So long as there's a balance on the account - the file will remain open.
When often another company buys a credit card company, they have purchased your account. Most often, it is business as usual, and payments are directed to the new owner of the account.
Yes, all the factors that are used to determine your credit score are important. When any credit account is delinquent, the amount of the delinquency is not AS significant as the fact that it was not paid as agreed, but it is a factor.
What the business owes another company (on credit)
It depends on the terms and conditions of the credit card company. Ask them to send you a copy if you do not have the one that came with your credit card.
A debt will stay on your credit report for seven years after the date that you were originally delinquent on the account. After seven years, this debt is taken off of the account.
It happens and can be disputed. Call you credit card company or credit agencies.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
You can't MAKE a credit card company reopen an account. You can call the credit bureau and request that they change the status to indicate that is was closed by you and not the credit grantor. Or, you can simply put a notation in your credit report stating that the account was closed by you and not the card company.
delinquent credit historyCredit accounts that were paid over 30 late days from the due date. This can be 30, 60, 90+ days. This will affect your credit score but more so if the delinquent was more than two years.
No, a credit card company will not reopen a charged off account. They may choose to grant you a new line of credit, but this would be rare.
You can close a credit card account at any time, regardles of whether there's a balance left on the account. If it's not past due, you simply make regular monthly payments. If it's delinquent and the creditor hasn't already closed the account for you, you'll probably also make monthly payments on the balance. In some cases of severely delinquent accounts, you can agree to pay one final lump sum, usually less than the total amount owed. However, this will appear unfavorably on your credit reports, as will "account closed by credit grantor". Regardless, it's probably a good idea to close the account, particularly if it's delinquent.
Becasue if you are delinquent the creidt card company fears it won't get its money. They will then settle to get soemthing as opposed to nothing. If you are apying something, they will just continue to add on the interest.
Usually when one agency buys out another, they also buy all assets and assume all liabilities (debts). If your account was paid in full at the time of the buy out, then you owe nothing more. If it wasn't, then you would owe only the balance to the second company.
Sure...the new Co has no more or less rights than the seller,
Technically it is a paid, and no longer delinquent account. But it is still considered as a negative account by the FICO scoring model. The bureaus want to show your entire payment history to any lender subscriber to their service. This will still be reported as a negative account for up to seven years.
usually this is because the original lender sold the account to a new lender which takes on the loan/debt, but the paper trail is still left on a persons credit report. If a company goes out of business they also liquidate their assets/accounts to another creditor. It also can be because the person did not pay on the account and it was sold to another creditor or a collection company. The most rare case would be that there is a mistake on a persons credit file and should contact the credit report company.
The business would have to become a client/contributing member of the credit bureau(s).
No, it is illegal, and if you are a victim of this, you can have it removed from your credit report by disputing it with the bureaus. After the statute of limitations is up on any trade line, it can not be placed back on your credit report.
If you are a company and purchasing software for the company then the entry would be a credit to the checking/cash account and then a debit to an expense account.
When your Amazon account is closed, the credit card info that is associated with the account will not be kept by the company and will be deleted also.
Is it for the same account or do you have another account with them?