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The answer to your question if you have over 500 accounts that are past due is to purchase an enterprise level software that allows you to report to the credit bureaus using a metro 2 format that the bureaus accept files in. The 500 account minimum is imposed by the credit bureaus and you would need to contact Experian, Trans Union, and/or Equifax; set up an agreement to furnish data with them, and update your accounts on a monthly basis. There are several sets of laws governing the reporting of accounts to the credit bureaus including the Fair and accurate credit transactions act (FACTA) and the Fair Credit Reporting Act (FCRA) that you should be familiar with prior to doing so.

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โˆ™ 2011-09-30 21:14:54
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Q: How do you report a bad debt owed to you to be placed on that person's credit report?
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What happens after 7 years of debt?

After 7 years of debt, the debt will be wiped off a persons credit report. There are some instances that certain types of credit will stay on the credit report for up to 10 years.


If you pay off an old debt no longer on your credit report will it be placed back on the credit report?

Yes it can. You should agree to pay it only if there is an agreement to not report it to the credit reporting agencies.


If unpaid medical is not on your credit report can they charge you for it after the fact?

Yes. Some institutions/businesses do not report to credit bureaus. The debt not being placed on a credit report does not mean it is not completely valid and collectible.


Can you be sued for a debt that does not appear on your credit report?

Yes, the credit report has no bearing on whether a debt is valid and subject to litigation.


What happens if you do not pay a collection agency?

if a collection agency isn't paid, the debt can be put on a persons credit report. The collection agency can also choose to garnish a persons paycheck.


How long does a debt stay active?

Unpaid debt can remain on your credit report for 7 years. If you have a bankruptcy this can remain on your credit report for 10 years.


What if a creditor is not on your credit report but trying to collect a debt?

You must pay all of your legitimate debts. A creditor is not required to report a debt to a credit bureau in order to collect the debt you owe.


Does debit consolidation hurt your credit?

{| |- | There is a chance that using debt consolidation services might affect your credit. Some debt management programs, like credit counseling, show up on your credit report. Some solutions, like debt settlement, don't show up on your credit report, but by definition cause late payments. Most debt consolidation services are there to help you get out of debt, not to sustain your credit report or credit score, so you should priorotize what you really want in seeking debt consolidation help. |}


Is ones debt completely gone when it is removed from credit report record?

It may not be, records on your credit report can expire and disapear but the debt still needs to be repaid


If you have been told you have a delinquent debt with a car repossession that was charged off in 1994 can this debt be placed on your current credit report even though you have denied ever owning the car?

A repossession that is over seven years old is not supposed to be on your credit report. It is not unusual for a collection agency to illegaly "reage" a debt in order to try to pressure you to pay. From your post it does not appear that you know what is on your credit report. If you have been denied credit then you are entitled to receive one for free. Contact information for the three credit reporting agencies can be found at solidgoldhomebusiness.com If this item is actually on your credit report then you can dispute the information and demand verification. Dispute instructions will be included with the report.


What is more credit damaging Bankruptcy or settling a credit card debt?

Bankruptcy would be more credit damaging than just having large credit card debt, mainly because it stays on your credit report for longer. One of the biggest disadvantages of filing for bankruptcy is the lasting effect it has on your credit report- typically staying on your report for 7-10 years. With credit card debt there are more flexible options and obviously when you pay the debt and does not stay on your report for as long.


How long credit card debt stay on credit report?

seven years


1099 c is received and the debt is cancelled Does it still remain on your credit report?

If 1099 c is received and the debt is cancelled means that it still remains on your credit report.


How long does cancellation of debt stay on credit report?

Most of the time cancellation of debt will remain on your credit report for seven years. If the cancellation of debt is associated with a bankruptcy, it may take 10 years.


Does the primary borrower receive any benefit to their credit rating when there is a cosigner on the loan?

This debt will appear on your credit report as a joint debt. It will bare just as much weight on your credit report as if it were in your name alone.


If you have old debt from another country and a collection agency in the US is trying to collect can they report the debt on your US credit report?

It is possible.


How long does credit card debt stay on your credit report?

7 Years from the DLA.


If a second collection agency takes over a unpaid debt can they have that collection put on your report?

Yes the second collection will be placed on the credit report. But they will remove the first collection agency off the report. In some states it is against the law to be double billed by two collection agency for the same debt.


Can you report a debt someone owes you to the credit bureau if they are not paying?

no


Do you owe a debt that is no longer reported on a credit report?

Yes, the debt is still valid and collectible.


Is it legal for a repossession to appear twice on your credit report?

IT IS NOT ILEGAL FOR ANYONE TO HAVE A DEBT SHOW UP TWICE ON THEIR CREDIT REPORT. THE BEST THING TO DO IS CALL THE CREDITOR OR COLLECTION AGENCY THAT THIS DEBT IS UNDER AND HAVE THEM REMOVE THE EXTRA INFORMATION OFF OF YOUR CREDIT REPORT. ASK THEM TO REPORT IT TO THE BUREAUS IN ORDER FOR THIS TO BE RESOLVED.


How do small businesses report clients to the credit bureau?

Consult with a debt collector. They have the legal qualifications to report to credit reporting agencies.


Repo how long will it take to get on credit report?

If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.


Is settlement good or bad on credit report?

Debt settlement is good for your credit rating. Just settle the debt and move on. Do not use a debt settlement company, ever.


May a creditor report the debt to a credit rating agency after the debt is time-barred?

Generally speaking, at some point the creditor is not going to spend the money to keep a deragatory on your credit report. In the case of Bankruptcy it stays on you credit report for 10 yeas. In the case of foreclosure it stays on your credit report for 7 years.