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seven years from the date of last payment.
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∙ 15y ago
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Will being in debt affect your credit rating?
Not generally.
How does an agreement on a Chase credit card debt settlement offer affect your credit rating?
A debt settlement offer has no bearing on your credit rating or score. It is only an offer, a proposal. Your credit rating is based on how you have paid the debt in the past 7-10 years. Your credit score is a numerical picture of your assessed risk as a borrower, based on the information in your file at the time the score is requested.
What is the purpose of credit rating agency?
A credit rating agency assigns credit ratings to certain types of debt obligations and debt instruments.
Can business credit card debt affect my personal credit card balance?
A business credit card debt can affect someone's personal credit card rating. A credit report for an individual is processed by activity of one's overall credit. This means that having debt for a business credit card can hurt a person's chances of receiving lower interest for a home finance loan.
Does a refinance loan affect your credit rating?
A refiannce loan will not affect your credit rating. Debt consolidation loans will and you will want to stay away from these. When refiancing, be sure that your prior loan was satisfied in full by your new lender to avoid any problems.
What does the bond credit rating assess?
Bond credit rating is used to assess the credit worthiness of a corporation or government's debt issues. A bond credit rating is similar to a credit rating that an individual person receives.
Can unpaid emergency medical bills significantly affect your credit rating?
Any unpaid debt regardless of the nature of the debt will significantly affect your credit ratings. Medical bills can be purchased by a third party called a collection agency which could cause more derogatory postings to your credit file.
When paying off a credit card does it hurt to do a settlement exception?
Yes, they will note on your report that this debt was "settled" This does not affect credit score but will catch the eye of any lenders looking at your report.
If you have bills in collection after 7 years that were not paid does the debit just go away?
Nope ... they remain due until paid, and will remain on credit rating until the debt is settled.
How long does it take for credit score to go up in rating after paying off debt?
How long does it take for credit score to go up in rating after paying off debt?
Will closing your checking and saving accounts to open checking and savings accounts with another bank affect your credit rating?
No credit reports only report debt not assets. Checking and saving account information does not appear on credit reports so will not affect your credit score.
If you've settled a debt with a credit collection agency can the original creditor buy back the account and try and charge you again?
No ... you have the proof that the debt was settled.
