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Do you have to pay collection accounts dropped off credit reports?
Wiki User
∙ 11y ago
no you do not
Wiki User
∙ 11y ago
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Will collection agencies remove old bills from your credit if you pay them in full or just show them as paid?
Collection agencies don't manipulate your credit or remove accounts from your credit. The credit bureaus themselves are repsonsible for maintaining accurate reports, but because the credit is yours, you should check you reports at least once a year to ensure their accuracy.
How do collection accounts affect your credit score?
== == Collection account are 20% of the total credit score module.
If you get married how will your credit reports and bankruptcy affect your future spouse's perfect credit?
Your credit follows you individually. If you have joint accounts then they appear on both of your credit reports.
Who do i have to contact if i have to accounts in collection i was not aware of?
If you have accounts in collection that you were not aware of, you need to contact the collection company. You can also contact the credit bureaus for more information.
Will closing your checking and saving accounts to open checking and savings accounts with another bank affect your credit rating?
No credit reports only report debt not assets. Checking and saving account information does not appear on credit reports so will not affect your credit score.
Does updating collection accounts to a bankruptcy lower your credit score?
The fact of filing bankruptcy is already going to lower your credit score, and the point of bankruptcy, part of it anyway, is to resolve unpayable debt such as collection accounts. It is in your best interest to add the collection accounts to your bankruptcy, but if you consult your BK attorney, he is likely to advise you of this. The bankruptcy is the first next step in repairing your credit and improving your credit score.
Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?
You pay the collection agency.
If your brother's name is listed on your credit report as other names used does this mean his credit is mixed with yours?
Possibly. Mixed files happen all the time. If there are accounts on your reports that are NOT yours dispute them as not belonging to you. If your brother's name appears on your reports, dispute that as well. Accounts on your reports that are connected to any other names should come off your reports.
If you settle a chargeoff or collection does this increase your credit score?
Yes! I settled 2 collection accounts and my score stayed exactly the same.
What is Accounts receivable collection period ratio formula?
Average Colection period: Accounts Receivables divided by Average daily credit sales
How do you find out which collection agencies you owe?
You can get free copies of your credit reports once a year and check them to see what accounts have been placed with collection agencies. You can contact those creditors for the agency information. The debtor need not be concerned about such matters as it is a certainty that the collector/creditor will be in contact with them in one manner or another.
How do you find out what collection agency you owe to?
An easy way to find out what collection agencies you owe money to is by pulling your credit report. Credit reports will list balances with all creditors as well as if any balances were turned over to collection agencies.
