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Can pay pal report negative account balances to the credit bureaus?
Wiki User
∙ 15y ago
No. PayPal has no agreement with the end-user (you) for reporting to credit bureaus. After 1 1/2 years, PayPal writes off the amount owed for credit on federal taxes. This amount brings them a 70% return on their taxes hence saving them on collections. It all pretty much boils down to after 1 1/2 years - 2 years max, the collections process will discontinue and the amount will be written off. PayPal uses no third- party collection resources or reporting resources to credit bureaus. This is all from the PayPal Terms of Service.
Wiki User
∙ 15y ago
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Is every financial transaction reported to all the credit bureaus?
No, just the delinquency history and balances
When an account is deleted from a credit bureau do the other credit bureaus automatically delete it too?
only if you and your lender report it to the other bureaus
Can a foreclosure be removed from your credit report?
Foreclosures can be removed from your credit report like any other negative item. You must dispute it to the credit bureaus. The credit bureaus will have 30 days to verify the foreclosure or it must be removed from your credit report. With the higher amount of foreclosures lately you have a better chance of it being removed. UPDATE: Actually, you can force Equifax, Experian and TransUnion to remove a Foreclosure from your credit report and you can do it legally using a federal law that is in place. Credit Bureaus MUST have "verifiable proof" of the "foreclosure account" in their files if they are going to report the negative item on your report. The dirty little secret the credit bureaus don't want you to know is that they do not have any "verifiable proof" in their files for any of the negative items on your credit report. The bank that held your mortgage may have this information on file but the credit bureaus don't. If you request the credit bureau to provide you with the "verifiable proof" that they have in their files they will remove the negative from your file.
Which accounts normally have credit balances?
All liabilities as well as sales account has credit balance as normal accounting balances.
How does a business report to the credit bureaus?
Three of the major business credit-reporting bureaus are Experian, Equifax and Dun & Bradstreet. The business must first establish an account with one of the bureaus and transfer information to that service. This process can help businesses establish credit.
How can my business report to the credit bureaus?
Three of the major business credit-reporting bureaus are Experian, Equifax and Dun & Bradstreet. The business must first establish an account with one of the bureaus and transfer information to that service. This process can help businesses establish credit.
How many credit bureaus are there?
There are 3 credit bureaus
Do revenues have a credit or debit balances?
Revenue is an Owners Equity account therefore has a Credit Balance:
Can you place a outstanding bill on someones credit report?
Yes, if you are the original creditor and you have an account with any of the three credit bureaus.
What is credit restoration?
Credit restoration is a process where you, a company or attorneys request that the bureaus (Experian, Equifax and TransUnion) validate that each account on your report is yours and is reporting accurately. According to law if the bureaus cannot provide this information the account must be deleted from your reports. However getting this done can be a bit tough if you don't know the ins and outs of the credit restoration field.Credit restoration can be done by yourself or by a company. You involves disputing your negative listings to each of the credit bureaus and waiting up to 30-45 days for them to verify the listings with the original creditors.
Would getting a negative record in Chex Systems affect your credit history?
yes it can. Sometimes it is reported to the credit bureaus as well
Is account still considered delinquent on you credit report if it has been paid in full?
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 payment history to any lender subscriber to their service. This will still be reported as a negative account for up to seven years.
