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If you haven't paid on old debts and start making payments will other creditors see this and try to collect?
Wiki User
∙ 15y ago
What actually happens is that creditors are monitoring your credit report for hits and activity. When you reopen old debt meaning that that old dormant account shows new activity such as a repayment other creditors will pick that up. More importantly than the fact that you have started to pay other creditors is an interest in updated information you may have provided regarding new address, employers, banking info etc you may have given in an attempt to satisfy the creditor that you are trying to repay which is used to locate you and your money in an attempt to collect their debt also.
Wiki User
∙ 15y ago
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How can personal responsibility affect your credit report?
Creditors will often take into account how responsible a person is in making payments on their loans and credit cards.Making payments on time, keeping your credit utilization low and establishing a solid payment history are some actions that can have a positive impact on your score.
How can I consolidate my student loans without going bankrupt?
make the payments a little late, call creditors and tell them your situation, negeotiate the amount that you can afford to pay after adding in your other bills, get an agreement in writing so they cannot go back on their word, and start making payments.
What is a payment reduction?
Beyond the obvious, a reduction in a payment or payments, there are scams and barely legal offers from certain entities offering to reduce your payments. What they fail to disclose is how much it will cost and that they will not be making payments for a year or more, during which time the creditors will start suing you, and you will be clueless as why they are doing that. Consult a good bankruptcy lawyer. If you can do a payment plan and want to do that, fine. All creditors will be treated the same, and none of them can sue you. Plus, no interest or penalties or legal fees will accrue on the loans, either.
Does buying a car improve your credit?
Purchasing a car can promote good credit by establishing a positive payment history. Creditors want to see that a borrower has good debt and a history of making promised payments.
What is Rule 4001a?
You are referring to Rule 4001 of the Federal Rules of Bankruptcy Procedures. Rule 4001 sets forth some of procedural requirements for a motion for relief from stay. When you file bankruptcy, the automatic stay prohibits creditors from taking action to collect the debt without court permission. Sometimes a creditor might move for relief from stay to repossess collateral if you aren't making the payments.
I am make payments for back child support but the govement has a notice to take my tax return can they do this if you have make arrangerment with the state?
Yes - the State may intercept tax refunds to collect the unpaid balance, even if you are making payments on that balance as agreed. see related links
If you file Chapter 7 Bankruptcy can the lien holder on a car already repossessed that you are making payments on still collect?
IF its filed properly,NO. Why not ask your B/K attorney this question??? That's what you pay them for.
Is it illegal to sell a car when your still making payments on finance?
No its perfectly legal and if you are still making payments on it, that increases values.
What does Making money on the front end and making money on the back end mean?
making money on the front end= pay yourself first and then creditors making money on the back end= pay creditors first and whats left over (the backend) is all yours
Can your car be repossessed if it was in an accident and nearly totaled?
If you weren't making your payments yes. It would only be repossessed if you weren't making your payments.
Are orchard bank online payments legal?
Yes, Orchard Bank online payments are legal payments. Making online payments is faster, easier, and often more secure for both the person making the payment and the bank itself.
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
