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How do you know if your debt was charged off and if so does that mean you don't owe anything and then your credit can begin to improve again?
Wiki User
∙ 8y ago
A charge off does not relieve you of the debt. It is a term that banks use to clear defaulted accounts off of the books. As a general rule, the account is sold to a third party. That agency will continue efforts to collect the debt. The charge off/debt will stay on your credit report for seven years. The state you live in is only relevant if any legal action such as a lawsuit is taken.
Wiki User
∙ 8y ago
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What effect will a 13 year old bankruptcy have on getting an SBA loan?
Lots of people think that once they've filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn't always true, there are always ways to improve your financial standing, and there are also ways to repair your damaged credit rating. http://best-loans.awardspace.com/Bankruptcy.htm In fact one of the best ways to improve your credit rating is to refinance your home mortgage, this will help to improve your credit history in a number of different ways.
If you have not paid anything to creditors for ten years will your credit report start over new again?
Yes, if you have not had credit for 7 years or more, your credit report will show no activity.
When an original creditor sells a charged off account to another company does this start the 7 year clock ticking all over again?
No. When an original creditor sells a charged off accounts to another company. I asked the Credit bureau to investgate. However, the creditor is unable to remove it from my credit report. does this start the 7 year clock ticking all over again from the date the credit bureau investigate?
How much can a third party collection sue for on a credit card account balance of 2500?
It is probably unreasonable for them to expect more than the $2500 dollars you owed. Also, if the debt is several years old, though, you may want to check the statute of limitations for your state to see if you are still liable to pay it off. If your credit report shows that it has been charged off, do not pay them anything since it starts the clock again.
Would you try to pay off charged-off credit if it's fairly new and does it stay on your report anyway paid or unpaid?
It's always good to take responsibility for your debts. There are benefits that come from this. Paying defaulted accounts does nothing to improve your credit and can, under certain circumstances, lower your score. However, lenders like to see that consumers have paid former debts. This may help you should you need to borrow money again in the future. Charged off debts may appear on your credit report for 7 years from the month/year you last paid the account on time immediately prior to its' default. Nothing legally changes this reporting period, even paying them off.
Is sneakermash website legitimate?
it is a scam. charged my credit card and never heard from them again
What effect will a 13 year old bankruptcy have on getting an SBA loan?
Lots of people think that once they've filed for bankruptcy they will be unable to ever get a loan again, and ultimately they are unable to do anything financial ever again. This isn't always true, there are always ways to improve your financial standing, and there are also ways to repair your damaged credit rating. http://best-loans.awardspace.com/Bankruptcy.htm In fact one of the best ways to improve your credit rating is to refinance your home mortgage, this will help to improve your credit history in a number of different ways.
Can you improve your credit with numerous judgments against you?
Face your judgments using valid arguments, and have your name clean again.
This is for what you?
This is for what you were already charged, you will not be charged again.
If you have not paid anything to creditors for ten years will your credit report start over new again?
Yes, if you have not had credit for 7 years or more, your credit report will show no activity.
When an original creditor sells a charged off account to another company does this start the 7 year clock ticking all over again?
No. When an original creditor sells a charged off accounts to another company. I asked the Credit bureau to investgate. However, the creditor is unable to remove it from my credit report. does this start the 7 year clock ticking all over again from the date the credit bureau investigate?
When you buy from amazon after you pay for the first time will you get charged for every item again when they start to ship?
No!, if you use your credit when you buy from amazon you don't get charged until it arrives to your house. So to summerize, you get charged when your item(s) arrive:) Hope that helped
You are the executer of your mothers will Now that she has passed and your name is going on the deed your brother wants his name on the deed to improve his credit Can this be safe?
don't do it - if your brother has already messed up his credit - he will do it again and risk yours as well
If hotmail account is cancelled in writing July and is still charged to a credit card in August and then the service is removed in September without refunding the credit card can you sue them?
why not just contact them and ask for a refund? If you sue the courts will require that you demonstrate damages. You have been "damaged" by the amount of money you were charged. If they give it back to you, you are "whole" again. It is doubtful that the courts would give you more than they charged.
How do you improve your piano playing?
by practicing again and again
How much can a third party collection sue for on a credit card account balance of 2500?
It is probably unreasonable for them to expect more than the $2500 dollars you owed. Also, if the debt is several years old, though, you may want to check the statute of limitations for your state to see if you are still liable to pay it off. If your credit report shows that it has been charged off, do not pay them anything since it starts the clock again.
How do I improve my spellings?
By getting rid of the final s in spellings. It should read "How can I improve my spelling" But really, the only way to improve spelling is to read, then read, then read again, and again....
