How long does a paid collection bill stay on your credit report?
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Under the Fair Credit Reporting Act information can be included in your credit reports for seven years. But there are exceptions to this rule: . Information about criminal convictions may be reported without any time limitation. . Bankruptcy information may be reported for 10 years. . Informa…tion reported in response to an application for a job with a salary of more than $75,000 has no time limit. . Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit. . Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Here is more input: . The seven year statute of limitations on information listed on your credit report figures from the date of last activity. . According to the FCR Act Section 605 a debt can remain on a credit report for 7 years and 180 days after the delinquency that caused the account to go bad. Sometimes creditors will sell their bad accounts or post information on the credit report to show an activity date that is less than 7 years. THIS IS PROHIBITED. (I ended up having a judgment removed, the collection accounts removed, and the original creditor account removed.) In short, the time clock starts on the month the original delinquency started by the original account, regardless of whether the account has been sold to a collection agency, was paid at a later date, or a judgment was placed. The FTC has ruled this to be the law when it comes to time periods. If the credit reporting agencies are showing an account on your record that originally went bad more than seven years ago, regardless of date of last activity, dispute the information and they will have to remove it. The reasoning behind this is similar to chapter 13 bankruptcy which stays on your credit for just 7 years instead of chapter 7. The courts have ruled if you did not file a bankruptcy and had several bad credit items they would strictly fall in under the chapter 13 guidelines. I ended up paying on debts that were less than 7 years old and had all the collections, judgments, and original creditors of more than 7 years removed. Even though the judgment was only 2 years old and unpaid and the collection account was only 3 years old, they were still bound to the time line of the original creditor. This regulation prevents accounts from staying on your credit forever. ( Full Answer )
Removing Paid Accounts from a Credit Report If you haven't paid your collection account(s) yet, negotiate with the collection agency. State that you plan to pay in full, and that you want them to agree to remove the item from your credit report. If you've paid, and the item remains on your report, …go to the credit bureau and dispute the item that has been paid. It's a good chance that the collection agency has purged your record and therefore will NOT verify a dispute investigation from the credit bureau. If the credit bureau doesn't receive verification from the collection agency in thirty days, they are obligated by law to delete the item from your credit report. Only the collection agency or the credit bureaus can remove collections off your credit report. You can either negotiate with the collectiona agency or dispute it to the credit bureaus. ( Full Answer )
If you had vehicle repossessed seven years ago and it has been turned over to a collection agency will the collection stay on your credit report until it is paid in full?
Repo on a Credit Report . The question is a little vague, however here's what I can say: IF, and it should have been, the repossession was first put on his credit report 7years ago then no. Any negative credit - excluding bankrupcy - by law must be taken off your credit report after 7years of its… last active date (this is either when it was put on, or when you last paid it). ( Full Answer )
An unpaid collection account will remain on your credit report for7 years from the date the account was reported by the collectionagency. Keep in mind that any new activity regarding the account(for example, if you decide to pay it off) will reset the timelimit. In other words, if you have an unpaid… collection accountfrom Jan. 2000 and you decide to pay it in Apr. 2004, it willremain on your credit report for 7 years from the date you paid(Apr. 2004) instead of the original date it was reported (Jan.2000). Leaving it unpaid means that 7 years from Jan. 2000, it mustlegally be removed from your report. The previous answer is incorrect. Paying on a collection accountdoes NOT re-set the time limit. The Fair Credit Reporting Act establishes a method by which the"reporting period" is timed at 7 years. This date is established at1681c, Sec. 605(c)(1) "...upon the expiration of the 180-day periodbeginning on the date of the commencement of the delinquency, whichimmediately preceded the collection activity..." So, the date that triggers the 7-year countdown is the last time aconsumer pays their account on time immediately before it isdefaulted. Nothing can legally change this date. Data Furnishers(creditors) have 90 days from the first time they report acollection to identify this date. Altering it (because of a paymentor for any other reason) would provide grounds for a lawsuit forviolating the FCRA. ----------------------------------------------------------------------- Actually the first answer is correct per conversation i had withEquifax ---------------------------------------------------------------------------- As a credit counselor, I get this a lot. The common source ofconfusion is that the statue of limitations to be sued (varies withstate) gets reset which means you can still be dealing with a debteven after it has fallen off your report. It is true the debt mustbe removed after 7 years, regardless if you make payments or not. ( Full Answer )
7 years, after they are paid off. I have heard that tax liens stay on your credit report 10 years after they are paid off.
