yes
"Reminiscences" refer to a collection or account of memories about past events or experiences. It involves recalling or reflecting on memories from the past.
They are two different issues. A derogatory (negative) trade line is a record of a consumer's past and current buying and payment activities. A collection account is generally an account that has been defaulted on. It some cases it refers to the original creditor or the OC collection representative. Or it can be in referance to a third party that has purchased the account.
The past tense of charge is charged.
yes and no. You can get a free account but you only get to play in the future. you can also get a payed account where you get to play in both the future and the past.
Original creditors sale their accounts to collection agencies when the account has been past due and they have not effectively collected. At that time, the original creditor will charge off the balance from their accounts receivable and turn the account over to a collection agency. When the collection agency collects the debt, a portion of the amount received is paid the the collection agency and the remainder is returned to the original creditor as profit.
It can be (e.g. charged particles, charged purchases). It can also be a verb.For any meaning of the verb to charge, charged is the past tense and past participle.
They can't freeze the account initially. First, they must try to collect the debt from you. Then, they can sue you if you do not pay. If they win a judgment against you, they can freeze the bank account. Sometimes collection agencies sue people for debt that is not their or that is past the statute of limitations. Learn your rights by reading up on the FDCPA.
The word 'charged' is the past participle, past tense of the verb to charge (charges, charging, charged). The past participle of the verb is also an adjective, used to describe a noun (a charged battery, a chargedquestion).
It all depends on the amount owed and the company owed to.
No, the word 'charged' is the past participle, past tense of the verb to charge. The past participle of the verb also functions as an adjective (a charged battery, charged purchases).The noun forms of the verb to charge are charge, charger, and the gerund, charging.
The amount of a collection account is not what impacts a consumer's credit score. The impact comes from when the account is updated/last reported on the bureaus. The reason is that 35% of the score is factored from "History", meaning what has taken place in the past. (In the simplest terms, your credit report is a history of how you have managed debts in the past.) There is specific emphasis on items dated in the last 12 months. So, any derogatory item (even an old collection account) that is updated to within the past year will have a huge affect on your score. It also does not matter whether a collection account is paid. A paid or settled derogatory item is still a derogatory and will cause deductions to your score for the 7 years it is allowed by law to appear on your credit. If the account does not get updated, its' impact will lessen as it ages. If, on the other hand, the collection agency keeps it updated, it can impact your credit score for a full 7 years.
Typically no, once your account gets to the point of charged off, it has been overdrawn for roughly 45 days (give or take). Your name and SSN then get reported to ChexSystems which then notifies every bank of your charged off account. Not many banks want to risk losing their money to you if you've already lost money for another bank. Your best chance to get an account is to go back to the bank your account was charged off, explain what happened, and hope for the best. And next time balance your checkbook... daily.