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2014-08-27 21:17:59
2014-08-27 21:17:59

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.


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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.

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.

As long as they are actively pursuing it, they can chase it until the debt is paid. There's no way to simply keep avoiding the debt, it won't just 'go away'.

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.

Credit card consolidation or reduction occurs when someone consolidates the amount owed on their credit card to make one payment. This eliminates the amount of interest is paid and can reduce ones debt quicker.

A consumer's responsibility for a debt is a separate issue than credit reporting. If you owed a debt 5 or 6 years ago, and never paid it, you still owe it. There is a statute of limitations for how long a debt can be collected, another for how long a consumer can be sued over a debt and another for how long a debt can show on your credit report.

Yes, as long as you are all paid up and your credit is good enough to qualify.

You will owe your credit card debt until it is forgiven, discharged in bankruptcy or paid off. Credit card debt can be negotiated down with the creditors.

Roll-Down Your Credit Card Debt!The Credit Card Roll-down Calculator applies two simple principles to paying off your credit card debt.Payoff your highest interest rate first.When a card balance is paid in full, apply its monthly payment to the card with the next highest interest rate.To see how this can be applied to your credit card debt, enter your credit card balances and an additional Roll-down amount. The calculator will then apply your additional monthly payment to the credit card with the highest rate. When that credit card is paid in full, the card with the next highest rate will be paid down. This continues until you have rolled through all of your credit cards and your debt is paid in full. Click the "View Report" button for a detailed look at the results.

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.

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.

Farmers were in debt because they were paid little amount of money.

It should drop off after 7 years, but you should write to the credit reporting angencies to report the payment and provide proof that the debt has been paid and this might expedite removal from your credit report.

Until the amount owed is paid in full or the judgment creditor agrees to a settlement of the debt.

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.

If you're looking for a way to pay off your credit card debt, there are two steps. First, pay at least a few dollars extra on your smallest balance. This will cut down your interest and more of the payment will go to reducing the balance. The second step is taking the full payment once that credit card is paid off and applying it to the next lowest card balance. This will increase the amount that is paid each month on the balance and get it paid off sooner. Continue to do this until all of your debt is paid.

No. If they are tell them that the debt is paid off, and ask for them to cease any future calls. You might want to check to see if your credit report is updated with this paid status.

It goes on the credit reports as a delinquencyAnswer:If you don't pay your credit card debt then to your creditor may take you to civil court and can get a judgment to hold your property. There are other penalty as well if you dont pay your credit card debt.

Debt consolidation is usually removed when you complete or terminate the debt management plan. It is advisable to review your credit report on completion of the program and make sure that all information on your credit report is accurate. If the notation that you are undergoing debt consolidation has not been removed, you will need to contact the credit bureau to have it removed. There are a few creditors who may continue to report an account in a debt management plan as delinquent until the balance is totally paid up. This may have a negative impact on your credit worthiness.

No - if you had bad debt on your credit it has already been effected in a negative way however, it will be adjusted once it has been updated of the paid off debt.

The amount shown on the 1099C is considered taxable income under IRS regulations and should be reported as such when filing ones tax return.

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