Repo on Your Credit It stays on your credit report for 7 years to the day the loan became delinquent. Say you made your last complete up to date car payment August 15, 2001 and you fell behind about a month after that staying one month behind until December when you missed another payment becoming… 2 months behind. The repossession then occurred in January 2003. This will stay on the credit report until September of 2008 for that 7 year period, regardless of when the loan winds up getting paid off. It can stay on the report a bit longer if it goes to court and the bank gets a judgment against the borrower. Say this happens in 2004, then that stays on the credit report another 7 years until 2011. Bankruptcies stay on 10 years while delinquencies and defaults stay on for 7 years. More Information: . Seven years, unless you're applying for a high-paying job or a very large loan or life insurance policy, in which case the repossession will always be reported. . Repossessions and all other notations remain on credit reports for seven years from the date of last payment IF there is no judgment on the account. In the event of judgment it remains for ten years after the date of last payment or the date of judgment (whichever is later), and can be extended for ten additional years in some circumstances. . Occasionally, errors are made by the credit reporting agencies, and notations on reports may remain longer than they should. In the event of an unfair or erroneous reporting, contact the credit reporting agencies involved by registered letter. Corrections must be made within thirty days of contact. Be prepared to provide support for your request to make corrections to your credit reports. Generally though, no information older than seven to ten years should ever appear on a credit report unless ordered there by the courts. . For reference, please consult the Federal Fair Debt Collections Practices Act. . For debts that have gone to a collection agency, be aware that any contact, letters, phone calls etc to that agency, can set a new date on your credit file. ( Full Answer )
Judgments on Credit Records The Fair Credit Reporting Act [15 USC Section 1681c] (a)Information excluded from consumer reports... (2)...civil judgments...that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the …longer period. So, 7 years from the date of entry, or longer, if your state has legislation which allows it report longer. Here is input from others: . A judgment remains on a consumer's credit report for 7 years from the "date of entry, or until the governing statute of limitations has expired, whichever is longer". This time period applies to each legal action. Under certain circumstances and certain state's laws, judgments can be renewed. The renewal of a judgment would allow it to show on a credit report for 7 years from the date of renewal, if allowed by state law. . Generally seven, although most judgments are renewable in which case it could be on a cr a very long time. If paid it would be listed as "satisfied" and be expunged after the 7 years expired. ( Full Answer )
It stays 7 years from the date of the late payment that caused it to be reported to the collection agency, even if you pay it off. In accordance with HIPAA, your medical information may be reported for purposes of collecting on an UNPAID medical bill. Once the medical bill is paid, there is no long…er a permissible purpose for divulging your medical information. Therefore, a paid medical bill should automatically be removed form your credit file in accordance with HIPAA. ( Full Answer )
You have 3 options: You can write a letter of dispute to the credit reporting agency. By law the CRA has 30 days to verify the item in question. If they are unable to verify, the account is shielded from view on that credit bureau. You can request that the original creditor or collection agency with…draw the account from the credit bureaus. This is generally not accomplished on accounts that have already been paid. You can wait 7 years from the time the account was last used for it to be shielded from view. ( Full Answer )
How long does a debt stay on your credit if the amount of the debt is paid and the report is showing a zero balance owed?
About 10 years. I have the same thing. It involves the overall rating of your credit report, good or bad. It shows other agencies along with employers on how well you are at handling your own finances, and your credit worthiness. Balance amount and paid status have nothing to do with how long accou…nts show on your credit report. If this is a positive account, with nothing derogatory listed, it can show as long as 10 to 12 years. Any derogatory information triggers a 7-year countdown from the date of last activity. So, if your question pertains to a collection or charged off account, it will show on your credit for 7 years (and possibly 180 days more) from its DLA. There is certain information exempt from that 7 year rule. Unpaid tax liens, student loans and child support obligations have no limitation on how long they can be shown. Chapter 7 bankruptcy listings have a 10 year time frame. The law also provides exclusions to these time limits. It is possible, although rare, for a credit grantor, insurer, or employer to pull your credit and get all the information in your file, even that normally shielded after 7 years. ( Full Answer )
If the debt originated after December 1997; it may remain on your credit report for 7 years plus 180 days from the last time it was paid on time.
