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If it has been about 5 years since a credit card payment been made and your credit is messed up is it worth paying them back?
Wiki User
∙ 8y ago
Even though no action has been taken against you. The SOL for your state has probably not expired. Therefore, whoever has the account, can still take legal action to collect the debt. As for "worth paying back." You should probably look at the situation from the standpoint of money owed, including penalties and accrued interest. These charges don't end, because the account hasn't been paid on. Which is why, a debtor can originally owe $2500 on a CC. And end up being sued for two or three times the amount, plus legal fees.
Wiki User
∙ 8y ago
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What is the payment address for Chase Freedom credit card?
i want to make payment online what is your addres
How much will your credit scores increase after paying off a mortgage?
Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.
Is it worth it to pay the full amount a creditor is seeking to maintain a higher FICO score or should you arrange for a reduced payment?
This question needs further review. If you are referring to paying a collection account, you must negotiate a with the creditor to receive a deletion letter prior to paying the account in full. Also you may be better off waiting than making the payment now. It also depends on if you are trying to make a large purchase e.g. a home in how you handle this matter. Since I don't have an idea what type of account you are referring to, it is best you seek more knowledge prior to paying. Making a payment without the proper knowledge could really hurt your credit. Look up the Book The Credit Bible by Phil Turner and it will assist you in this matter.
How many points does a 30 day late payment two years ago detract from your credit?
If you have not made any late payments since then, this late payment won't reflect heavily on your credit score. The late will stay on your credit report for seven years but as each year passes, it will become less important.
My husband cosigned for my 2nd mortgage and he is not on the first mortgage. if we have the same lender for both mortgages and we quit paying on the first mortgage how fast will his credit be impacted?
Since he is not listed as a borrower on the first mortgage his credit is not affected by paying or not paying that mortgage. Even if both loans are with the same company, he is only held responsible for the loan in which he signed.
What is the payment address for Chase Freedom credit card?
i want to make payment online what is your addres
Can edfund still take your federal income tax return after you have already agreed on a payment plan and have been paying on time for the last 7 months?
Yes, if you are on a rehabilitation program and you have not yet completed the program, or if you messed up a payment (too early or too late), they can still garnish your income taxes since it is not 'technically' rehabilitated (therefore it is still in default).
Is there a possibility of changing the date to make your payments?
If you are talking about a credit card payment or a loan payment to a bank or credit union, then yes you can. Simply contact the credit card company or bank/credit union and request a change in date for your payment. Explain why the new date will be beneficial to you, and therefore beneficial to the lending institution, since the new date will ensure you will make your payment on time.
Late Is Never Okay?
When money gets tight it can be tempting to put off your credit card bills to make other payments. Unfortunately, this can lead to a cycle that will raise your interest rates and damage your credit score. Paying your credit card bill on time should always be a priority.Credit Card Companies Talk To Each OtherOne late credit card bill payment can raise interest rates on every credit card you have. Since credit card companies send each other payment status information, paying late can offer a window that will let the interest rate on any balance you are carrying start to skyrocket legally. The costs can add up quickly.Paying a minimum balance on time will work out better than paying a larger balance later on. If you can only pay the small amount when your bill is due, pay it and save the rest to add to your next credit card payment. choosing to make a payment of credit card bill balance as soon as it is due can protect you from interest issues entirely if you have the chance.
How much will your credit scores increase after paying off a mortgage?
Your credit score will decrease after paying off your mortgage if everything else remains the same. Our credit score has been decreasing since paying off our mortgage 5 years ago. The suggestions for increasing our credit score were to take out a mortgage or take out a car loan.
Explain why some economists argue that payment by cheque is thesame as giving trade credit?
Some economists argue that payment by cheque is the same as giving trade credit since both involve transactions which are not made in cash .
Is it considered bankruptcy fraud if you get a credit card while in chapter 13 and are unable to pay for it and now it is in collection?
Probably- you are not allowed to apply for credit during a 13 unless the BK court approves it. Since you are bankrupt (i.e. you cant pay your bills) and you now take out more credit- a creditor can argue that you had no intentions of ever paying that credit card back or that you took on more credit when it was highly unlikely you would be in a position to pay it back. No way around it- you have definitely messed up your bk.
Is advertizing a debit or credit?
In the terms of accounting - advertising would be a debit - since you would be paying someone to advertise your business.
Should a co signer be told if something they signed for is getting repoed?
No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.
Is it worth it to pay the full amount a creditor is seeking to maintain a higher FICO score or should you arrange for a reduced payment?
This question needs further review. If you are referring to paying a collection account, you must negotiate a with the creditor to receive a deletion letter prior to paying the account in full. Also you may be better off waiting than making the payment now. It also depends on if you are trying to make a large purchase e.g. a home in how you handle this matter. Since I don't have an idea what type of account you are referring to, it is best you seek more knowledge prior to paying. Making a payment without the proper knowledge could really hurt your credit. Look up the Book The Credit Bible by Phil Turner and it will assist you in this matter.
How many points does a 30 day late payment two years ago detract from your credit?
If you have not made any late payments since then, this late payment won't reflect heavily on your credit score. The late will stay on your credit report for seven years but as each year passes, it will become less important.
You are being sued by Midland Funding LLC you were wondering if this is legal to do since the credit card they are suing you over has not been used in over 4 years you live in Texas?
its is 7 years since last payment made on the credit card
