with some creditors when you're late once they begin the process by calling you and making you aware of the fact that you're late with the payment. if you don't respond in a timely fashion they will begin the collection process.
Usually before the statute of limitations runs out in your state on that kind of debt (3 to 5 years, commonly).
As your lender about the specific reporting policies. For the most part, late payments are not reported until the payment is at least 31 days late. Repeated late payments and excessively late payments will shave points off a credit rating.
Yes, it'll be there until the payments are completed.
That would be something you would have to settle in a small claims court.
It depends on how much you owe the credit card company. If it is under 3000.00 they will sell it to a collection agency who then can take you to court. It ruins your credit. If it is over 3,000.00 they can go to court (usually without your knowledge) and put a garnishment on your bank account. You go to the bank one day and surprise..no money. They will leave the levy on your account until the amount owed(plus interest) is satisfied. The bank has to do this if there is a court order. Your best bet is to call the bank or credit card company and try to work out payments. Retired Credit Collections Supervisor
Until the child reaches age 18. However, if the person that is required to make child support payments is behind in payments, child support will continue beyond age 18 until the full amount has been satisfied. This is computed based upon the monthly amount ordered by the court times the months remaining until the child attains the age of 18.
If you are paying rent on time for both apartments, there will be no impact on your credit report or credit score. Landlords use credit bureaus to check the credit of potential renters, however, they very rarely report abuse until the renter is many months behind. Having two rental units should not impact your credit score unless you have missed a number of rent payments.
Call the creditor and try to work something out, until you can start making regular payments again.
if its deferred because you are in school... then you arent being denied credit because of it. if you dropped out of school then you have to begin payments immediately... if not then you default... which will get you denials. if you are deferred because you are in school... then it actually helps your credit because its an open account that's current.
When a company won't extend credit to you for various reasons. Usually it is because you are behind on your payables/bills. Essentially, you are not allowed to buy on credit until the hold is off.
The court order controls until/unless it is modified.
Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report. I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".
Until it is paid or until it expires.