If your account is sold to another collector does it stay on your credit report another 7 years?

In a Word: No, the account will not stay on for another 7 years. All negative information regarding the account must be removed 7 years from the date of the ORIGIONAL delinquincy. For example, if you were late on a credit card in January, 2002, and was delequint every month after to the point that it was turned over to collections, ALL derrogatory information must be deleted seven years after January, 2002.

On occassion, companies will sell an account for the sake of keeping it active on a consumer's credit report beyond the 7 year statute of limitations. Be aware that this practice IS illegal, and you may successfully dispute such items off your credit report.

The seven years is from the original date. It cannot be reported again, even if another collection agency buys that debt. (But I guess they get away with it if we don't monitor our credit reports!)