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UNLESS she declares B/K, it will remain for a longer time.

No not true. EVERYTHING except bankrupties and tax leins may ONLY remain on your credit for 7 years. If it is still there after 7 years contact the credit bureau and demand they remove it. This MUST be done in writing.

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โˆ™ 2015-07-15 19:05:03
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Q: If you do not pay the deficiency on a repo will it get completely erased from your credit report after seven years?
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What are the odds of a bank coming after you in a deficiency judgment?

99.9% unless you are in prison or otherwise known to be completely incapable of paying. Then they just report you to the credit bureau

When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?

When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.

How often does the credit report get erased if you have just applied for too many cards and got denied?

Generally, credit report notations fall off after 7 years, unless the hits are repeated.

Pay off a repossession does it get removed from your credit report?

Paying off a repossession will not generally get it removed from your credit report. If you have a good faith basis for disputing the deficiency on your credit report, you should do that. Many consumers have very good arguments as to why they do not owe the deficiency they are being charged by lenders. In addition to disputing the deficiency on your credit report, you want to be sure to defend any deficiency action brought against you by a creditor. Do not default on these lawsuits. When faced with a competent defense, most creditors, debt buyers in particular, cannot prove their case against you. Winning the case is court certainly goes a long ways toward providing you with a sound basis to dispute the alleged debt on your credit report.

If unpaid medical is not on your credit report can they charge you for it after the fact?

Yes. Some institutions/businesses do not report to credit bureaus. The debt not being placed on a credit report does not mean it is not completely valid and collectible.

Can bad credit be erased out of your credit file legally?

Bad credit can be erased legally by sending certified letters to the credit reporting agencies disputing information found in the reports. If the credit agencies cannot provide proof of the debt or validate it then legally the debt is removed from one's credit report. Alternatively, one can contact the creditor and request that the debt be removed if exchanged for a pay off.

Is ones debt completely gone when it is removed from credit report record?

It may not be, records on your credit report can expire and disapear but the debt still needs to be repaid

How can you erase a repossession from credit report?

It can not be erased. If it has been paid, it will come off your credit in 7 - 10 years. If you still owe money on it and they report monthly that you owe an amount, it can stay indefinitely. If you owe money, but they are not reporting it monthly to the credit agencies, it i will come off in the 7 - 10 years.

What is a bad credit report?

A report about your credit that is bad.

Where can one get a credit history report?

There are many ways one can get their credit history report. Among them are the Annual Credit Report, Free Credit Report, Credit Karma, TransUnion and more.

Where can you get a free personal credit report?

There are several websites where you can get a free credit report. You can also get your credit report from your local credit card company or your accountant can give you a report.

How many years of credit report requests are included on a credit report?

A credit report includes a list of every request for your credit report in the past two years.

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