After you pay off a collections account how long does the negative record stay on the credit report before it is taken off?
The length of time a derogatory account shows on your credit has nothing to do with it being paid or unpaid. The reporting period is 7 years from the "date of last activity". This date is established by the Fair Credit Reporting Act as the last time the account was paid in a timely manner immediatel…y prior to its' default. ( Full Answer )
A Chapter 7 bankruptcy may display on your credit for 10 years from the date of filing. Chapter 13 may stay for 10 years also, but it is customary for those to be removed after 7 years. Here is more specific advice and input from various contributors: All discharged bankruptcies whether a state …or federal filing remain on a CR for 10 years. A dismissed chapter 13 remains for 7 years from date filed, a dismissed chapter 7 remains for 10 years from date filed. Chapt.7-11-12 will remain for ten years. A chapter 13 will remain for seven years from date filed if successfully completed, for 10 years from date filed if dismissed. Ten (10) years from date filed for a discharged chapter 7 or 13. Seven (7) years from date filed for a dismissed chapter 13, ten (10) years for a dismissed chapter 7. Although it is true that the federal Fair Credit Reporting Act does provide that bankruptcy entries will remain for 10 years, there are some creditors that will only leave a chapter 13 bankruptcy on your record for 7, rather than 10 years. They do this to encourage people to pay part of their debts rather than discharge it all under a chapter 7. More importantly, the effect of bankruptcy on one's ability to get credit is vastly overstated. The key to getting the credit you need has far more to do with the amount of present income you have rather than any negatives on your credit report. In short, if you have good present income, the creditors will look past your credit report to your wallet in the sense that it is possible, even with a bankruptcy on one's record, to get credit for cars and new credit cards as soon as you are discharged in a chapter 7 (about four months after you file), and after a year or so, you can even get a mortgage on a house. They may not give you the best rate, but if you have good present income, even a person with a bankruptcy on their record can get the credit they want in almost all cases. You will not qualify for a FHA until a chapter 7 has be discharged for 2 years. A chapter 13, you will only have to wait a minimum of 1 year from filing date. Seven years in Australia Details of a bankruptcy order in the UK will stay on your credit file for 6 years. 7 to 10 years depending on the state you live in. Most lenders will consider loans after 2 years. If information is still on you credit history after this time frame you need to dispute with all three major credit bureau agencies. ( Full Answer )
How long does a judgment stay on your credit report and does the time limit start from the day it is filed or from the day it's paid off?
A judgment will remain on a credit report for the full 10 years. If it is paid it will still show on the report as "satisfied" or similar wording. The time is determined by the date the judgment is issued.
Answer . \nThe time limits for various types of information to appear on consumer credit reports are set forth by the federal Fair Credit Reporting Act. \n. \nMaking payments or partial payments on bad debt does not effect the running of the credit reporting time limits except in cases of tax li…ens and federal student loans. ,\n. \nAll other types of items should expire on schedule, based on the original dates, regardless of when or whether they are paid. \n. \nLate payments **7 years from the date the late payment was due\n. \nCharge offs **7 years. The time runs from the date of delinquency plus 180 days\n. \nCollection accounts-seven years [the date of delinquency still refers to the original delinquency with the original creditor]. ( Full Answer )
If a doctor bill was being paid to a collection agency but they filed a judgment anyway can you get rid of the judgment on your credit report?
Answer . A judgment will stay on your credit report for at least seven years. Only time will remove this.\nJust adding to the answer given. There is one way to have a judgement removed from your credit report. Although this is not a guarantee, you do have a right to contact the creditor to work… out a deal to have the judgement removed. When you do this offering to pay the debt in full or make installments can be helpful. Only agree to do this when the creditor has made an agreement to erase the judgment off of your record. This must be in writing. If this does not work the use of a qualified attorney can help to make this happen. Creditors have the power to have judgements removed. Some will be happy to work with you and some will refuse even when offering to pay the balance. ( Full Answer )
Answer . Short Answer: Yes. If you were deliquent, and then paid, it will show that you paid, but were late. And that stays on your credit for seven years. Sometimes you can negotiate with the collection firm to have it removed from your credit in exchange for payment.
