0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is a bad debt erased after 7 years?
No it is NOT! You have to get your credit report to see when the creditor last updated their report to the credit reporting agency. If the creditor chooses to report this bad debt every month than your bad debt will only be erased from the last update. For example: You have a bad debt from a Sears credit card from Jan of 2010. Each month Sears has reported your bad debt to Trans Union or one of the other agencies. The new date is from the last time they updated your credit report NOT from Jan of 2010. They can update it every month for the next 20 years and it will stay as a bad debt and ruin your credit report score. Legal to do it too.
Your credit report says bad debt write off but you have been paying them every month for 2 years can they still report as delinquent 120 days?
I've seen this done before. It's the credit report agency who determines it counts as being delinquent; not the actual creditor. It will be fine once you are done with the payment program but it'll hurt for now.
How can you change a scheduled report and run date from the fifteenth of the month to the thirtieth of the month?
You would have to contact the company concerned. Only THEY can change the date of any reports on your account.
How can you change a scheduled report's run date from the 15th of the month to the 30th of the month?
how can you change a scheduled report's run date from the 15th of the month to the 30th of the month
How long does it take to reflect on your credit report when you pay off an account?
Probably next month, when your next payment would have been due. -Jesse
Can you sue a creditor for not updateing my credit report after a payment was received?
Creditors update credit reports on their schedule, some update every month, others update every other or every third month. If you are in a hurry, contact the credit bureaus and have them contact the creditor themselves. You can sue a creditor, but you have to try contacting the creditor first (via mail), then file a complaint with the FTC, then contact the credit bureaus. If the account still hasn't been updated, you can go ahead and sue the creditor.
How often do creditors report to the credit bureaus?
Creditors may report any time there is activity on your account, if a credit report is pulled [for a credit application] or if payments are made late. Capital One may report every month whereas a smaller department store card may not report at all. It solely depends on the creditor on how often the credit report is updated.
Is a bad debt erased after 7 years?
No it is NOT! You have to get your credit report to see when the creditor last updated their report to the credit reporting agency. If the creditor chooses to report this bad debt every month than your bad debt will only be erased from the last update. For example: You have a bad debt from a Sears credit card from Jan of 2010. Each month Sears has reported your bad debt to Trans Union or one of the other agencies. The new date is from the last time they updated your credit report NOT from Jan of 2010. They can update it every month for the next 20 years and it will stay as a bad debt and ruin your credit report score. Legal to do it too.
How often is your credit report updated?
Supposedly every month
What is sent to you by the bank every month?
An account statement.
Do you have to pay an amazon account every month?
If you have an Amazon store card or credit card, you have to make payments every month.
Are mortgage companies required to report payments every month?
YES THEY ARE.
When will creditor report on credit report?
Creditors usually send a batch of updates (from all their customers) to the bureaus once a month. The actual date varies by lender so it is best to ask your vendor directly.
Your credit report says bad debt write off but you have been paying them every month for 2 years can they still report as delinquent 120 days?
I've seen this done before. It's the credit report agency who determines it counts as being delinquent; not the actual creditor. It will be fine once you are done with the payment program but it'll hurt for now.
Can an account be sent to collections if you are making monthly payments?
Yes, an account can still be sent to collections even if you are making monthly payments. If the payments are not meeting the agreed terms or if the creditor believes the account is at risk of defaulting, they may send it to collections to recover the debt. It's important to communicate with your creditor and try to negotiate a manageable payment plan to avoid the account being sent to collections.
Sold world of Warcraft account a month ago can you report stolen and get it back?
Selling your World of Warcraft account is against the Terms of Service in the first place. So while you could report it stolen, you would just be telling on yourself and have the account taken right from you.
How often does Capital One report to the credit bureaus?
Normally, banks such as capital one report to credit bureaus every thirty days or every month. Also, when they make their report, all information should be complete and correct.
