Re-Aging is a credit term that can mean two drastically different things.
The bad thing:
When a collection agency or other bad-credit-reporter nefariously changes the “purge-from date” so that a blackmark stays on your report longer than it should, it’s called a “re-aging.” And while it’s illegal and a violation of the Fair Credit Reporting Act, as the consumer, you have to stay on top of your credit report in order to realize that it happened and report it.
This is just one of the many reasons that you should take advantage of your ability to see a current copy of your credit report — for free — once a year.
MyFico says: Illegal “reaging” of a charged-off debt occurs when a tradeline on your credit report is reporting a newer than your actual “FCRA Compliance Date”. (Read more)
The better thing:
Legal re-aging happens when you strike a deal with a creditor prior to a charge-off. Say you’ve missed making payments on your credit card for 3 months. If you plead your case well and your bank agrees to “re-age” the account, you won’t get penalized for the lost time or be considered “overdue.” It’s like starting the clock over.