How Long does it take to have a collection account removed from your credit report once its been paid?
Answer . \nAccording to everything I have been reading, the collection can stay on your credit report for 7 years from the date of the original default of payment. I have understood that to mean that if your account was trnsferred from a creditor to a collection agency, the date of default cannot… be updated along with it. I also understand that there is an opportunity to negotiate with the collector to make a certain settlement payment as long as they are willing to remove all negative information related to this account from your report. After all, they are buying the debt under the assumption that they can make some money on it, so showing a willingness to pay has to get their attention. Make sure you get this writing if they agree to it, however keep in mind that they do not have to agree to your request.. Answer . \nIt will remain on the credit report for the required seven years but will (should) be noted as "paid or settled". ( Full Answer )
Answer . 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.
How long does it take for an unpaid bill take to be taken off your credit report after it has been paid?
Answer . \nitems will remain on your credit report 7 years from the date of last activity. What that means is if the account was already 6 years on your report but it was sold to another company it could remain on your report for another 7 years based on activity
Answer . \n7 to 10 yrs from the time it appeared initially on your credit. Contact\noriginal creditor & see if they will help you with a letter saying there\nwas a billing error, send the letter if you can get one to the collection company & have them remove the collection account for it was ente…red in error.\nCry a lot and ask for mercy. ( Full Answer )
"How long do you have till an eviction is off of your credit?" i am looking for an apartment but i have an eviction that's about 9 years old. the question on the aplication is have i ever been evicted? do i say yes or no? how do i find out if its still there?
Answer . The Fair Credit Reporting Act allows the legal action of foreclosure to remain for 7 years from the date of filing.
If you have an account that went to a collection agency however you paid it in full how long does it take for that collection account to be removed from your credit report?
Answer . It sticks for 7 years. The fact that it was turned over to a collections agency will make it to your credit report. When it is paid in full, it will say "settled" on your credit report so other creditors know you took care of the debt. Even so, it still haunts your credit report for 7 y…ears. ( Full Answer )
How long will bad debt credit cards stay on your credit report if you haven't made any payments on them and they have been in collections for over six years now?
Actually, the debt (as long as it isn't a bankruptcy or judgement) should be removed from your report 7 years from the date of delinquency. Many collection agencies will wait months, sometimes a year + to put a negative item on your credit report. This way it will effect you longer, and you will b…e more prone to pay off the debt in the future. If this happens, dispute, dispute, dispute!!! Dispute everything on your report, especially the items that have been incorrectly reported. I recently had a few items removed completely from my report because I disputed the dates, and the creditor couldn't provide ANY form of documentation to support I even had a debt with them. Also, there are statues of limitations in some states on debt collection. How long is too long before someone can file a judgement, ect. For example, in Texas that limitation is 4 years for debt collection. See: http://www.badcreditmd.com/statuteoflimitations.html ( Full Answer )
Answer . Typically seven years after the debt is resolved.\n. \n . \n Seven years from the date of last activity (DLA) of the account or when the account went into default and became a negative entry on the credit report.
Like other late payments reported to a credit reporting agency, anunpaid medical bill may stay on a credit report for up toseven years.
Judgements on Credit Reports . Judgments will remain on a credit report for the required 7 years regardless of the status.
How long does a negative account stay on your credit report after you have paid a debt to a collection agency?
Answer - bad credit length . \nusually 7 years, the trick is to get your credit report every year and dispute each item on it. When they can't find the records, they have to take it off. So keep trying.
Answer . \n7 years.\n. \nMost judgments are renewable and can be reentered on a credit report if they are not paid or settled.
Credit Report . Typically credit reports are updated monthly, but can take up to 90 days in some cases.
Length of Hospital bill on credit report . \nA hospital bill can stay on your credit report from 7-10 years. You can learn alot more by getting a credit report from Transunion, Experian or Equifax. You are entitled to one free credit report a year. You can go to annualcreditreport.com and get you…r free credit report their. It is very important to know what is on your credit report. ( Full Answer )
Years . A long time. It is up to you to Write them a letter and request to have the information removed from your credit report. There is also a law that requires them upon request to verify any information that they report to your credit report so that too can help but again nothing will happen …until you make it happen. You can send out a blanket letter include a copy of the law ( talk to the credit bureau, the reporting agency, or a credit service for a copy) to all creditors and reporting agencies, any info that cannot be verified will be removed. For instance the credit bureau tries to verify a closed account, the account number is no longer valid and therefore cannot be verified. Bye Bye bad record. ( Full Answer )
How long does a delinquent paid credit card account that has been closed stay on your credit report?
