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If you voluntarily turn in a car that's has never reported on your credit file can they file it against you once you turn it in?
Wiki User
∙ 16y ago
I am no attorney and laws on this subject differ widely from state to state. However, from personal experience I can tell you that, in general they can and they will. Some states do not allow a company to actually PHYSICALLY repossess your vehicle, but they won't tell you that when they 'come to get it'. Generally, they will list it on your credit file as 'charged off', meaning you didn't pay the balance, they couldn't get you to pay the balance, and they took a loss. They can claim this on their multi-million dollar tax write-off and then turn around and sell it for another profit. This is why I haven't set foot in a Sears store since 1981. Check your state laws carefully and then decide (a) if you want to voluntarily release it, (b) if you want to get an attorney (c) if you want to sell it yourself. The one with the most gold makes the rules unfortunately, and no one ever said life was fair. Good luck.
Wiki User
∙ 16y ago
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If a landlord files suit against you and you contest it will the suit be reported to the credit bureaus or will it be reported as a judgment?
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Can a newspaper subscription go onto your credit report if it is only about 25 dollars and I never gave them my social security and I never agreed to continue with their service?
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If the judgment was reported to the credit bureaus, the tenant needs to pay it, get the judgment amended to zero by the court, and send that to the credit bureaus. However, the fact that there was a case can never be erased.
If you filed for bankruptcy and then changed your mind and never went through with it and it is showing up on your credit report how do you get it removed?
A dismissed bankruptcy whether voluntarily or done by the bankruptcy court will remain on a CR for the required 7 years.
If a dealer gives you inhouse financing and later repossesses the car will it be reported on your credit?
That depends on the dealer. Some tote-a-note lots never even pull a CR, much less report to them. They know their customers have bad credit when they walk in the door sooo, why worry about credit bureaus??
Can a debt collector report to a CRA a debt which was never reported by the original creditor of the debt?
The answer to your question is Yes, they can report a debt that was never origionally reported to the CRAs. This is most common with medical expenses. You may have an outstanding debt to a doctor's office for example, and though Doctors do not typically report debts to a CRA, if they sell your outstanding debt to a collection agency, they absolutly have the right to report it to your credit report. So, in a word, yes, it is legal, and is actually quite common. Hope this helps! In fact it is against the Fair Debt Collection Practices Act for a medical debt to be reported to the credit agency, but it doesn't apply if they sell the debt to a third party collection agency. Nice way for them to get around that.
How often should your credit score change?
Your credit score is never really static. It is calculated each time there is an inquiry, using the contents of your file at the time. The contents of your file are subject to updates at any time, as activity in your relevant accounts is reported.
Is someone cosigns for you does it help your credit or theirs if payments are made on time?
It will be reported to the credit bureaus under both names, but will have a greater effect on the primary borrower's report. If payments are made on time, it will never indicate which party actually made the payment.
What date did women get drafted into the military?
Women were never drafted, they joined voluntarily.
I have paid my default in full can i have it remove from my credit file?
No, it will show on your credit report as a paid collection/judgement and will fall off of your credit report in 7 years. After you pay the debt keep all receipts and check your credit report in about 60 days to make sure they reported it as paid. Many collection companies never report it paid.
What is earnings credit term?
Earnings Credit is a type of credit offered by the financial institution to its customers, based on the average balance maintained in their accounts. Earnings Credit is a Soft Dollar Credit and is used to offset various charges in an invoice. Earnings Credit is never offered directly to the customer, but is always adjusted against the customer's charges.
Can some with no money be sued?
yes, all you can do is get a judgment against them should you prevail, you may never see a penny, but the judgment will damage their credit and reputation
