findyourboss

I have a question regarding default of accounts.
I know companies charge off bad debts then will offer the accounts to collection agencies for minimum % of account.
My question is this:
Regarding the new purchaser of the bad debts, how do the credit reporting agencies deal with these sold accounts when reporting?
Will the bad debts be removed after the usual 7 year time span has expired? Or do the old debts now being reported by new owners remain on credit reports?

In fairness, then, the old debt would remain much longer than 7 years in reality on a person's credit report virtually destroying any chance of future credit establishment.