If you pay a charged-off account does it stay on your credit report for another seven years?
It will probably still show up as a late pay, but that is far better than a write-off. Before you pay it off tell them that you got into a little of a financial bind and couldn't make payments but now that you can you would like them to remove any indication that you paid late in exchange for payment in full. Try it, it might work. The Fair Credit Reporting Act establishes a method by which the length of time derogatory information, such as charge offs, can show on your credit report. The beginning is the month/year you last paid the account on-time immediately prior to its' default. Nothing can LEGALLY re-set this date. So, whether you pay it, dispute it, or talk to the creditor about it, the "date of last payment" never changes. The account will be shielded from view 7 years after this DOLP. State law establishes a different time period during which a consumer can be sued to recover bad debts. This time period, called the Statute of Limitations, varies from state to state and by the type of debt. There are certain actions (under various state laws), like making payment arrangements, which can reset this date.
If an account was charged off and removed from your credit report after 7 years can another company buy the account and place it back on your credit report?
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
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…
How long does it take for an unpaid bill take to be taken off your credit report after it has been paid?
How do you find out what financial institution issued a credit card when the account number is not on your credit report?
Is a financial association created on your credit report when two people apply for any type of joint financial account?
What does it mean when your credit report states that you have a paid closed collection account on you credit report?
In a word: No, the account will not stay on for another 7 years. All negative information regarding the account must be removed 7 years from the date of the ORIGIONAL delinquincy. For example, if you were late on a credit card in January, 2002, and was delequint every month after to the point that it was turned over to collections, ALL derrogatory information must be deleted seven years after January, 2002. On occassion, companies…
Can a collection agency continue to report a collection account to the credit bureau after the account is sold to another collection agency?
How can you make the credit card company reopen an account and remove 'closed by credit grantor' from your credit report?
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.
How does a vehicle repossession affect your credit if everything else in your credit report is good?
If a creditor reports an upaid bill on your credit then sells the account to another creditor can they report the same unpaid bill on your credit?
Anytime as long as you have a relationship or some type of account with them, a bank will normally do what is call a soft pull which doesn't affect your score and will only do a hard pull if you initiate it by requesting to open another account with them, or asking for a credit line increase or a new line of credit.
I have a collection for a doctor's bill from 2003 on my credit report I just noticed that they reposted the same bill on my credit report and changed the date to 2008. Can they do that?
If you have an outstanding child support debt on your credit report what does it mean when your credit report states that this account will be positive in the year 2010?
Will closing your checking and saving accounts to open checking and savings accounts with another bank affect your credit rating?
If you have an account that went to a collection agency however you paid it in full how long does it take for that collection account to be removed from your credit report?
Can an unpaid overdraft on a checking account be sent to a collection agency and appear on your credit report?
Here is advice: * Banks have their own type of credit reporting systems called chexsyems. if the overdraft was over $200 most banks will not let you open another account for atleast 3 years. now as far as this overdraft showing up on your credit report that will not be a problem. You can read more on this if you type in chexsystems in a search engine. * Yes, if you have an overdraft from…
Will an eighteen year old college student is an authorized User on moms credit cards will he have a credit report?
A credit report is a list of your credit accounts with different creditors stating your payment history with them. A credit score is made up of different items on your credit report using an algorithm including payment history, credit length, debt to limit ratio, credit types, and inquiries. A FICO credit report has 5 components that are used to determine your credit score: Payment history Percentage of available credit in use Length of time (how…
If a person was sued many years ago for child support but recently the arrears were suspended by the court can this be removed from their credit report by going through a dispute process?
I believe credit accounts are not removied from your credit report unless they are not your accounts (fraud) to being with. The credit bureaus should be able to notate that the account has been suspended, cleared, or paid in full with regards to that account. You can also place a message of your own in your credit report that anyone can see when they pull your credit. Also, accounts are not deleted from your credit…
A charged off account is similar to a collection on your credit report. The creditor has written off the debt owed and closed the account. The debt is still valid though and can be collected on. The charge off will lower your credit score unless removed. You can dispute a charge off and this give the credit bureaus 30 days to verify the charge off or it must be removed from your credit report.
It means that the particular item on the credit report has insufficient reporting information from the creditor and therefore cannot be rated at that particular time. IUR might stand for Information un-rated. This could apply to a new account or an account that does not report information to the particular credit bureau.
It depends on what you mean. If you have erroneous information on your credit report, contact the credit reporting agency and tell them you want to file a dispute. If you're referring to a negative credit account or report that is in fact accurate, you usually cannot have that removed. Entries on your credit report are removed automatically after 7-10 years depending on what it is.
Creditors may report any time there is activity on your account, if a credit report is pulled [for a credit application] or if payments are made late. Capital One may report every month whereas a smaller department store card may not report at all. It solely depends on the creditor on how often the credit report is updated.
If you owe money to collections and you pay it can you get these items removed from your credit report?
It is always a good policy to attempt this. But whether or not you succeed in getting a paid collection account removed from your credit report is totally within the discretion of the creditor. There is no law that requires or compels credit reporting. The Fair Credit Reporting Act states that IF an account is reported, then it must be correct. Therefore, collection agencies and creditors usually will tell a consumer that they "must" by…
If you have an unpaid credit card in another country what conditions must apply before they can they report the debt to your US credit report?
Personal checking accounts will not show up on your credit report. If you have a Chase credit card, you will see some information about the card like reported balance, status, and maybe the current APR on your report, but you won't see any information about to the checking account you use to pay the bill...