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If an account is reported as delinquent does it matter what the amount is?
Yes, all the factors that are used to determine your credit score are important.
When any credit account is delinquent, the amount of the delinquency is not AS significant as the fact that it was not paid as agreed, but it is a factor.
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%DETAILS% Answer No. A creditor can report a paid derogatory account as delinquent PRIOR to being paid. But if you paid it off, the correct status is "paid" (…collection or charge off).
If a delinquent account was never reported and it suddenly appears on your credit report 5 or 6 years later are you still responsible for that debt?
A consumer's responsibility for a debt is a separate issue than credit reporting. If you owed a debt 5 or 6 years ago, and never paid it, you still owe it. There is a statute… of limitations for how long a debt can be collected, another for how long a consumer can be sued over a debt and another for how long a debt can show on your credit report.
Answer Any creditor you owe money to can report your delinquent accounts. Generally utility companies and cell phone providers will only report if you hav…e an unpaid balance. Credit cards, mortgages and installment loans are 99.99% of the time reported.
Answer . Means that you did not pay your bills on time, or that you've never paid some of them. Make sure you get that straightened out, then don't be late again! That in…formation stays on your credit report for up to seven years!!!
Can a creditor report an account current for years and then change the records to show a delinquency?
Answer Yes, if the delinquecy did happen and they were correcting their error.
Answer Once an account is settled, as with a charge off, the creditor must refelct that the account is settled. Failure to do so is a violation of t…he Fair Credit Reporting Act, a federal law. Dispute the bad reporting first with the credit bureau (Equifax, TransUnion or Experian). If they fail to change it within 30 days, file a formal complaint with the Federal Trade Commission (FTC) who is their regulatory agency. * Yes. A charge off does not indicate a debt is settled or not fully collectible. A charge off simply indicates that the original creditor is clearing the account of the books and referring it to a collection agency.
reporting credit delinquencies I am a landlord. My tenant is seriously in default of her lease and is in arrears in excess of $5,500. and refuses to pay. How can I report he…r to the credit agencies? ----------------- You will need to take her to court (small claims court) and get a judgment against her. The judgment is a legal action against her and will show up on her credit report.
Answer Typically they are removed 7.5 years from the date of last activity. There are some exceptions, but are handled on a case by case basis.
See this article: http://www.allbusiness.com/business-finance/cash-management-collections/1361-1.html
A timeshare is a similar contract to a house and requires regular payments. This can be reported as a foreclosure if you have abandoned payments and the company is taking …back their property.
A delinquent account is any account that has a past due balance. Itwill remain in delinquent status until the account has a zerobalance.
The "excessive amount owed" is a phrase used to indicate that a particular account is over 30% utilized. Utilization is the balance of the account divided by the credit line.… SO, if you have a $2,000 balance and your credit line is $3,000, your utilization is 67%, which would trigger an "excessive amount owed" in a credit score explanation.
If you want to find out which cardholders are about to have their accounts suspended due to delinquency you would generate a report?
My credit report shows a delinquent account from 2005 a collection agency is listing it now reported as of 6 2009 is that legal?
No it is called re-aging which is federal violation, collection agencies do this to refresh the SOL so they have legal recourse to sue you for the debt.
bill delinquencies daily but you normally have months to pay before it shows up on credit reports
Technically it is a paid, and no longer delinquent account. But it is still considered as a negative account by the FICO scoring model. The bureaus want to show your entire pa…yment history to any lender subscriber to their service. This will still be reported as a negative account for up to seven years.