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Car repo in 1999 agreed to pay 70 percent of the amount owed creditor wants to list on credit as paid repo what should you insist they list it as?
Wiki User
∙ 14y ago
Paid repossession would be the best option. This, even though it is a negative mark, is less so due to the satisfaction of the debt. Count yourself fortunate, as the lender could list it as paid-settlement, which would be less positive.
Wiki User
∙ 14y ago
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The maximum amount of credit you are allowed by a creditor is called?
line of credit
The maximum amount of credit you are allowed by a creditor is called an?
line of credit
Why a creditor will be reviewing your credit history?
amount of debt
What does HC mean on a credit report?
HC on a credit report means High Credit. This is the highest amount of money a creditor has issued to you in the past.
Can a creditor report you to the credit bureau for 150?
Yes, they can report you for any amount they are owed.
If you made late payments due to medical reasons can that be removed from your credit score?
Fair Credit Reporting Act requires that the creditor report your payment status accurately. That means that if you agreed to pay a certain amount on a certain day, then your account is "paid as agreed". If you miss a payment for any reason other than bank error, the account has not been paid as agreed no matter what the reason for the late payment. If you have medical issues that prevent timely payment, the best arrangement would be to make arrangements with the creditor prior to the conditions of the agreement not being met.
A sub-ledger that will get effected when the firm makes a credit purchase and the creditor bills that amount on the firm?
bills payable
Can a credit card company charge off an account when they are receiving monthly payments?
Yes, if the monthly payment is not the minimum amount agreed upon, a breach of contract has occurred on the part of the account holder and the creditor may take whatever action they decide is warranted.
Who is a creditor?
The creditor is the person who provided services, goods, or credit.
Can you be sued if you pay something on a defaulted credit card?
Yes. If the account is not paid as agreed in the original contract the creditor can sue the debtor, but they ususally try to avoid legal action.
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
If creditor refuses a minimal monthly payment on credit card is debt still owed?
Yes it is. They just don't like the amount you have chosen.
