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Can a collection agency keep changing the date last updated to keep a delinquent account on your credit report?
Wiki User
∙ 18y ago
Legally they are not allowed alter the dates but there is very little regulation on this. It is very important that you keep the creditors in line and make sure that they are reporting the information properly.
Wiki User
∙ 18y ago
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Is it true a collection of less than fifty dollars will effect your credit score dramatically even if this was the only collection?
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.
Account has been updated or accounts has been updated?
It'e been updated
Can a collection agency report a collection and then not update it?
In Part: No it has to be updated if the balance is revolving and going up or down monthly.
In 1913 who updated the periodic table by changing how the elements are arranged?
The person who updated it was Henry Mosley.
Is there a company who will keep my Instagram account updated and managed?
Yes there is.
What called a collection of records on a particular topic is stored?
A collection of records on a particular topic that is stored is called a database. A database is an organized collection of data that can be easily accessed, managed, and updated.
browser problems when going to my bank account it says update browser and is alreadt updated?
browser not workim ng properly and it is already updated
A bank I used to do business with just updated an old account for no apparent reason which has lowered my credit score what can I do about this?
Was the account closed?
How often is the US currency exchange rate updated?
The US currency exchange rate is updated daily. This is important because markets around the world are always changing.
If you are buying a home paying off collections will only hurt you instead of helping you?
The answer to this type of question depends on SO many factors. Paying off collection accounts will not necessarily raise your credit score, which is what most consumers believe. The variable is the date the accounts were last reported (or updated) on your credit report. The date last reported, or "status" date is the date that causes collections and charge offs to impact your credit score. Anything, including legal items, late payments and collections/charge offs, updated within the last 12 month time frame, falls into the "history" category. This category accounts for 35% of your credit score. So, if you have old collection accounts which have not been updated recently; paying them off will cause them to be a paid collection as of, well, NOW. If, on the other hand, your collection accounts ARE being updated to within the last 12 months (regardless of the last time you used the account), then paying them off will probably not cause deductions to your score and MAY raise it. Certainly, 12 months from now, any collection account that is paid is better than an unpaid collection. The best scenario is to offer creditors a pay-for-delete. THAT would benefit both you and those whom you owe.
How can you remove a medical collection that is no longer listed with the collection agency but has been returned to the original creditor?
I assume this means removing it from the CR. In which case you can't. It may eventually be updated to show the original creditor has reassumed the account. However, it is still a debt owed and still reportable. If a collection account has "been returned" to the original creditor, then the collection agency would not be able to provide verfification of the debt should this be requested. You could write a letter of dispute to both the credit bureaus and to the collection agency requesting a verification of debt. If this were provided despite the fact that the account is no longer theirs to verify, that would constitute a violation of law. This is often the first step many consumers take in gathering evidence of willful non-compliance for lawsuits against collection agencies. So, even though it may happen, it would put the CA in a precarious situation.
Is your Facebook account current?
Yes, my Facebook account is current. I perfer to keep mine updated with the latest security information that way no one will comprimise my account information.
