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You can write the three credit reporting agencies and report the debt as paid. Usually, the debt holder will write them for you, but you should check that this has been done.
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∙ 9y ago
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Estate insolvent cannot pay credit card debt affect on heir's credit history or tier score?
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get paid.
How long after paying off debt does it take change the credit history as showing good and will creditors be able to continue to see on the history the debt problems in the past?
As soon as the company reports to the credit bureaus, it will reflect the changes in the status of the amount paid and status of the balance of the debt. Unfortunately, once the debt (account) was created it will remain on your credit report for seven years from the last time it was active. Unless you dispute the debt and get it deleted from your credit profile.
When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?
When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.
Can i apply for credit card if you have paid collection account on your history?
Yes. They will also consider how much debt your currently have and how you are paying your other current obligations as well. Just having a past paid collection will not hurt your chances in getting a credit card.
When are you in credit card debt?
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
How long will a bad account stay on credit history?
Until you clear your debt and your good with the company. After that it will stay on there for about a year but will also have that you paid your money. If you havent paid your debt, then it will remain on your credit history.
Estate insolvent cannot pay credit card debt affect on heir's credit history or tier score?
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get paid.
How long after paying off debt does it take change the credit history as showing good and will creditors be able to continue to see on the history the debt problems in the past?
As soon as the company reports to the credit bureaus, it will reflect the changes in the status of the amount paid and status of the balance of the debt. Unfortunately, once the debt (account) was created it will remain on your credit report for seven years from the last time it was active. Unless you dispute the debt and get it deleted from your credit profile.
When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?
When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.
If you have bad credit but the debt is paid off can you get a loan?
Yes
Bad Debt expense that was eventually paid by the customer How do you reverse the Bad Debt expense in QuickBooks?
Debit A/R and credit your allowance for uncollectibles account whatever the amount was to reinstate the amount previously written off. Then you'll debit cash and credit A/R to record cash collected from the customer.
Can i apply for credit card if you have paid collection account on your history?
Yes. They will also consider how much debt your currently have and how you are paying your other current obligations as well. Just having a past paid collection will not hurt your chances in getting a credit card.
When are you in credit card debt?
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
What you should do.... if now you are out of the country for a while and you cant pay the credit card debt. what will happen when you go back?
Your credit history would have suffered badlyThe interest/balance amount to be paid would have increased
What is a credit history?
The credit history of a person is the record of whether this person has paid his or her loans, and how promptly.
How long does a debt stay on your credit if the amount is not paid?
A debt will stay on your credit report for seven years after the date that you were originally delinquent on the account. After seven years, this debt is taken off of the account.
In English Law What happens to credit card debt after the death of The card holder?
The Debt goes to be paid by his estate, if there is no money to pay the debt it just bad luck for the credit card company.
