The "excessive amount owed" is a phrase used to indicate that a particular account is over 30% utilized.
Utilization is the balance of the account divided by the credit line. SO, if you have a $2,000 balance and your credit line is $3,000, your utilization is 67%, which would trigger an "excessive amount owed" in a credit score explanation.
When you check your credit report there are several sections, one is called collections account. You will be able to review collections account directly after judgements, if any are listed on your report.
credit report
This depends only if the creditor originally reported your account to your credit report.
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.
You should dispute and have this consolidated with the correct information. Not all creditors or people looking at the credit report would notice this was the same account.
Yes, excessive inquiries can be removed from your credit report. You can dispute them with the credit bureaus if you believe they are inaccurate or unauthorized. It's recommended to monitor your credit report regularly to ensure its accuracy.
Your credit report, credit rating and credit scores do not reflect any difference in paying the full amount on a credit card account or paying the minimum amount. What is tracked and recorded on your credit report is whether or not you pay the account ON TIME. It is a completely different factor to your "bottom line" in the amount of interest you pay. so consider all the facts before you decide how much to send in.
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.
Refinancing can affect your credit report, and excessive shopping can also hurt it too.
When you check your credit report there are several sections, one is called collections account. You will be able to review collections account directly after judgements, if any are listed on your report.
credit report
This depends only if the creditor originally reported your account to your credit report.
A credit report will show that an account is either active or settled. If the account is settled, it means that it has been paid and is closed.
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.
Yes, if the account type is considered a line of credit it will be calculated into your revolving account balance on your credit report.
A repossession is a significant derogatory mark against your credit. The account appear with a similar status as any collection or charge off account. In repossession, the collateral is often re-sold with the amount received being applied against any remaining amount owing on your loan. If the collateral is sold for less than what you owed, the amount left over, called a "deficiency balance" is still your debt. The creditor can actively collect on this, report it on your credit report and sue you to recover the amount.
You should dispute and have this consolidated with the correct information. Not all creditors or people looking at the credit report would notice this was the same account.