Answer . Sad to say that delinquent accounts will be on your report for 7 years unless you make an effort to have it removed. There are ways to do it. I cannot post my web site here however if you decided you need help then visit my bio page for more information. best of luck. .
Answer . You can review the Fair Credit Reporting Act for particulars, but generally speaking a paid bill will come off of your credit report 7.5 years after Date of Last Activity (DLA). In your case the DLA would be the last date your final payment was applied to the balance, paying it in full….. If you are interested, I may be able to help you remove trade lines where the balance was paid in full. Let me know. ( Full Answer )
Answer . Yes it will go on your credit report. It will usually appear as a "charge-off" if it has been sent to a collection agency.. Typicallly the answer is yes. It really depends on what the subscriber (the own of the debt) chooses to report. They may or may not report the debt to the Credi…t Reporting Agencies. They usually do, but I've seen it go both ways.. If the debt is already on your credit report, get the debt paid in full (try to avoid a "settlement"). Then request (in writing, return receipt requested) that the original creditor report the debt "paid as agreed". This can positively impact your credit score.. If consumers would take the initiative to communicate (in writing) with their creditors when they first encounter financial difficulty, the demand for collection agencies and bill collectors would significantly diminish. ( Full Answer )
You are entitled to one free credit report every year. If you wish to not take advantage of this free benefit, then you need to keep track of your bills more carefully and contact the companies directly.
legally , seven years under normal circumstances. id theft , if proven with the proper legal papers asap.
Usually, a judgment stays on a credit report for at least sevenyears. If you work with an attorney, it might take less time.
Can I get a medical collection removed from my credit report if I never got a bill because they did not put my apartment number on my bill and the bill has been paid after being sent to collection?
Yes you can have it removed from your credit report. I had a similar issue with a medical bill. It was never delivered to me by the hospital or collection agency. I called the agency and explained this. They said I could pay it off and they would have it deleted from my record. They also said they w…ill contact the credit bureaus to clear it off their records too. This happened earlier this month. I went to Equifax and disputed the collection on there end afterwards to make sure it gets taken care of. I'm just waiting to get confirmation now. ( Full Answer )
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.
only like 5 months. -andrea. It must depend on the type of credit report. My 2007 CSC Mortgage Services report has credit card accounts on it that I closed in 1997. No late payments, no negative marks. Just listed there as a closed account.. -Lee
what? do you mean a bankruptcy? 7 years or even more so depending on the states where you are in
Included in bankruptcy accounts and collection items both stay on your report for seven years maximun per the fair credit reporting act. The answer is 7 years.
What does it mean when your credit report states that you have a paid closed collection account on you credit report?
The original account with a normal credit company went to a third party collection agency. Only after it went to the collection agency was the debt paid and then the account closed.
I took out a loan about 10 to 11 years ago with the girl I was living with. I worked out. on boats for 30 to 45 days at a hitch. She was getting my payroll checks and cashing. them. and I thought my bank note was being paid, but it wasn't. As a matter of fact. she left me when I was sick in the h…ospital dying with a bacterial infection. It pisses me. off so bad I have trouble paying this bank. I wish it would just go away. ( Full Answer )
Negative entries from creditors remain seven years from the DLA.. Chapter 7 BKs for ten years, Chapter 11 for seven years.. Judgments remain for seven years but can be reentered when if they are renewed.
Once the account is paid it will update and report as such and remain on your file until it has reached the SOL for reporting which is 7 years
Most information (good and bad) will stay on your credit report for seven years. However, some financial disasters (divorce, bankruptcy) can stay for as long as ten years. The silver lining to this is that, the older the negative information is, the less influence it has on the overall report.
Negative credit information remains on a report 7 years from the last date of activity. In other words, the last date you made a payment. I recommend that you settle the debt with the stipulation that the negative entry is removed.