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No it is not good. Any negative entry on your credit reports is a bad thing and can affect your score.

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Q: I paid a collection account off in full and it is showing refinanced or renewed. Is this good?
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Wrtten acknoledgement showing the collection of money may be in the form of a?

Written acknowledgement for collection of money can be a receipt or a note with date and signature of recipient as well as amount of money and what it was for. As long as all the information of the transaction is there, this will be adequate.


Can you deposit someone else's check into their bank account?

Yes, most all banks allow anyone to deposit money into an account of anyone else. When doing this, the receipt they give you showing the deposit will not show the balance of the other persons account, as this is private information.


What does it mean when a collection company is reporting a charge-off?

Charge off is an accounting term. It has been paraphrased from "charged off to profit and loss" and applies to bad debts. At the end of the year, or at certain times of the year, companies will write unpaid debts off so they are not showing red ink on their books for tax and accounting purposes. If the consumer has not paid the debt, any deficiency balance is still owed in full. For the consumer's purposes charged off is the same as a collection account. It is significant derogatory item and has a large impact on credit scores.


Is depreciation an example of an asset?

Usually depreciation is set up as a contra account to equipment. So in Assets you have an Equipment Account and a Accumulated Depreciation-Equipment Account showing up on the Balance Sheet in the Financial Statements. Keeping the accounting equation in mind, A=L+OE, credits made in the Accumulated Depreciation-Equipment Account are debited in a Depreciation Expense account which affects the Owners Equity side of the equation. This affects the Income Statement.


Advantages and disadvantages of trading profit and loss account?

: Profit and loss account gives the actual information about net profit or net loss of the business for an accounting period, Profit and loss account gives the actual information about indirect expenses, Profit and loss account serves to show the ratio between net profit to sales, Profit and loss account helps in showing the ratio between net profit to operating expenses, Profit and loss account helps in controlling indirect expenses

Related questions

What is a public showing of a piece or collection of objects called?

This is called an "exhibit" or a showing.


Can a creditor and the collection agency who purchases your account from the creditor both report the same debt in separate instances to a CRA?

Yes, they can and it's customary for them to. The original account should have all the history, including late payments you made and the status (collection or charge off), the DLA, and date the account was opened. It should not be showing a balance due once sold or assigned to a collection agency. It may have a statement about being sold or transferred, but not always. The CA account should have the date they received, or were assigned, the account and the current balance (often with interest added in). The DLA should not have changed.


Is long valley caldera extinct?

No. It last erupted a few hundred years ago and has been showing signs of renewed activity since 1980.


How do you dispute items on your credit report?

1. Get a copy of your current credit report. (I have used www.freecreditreport.com which can provide all reports from all 3 credit agencies for around $40.) 2. Write up letters to each collection agency asking why each account was opened along with the account balance. 3. Get the letter certified, copied and send them to the collection agency. 4. (Read both of these steps) If the collection agency replies: you can "Ask For Forgiveness" from them and offer a different ammount than the full balance and barter, be sure that the letter of forgiveness stats that even though you did not pay the shown balance that they close the account and say it was paid in full. If after 30 days the collection agencies do not reply you can contact the collection reporting agencies in which the negative note was placed and provide them with the copied documents showing that 30 days has passed and the collection agency has not replied. The mark will be then be removed.


How do you make the data series?

A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.A data series is a collection of data, usually numbers, that you would use to create charts or use in calculations. You just enter it and in the context of a chart that is showing it, it is referred to as a series.


What are the copyright rules for private showing of Rogers and Hammerstein collection?

A license is only required for public showings.


What is a good cabinet for showing off a china collection?

The Metropolitan China Cabinet would be a nice cabinet.


How can you open a gmail account and send email to all addressees without showing all addressees?

I already have a gmail account. How do I send an e-mail to all my contacts at once without showing everyones' e-mail address?


How can you assessed success of a business by looking to final account?

by showing the financial condition of business


How will you know your balance at ATM?

The machine should provide you with a receipt showing the balance on your account.


When you pay off a collection account and it is removed from your credit report will it increase your credit score and if so how long does it take?

The removal of a collection account, whether paid or unpaid, would have a positive impact on your credit score. Removal is not automatic and is often difficult to accomplish. The length of time would depend on how the removal is processed by the creditor/collection agency and the credit bureaus. Standard automated update procedures can take up to 90 days. Creditor prompted manual updates can be performed in as little as 48 hours. Any change in your score would depend on ALL the information showing on your credit file.


Does an account need to be at least 30 days late before it hits your credit report?

It depends on what type of account you are asking about, whether or not this creditor reports to the credit bureaus and what their standard procedures are. Some creditors report monthly to the credit bureaus, showing the balance and status of your account on the day they update the bureaus via automated system. Other creditor only report when a consumer is at least 30 days past due, or only when an account goes into collection or gets charged off.