as of 4/2008.  The problem is that this debt just showed up there after the mortgage rep pulled our combined reports and sent them.  However, if this is the Bank of Marin debt as claimed then how can they do this since it’s past time?  What should we do about this and what steps can we take?

There are other questions that I have but I am going to read this informative site some more and see if I can get answers that way first!  Thank you for putting this up to help!  I know less than nothing and am quickly learning!

Holly

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Hi Holly,

If it is the same account and it’s past the seven year mark, then any debt collector or junk debt buyer is barred from reporting the account.  What does Kim Jong-il say?

Thanks for the questions and I sent you an email.

Paul