“Dear Steve,
In 2005 I stopped a gym membership after one year. I did not realize it was a two year contract. My daughter had passed away and I was not going to the gym or anywhere else. The collection agency adds a couple dollars to the debt each month and re-posts to my credit history.
Will this debt stop reporting after seven years from the original post date or is this date started each time they post a new amount. I have not made any payments. Will this debt ever end?
Sherri”
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Dear Sherri,
I’m so sorry to hear about the loss of your daughter.
I think we can turn this situation around. The debt should not be reported for more than 7.5 years from the date it was first reported delinquent by the original creditor.
It might be prudent to get a copy of your consolidated credit report and see how all three credit bureaus are reporting this to make sure the collection company isn’t trying to realist it as a different account.
Have you considered settling this debt with the collection agency and just ending it for good?
Please post your responses and follow-up messages to me on this in the comments section below.
