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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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Q: How long does a debt stay on your credit if the amount is not paid?
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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.


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.


How long can a debt collector chase a credit card debt?

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'.


How does credit card reduction work?

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.


How do you reverse a bad credit history after you paid a debt?

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.


Can you subscribe again to Verizon Wireless after a collections debt has been paid?

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


If a delinquent account was never reported and it suddenly appears on your credit report 5 or 6 years later are you still responsible for that debt?

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.


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.


Why were farmers in debt?

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


How long is a levy valid?

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


How long does a paid lien stay on credit report?

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.