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If a collection account has been removed from credit report will it get effected by the 'last activity date' if a person pays the balance off?
Wiki User
∙ 8y ago
It may.
There is no way to tell what the repercussions will be. If the company (assuming that it is a collection agency and not the original creditor) is willing to take your payment and not update the now non-existant credit listing, then it may have no effect, except to clear your conscience. If it is an original creditor, like a credit card company; their processes of reporting and updating bureaus are so fragmented and automated, they may not be aware of, or able to control, the reporting of information to the bureaus. A paid collection with a recently reported date MAY find its way back onto your credit and impact your credit scores. Technically, the date the account was paid is NOT the date of last activity. However, this error is a common occurence and may happen in your case.
Wiki User
∙ 8y ago
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When an account balance is written-off what happens to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
Do you have to pay the original balance on account that has been sold to collection agency?
yes
On my account it reads ledger balance and then available balance they are two different amounts what is ledger balance?
There are several definitions, here's a few: Account balance after all activity for the previous day has been posted to the account. An account balance that is the result of the total debit and credit activity as of a specific date and time. There is no indication of funds availability or usability. A record of the balance in a customer's account per the bank's records. The balance in an account at the beginning of each day, also known as the current balance. Includes all deposits and withdrawals that were posted from the previous night, whether or not funds have been collected. See also: Collected balance. Hope this helps you.
Julio has a revolving credit account at an annual percentage rate of 18 percent His previous monthly balance is 362.11 Find the new balance if Julio's account showed the following activity?
$639.90
Can a creditor and the collection agency who purchases your account from the creditor both report the same debt in separate instances to a CRA?
Yes, they can and it's customary for them to. The original account should have all the history, including late payments you made and the status (collection or charge off), the DLA, and date the account was opened. It should not be showing a balance due once sold or assigned to a collection agency. It may have a statement about being sold or transferred, but not always. The CA account should have the date they received, or were assigned, the account and the current balance (often with interest added in). The DLA should not have changed.
When an account balance is written -off what happens to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
WHEN AN ACCOUNT BALANCE IS WRITTEN OFF WHAT HAPPENS TO THE ACCOUNT BALANCE?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
When the account balance is written off what happen to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
When an account balance is written-off what happens to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
Do you have to pay the original balance on account that has been sold to collection agency?
yes
On my account it reads ledger balance and then available balance they are two different amounts what is ledger balance?
There are several definitions, here's a few: Account balance after all activity for the previous day has been posted to the account. An account balance that is the result of the total debit and credit activity as of a specific date and time. There is no indication of funds availability or usability. A record of the balance in a customer's account per the bank's records. The balance in an account at the beginning of each day, also known as the current balance. Includes all deposits and withdrawals that were posted from the previous night, whether or not funds have been collected. See also: Collected balance. Hope this helps you.
What is the mininmum payment for collections?
There is no "minimum payment" really. Any payment you send will be applied to your balance, however, most collection agencies will only agree to a payment arrangement if it meets their schedule to be paid within a certain time frame. If you are paying less collection activity would continue on your account.
Julio has a revolving credit account at an annual percentage rate of 18 percent His previous monthly balance is 362.11 Find the new balance if Julio's account showed the following activity?
$639.90
How do you balance inquiry online to riyad bank?
To balance inquiry online with Riyadh Bank, you can log in to their online banking platform using your account credentials. Once logged in, navigate to the account balance or account summary section to access your account balance and transaction details. You can also choose to set up notifications or alerts to stay updated on your account balance and activity.
What are the parts of balance of payments?
Balance of payments is a collection of accounts conventionally grouped into three main categories, with subdivisions in each. The three main categories are: 1) Current Account 2) Capital Account and 3) Reserve Account
What online banking services are offered by Dollar Bank?
Dollar Bank offers the following banking services to its clients: minute activity of the balance of the client's accounts, download of account activity and reordering of checks in the account of clients.
What is an activity checking account?
activity checking accounts are checking accounts perfect for people who only write a few checks a month and are unable to maintain a minimum balance.
