Fair Credit Reporting: Section 605(c)
Section 605(c) provides that the seven-year period for reporting accounts placed for collection, charged to profit or loss, or similar action by a creditor, “shall begin, with respect to any delinquent account that is placed for collection (internally or by referral to a third party, whichever is earlier), charged to profit and loss, or subjected to any similar action, upon the expiration of the 180-day period beginning on the date of the commencement of the delinquency which immediately preceded the collection activity, charge to profit and loss, or similar action.”