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Should you pay a debt after the 7-year period which still shows on your credit report and if so what is the best way to do it if the balance is only 1027?
Wiki User
∙ 17y ago
7 years or not-- what is the statute of limitations for your state?? http://www.bankrate.com/brm/news/cc/2004011 Try and settle if you find that it is going to be around for a while. Collections is now a big business, it might be 7 years old but if it is sent from agency to agency it starts it over again.
Wiki User
∙ 17y ago
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If a credit card is discharged in a bankruptcy should it still show a balance on a credit report?
It will remain on the report for the required length of time and should be marked "included in bankruptcy."
Is it correct for the loan amount of a foreclosed property to appear on a credit report?
what ever the balance was at the time of foreclosure will report on your credit report
Does keeping a balance on your credit card improve your credit report?
Not necessarily. You should have a high credit limit, but not use more than 50% of it. This is what improves your score. As a good rule of thumb, don't get into credit debt. Pay off the balance.
How long does a shortsale show on your credit report?
A shortsale will report as Settled for Less than the Full Balance and will stay on your credit report for 7 years.
Will a judgment be removed from a credit report if it is paid?
No. It will show that you had a judgment on your credit report for up to seven years, but it will show a zero balance.
If a credit card is discharged in a bankruptcy should it still show a balance on a credit report?
It will remain on the report for the required length of time and should be marked "included in bankruptcy."
How do credit entries appear on your credit report after a chapter 7 is discharged and do they disappear from the report or show as 0 balance and indicate their inclusion in a bankruptcy?
The still stay on your credit report the normal length of time for negative credit entries (7 years). After the discharge, they might still show a balance but should also make not of being included in the bankruptcy.
Is it correct for the loan amount of a foreclosed property to appear on a credit report?
what ever the balance was at the time of foreclosure will report on your credit report
Does keeping a balance on your credit card improve your credit report?
Not necessarily. You should have a high credit limit, but not use more than 50% of it. This is what improves your score. As a good rule of thumb, don't get into credit debt. Pay off the balance.
How long does a shortsale show on your credit report?
A shortsale will report as Settled for Less than the Full Balance and will stay on your credit report for 7 years.
What report lists accounts and their balances in which the total debit balances should equal the total credit balances?
Trial Balance
Will a judgment be removed from a credit report if it is paid?
No. It will show that you had a judgment on your credit report for up to seven years, but it will show a zero balance.
Does the balance on a credit card show on your credit report if you are an authorized user on that card?
In a word, yes.
How is it that a credit card that you have had for years isn't on your credit report?
A couple of possibilities. One: Maybe you haven't charged anything. So if there's no balance, there's nothing to report. Two: You could be on a extended grace period. I.E. "six months same as cash"
Where can you obtain a free personal credit report?
Some credit report companies offer a month of trial period, you can use that to get a free credit report. You can also request for free annual credit report through TransUnion, Equifax and Experian.
Can creditors remove their accounts from your credit report?
no, it should stay on your credit report for life.
How can I check my credit report?
You can check your credit report online. You should go to www.experian.com or www.myfico.com or www.equifax.com/ to check your credit report. It is easy to do.
