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If you have a charged off credit card will it only stay on your credit report for 10 years?
All derogatory credit, including late payments as well as account written to profit and loss (which show on your credit file as either an R9 for Revolving Charge off or I9 - Installment Charge-off) can be removed after 7 years. Bankrutpcy Chapter 7 - stays on for 10 years. You must be proactive at the 7 year period to insure that it does get removed, as it does not always fall off by itself. You must obtain your credit report, then go through the standard dispute process. But the good news is, it is very easily accomplished as the 7 year period is mandated by regulation.
Does a bank account charge off go on your credit report?
Yes, any charge off goes on.
If you pay a charged off credit card how long does it take to go on your credit report?
Your charged off and now paid off card will show that you've had a charge off and that you've paid it off. It will also indicate if you paid an amount less than what the original debt was, if you came to that agreement with the creditor. The item should show on your credit report for 7 years from the last payment activity you made on it. So, if you paid it off today, February, 2008 it would stay there until February, 2015. Do not assume that anything "drops off" of a credit report without verifying it. Make sure that you check your credit reports (all three) minimally on an annual basis to find what's there and make sure things that are too old are challenged.
Will an unpaid collection account really go off credit report according to the estimated time its supposedto whether paid or unpaid?
In Canada your personal credit report is purged every 6 years. Being so; any written off accounts or collections and paid off accounts will fall off of your credit report. Equifax will confirm this with you. Call 1.877.227.8800 to contact Equifax direct. Might I advise that it is a good idea to check your personal credit every 8 months; this way you will know exactly what financial institutions see when they review your credit when you are applying for credit. Applying for creidt can sometimes by a trying event, educating yourself on your own credit score will give you more leverage to negociate the terms of a loan for example.
How does paying off a charge off affect your credit?
Usually, once a company charges off a debt, they will send the unsavory transaction to the credit bureaus, lowering one's credit score. Even if that individual pays the charge-off, the damage is done insomuch as the lender rarely sends an updated message indicating that the debt was paid. If you paid the charge-off, you may dispute the transaction line (by having a note added to the line that states that the debt was paid on a particular date), however, you DID allow the debt to get charged off, so that line will only go away after seven (7) years.
Can your credit score go up if your charge off is dropped after 7 years?
I just need to know what happens to your credit score after a charge off has been dropped past 7 years.
How many years does your credit report last?
Your credit re-establishes itself every 7 years, which means if you have a negative item on your credit that has been charged off it will go away in 7 years but up to ten years for bankruptcies and repo's.
How do you eliminate credit?
First, stop buying on credit. Then, start with the credit source you owe the least on and get it paid off. When it is paid off, go to the second least and pay it off. Do this until all your credit is paid off.
Can a person file for homestead credit even if they are a homeowner and the mortgage is payed off?
if a person is a home owner and there mortgage is payed off how years may the go back?
How long does it take for credit score to go up in rating after paying off debt?
How long does it take for credit score to go up in rating after paying off debt?
Will your credit score go up when a bankruptcy comes off?
Yes, a Bankruptcy is one of the most damaging accounts which can show up on a credit report. The good news is that after 2 years, the account doesn't impact your credit score as much. Once it is deleted, your credit score is improved.
Where can one find information on paying off credit cards?
Information about paying off credit cards can be found on sites that deal with credit problems. There you can find places to go to to help pay off your credit card debt within your budget.
How do you get bad credit off your credit report?
You pull your credit report at credit report .com and as long as it has been seven years you can go online to dispute it. It should say dispute just push the button or call to dispute it they should have a number for each credit report which concist of three separate ones.
Once a chapter 7 falls off your credit report how much will your credit score go up or will this have an affect on your credit score?
I had a 670 score the month before it dropped off, and when it dropped off it went up about 50 points. In that period (ten years) I never had one late payment, so you can recover from a Chapter 7. It just takes time.
If you had 10 charge-offs and a score of 500 but paid them off two years ago and have carefully been building up your credit since then what should your score be now?
answer: be patient. it takes 7 years for this information to no longer be reported to the credit bureau. if you want to simulate different scenarios with your credit and how different approaches will effect your credit then go to www.myfico.com. Great service.
If you have a charged off credit card will it only stay on your credit report for 10 years?
All derogatory credit, including late payments as well as account written to profit and loss (which show on your credit file as either an R9 for Revolving Charge off or I9 - Installment Charge-off) can be removed after 7 years. Bankrutpcy Chapter 7 - stays on for 10 years. You must be proactive at the 7 year period to insure that it does get removed, as it does not always fall off by itself. You must obtain your credit report, then go through the standard dispute process. But the good news is, it is very easily accomplished as the 7 year period is mandated by regulation.
You had filed bk it didnt go through it was dismissand the only one who wanted to go through was the lawyer so how can you get it off your credit history?
i think you can dispute it through the credit brureaus to get it off
