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What should be the minimum amount reported to the Credit Bureau?
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What is the minimum amount to taken to collections?
According to page 2-10 of the Guide to the Federal Credit Bureau Program there is no minimum amount that must be met in order to be reported.
When reviewing a credit card bill which amount must be paid each month?
The minimum payment due - is the amount which must be made each month. You can pay any amount over that - up to the whole balance owing - but you must at least make the minimum payment.
How does credit card minimum payment work?
One can pay the minimum balance, usually a fraction or percentage of the total amount owed. As long as you meet this minimum amount faithfully, the credit card company will absolutely love you to bits. You see, by paying the minimum, you are only filling the pockets of the corporation that issued the card - your balance, if pretty high, could take up to 20 years to pay off by just making the min payment. Best advice on CC's - pay the entire bill when it becomes due ... protect your good credit rating, and build better credit history, too.
How do you remove closed accounts from your credit report?
Disputing information on your credit report... This method is for direct correspondence with the credit bureau. If you find anything inaccurate, incomplete, incorrect, or obsolete, you have the right to dispute that item on your credit report. The credit bureau then has a reasonable time to contact the creditor and have them verify the disputed item. A reasonable amount of time under the Federal Law has been construed to be 20 working days. However, you need to understand that with this type of transaction, it could take from four to eight weeks to receive your reply back. Technically, if the credit bureau does not respond back within 30 days, the incorrect or inaccurate item must be removed. If, after the credit bureau investigates the item and the information is found to be inaccurate or no longer can be verified, the credit bureau must delete the item in question. It should be noted that when a negative item is more than two or three years old, many creditors will not respond to the credit bureau because of lack of records. Therefore, by law, the bureau should remove the item from your report. Since most creditors do not have the space to retain records for a long period of time, there may not be any documentation about your payment history. Understand also that the creditor does not have to provide documentation to the bureau of the disputed item. They simply check various boxes on the statement as to whether you were late, paid on time, etc.
Why is a charge off so bad on a credit report?
A charge off is a term that refers to an amount of debt that is unlikely to be paid back. A charge off is then listed on a person's credit report and also on credit bureau reports. A charge off is a bad thing to have because it can make obtaining credit, either secured or unsecured, much more difficult.
What is the minimum amount to taken to collections?
According to page 2-10 of the Guide to the Federal Credit Bureau Program there is no minimum amount that must be met in order to be reported.
What is the lowest amount that can be reported to credit bureaus?
$0. Credit bureaus do not have a minimum amount reporting requirements.
When I Access My Credit Line What Is The Minimum Amount I Have To Request?
No. There's no minimum amount whenever you transfer cash out of your credit line.
Where is the information on how to contact a credit bureau?
You can find the information on how to contact a credit bureau on various websites like CreditInfoCenter and Bankrate. Both websites offer a great amount of information on how to contact a credit bureau.
Is there a dollar amount for collection agency's to report to the credit bureau?
A collection agency can report you to the credit bureau for any amount of money. There are agencies that will report for amounts under a hundred dollars.
How many points will your credit score go up when you pay a minimum amount due off a credit card?
It depends on other factors, you should pay the credit card ontime. keep in mind that you must reduce the balance of your credit cards to 30% and below of your credit limit. If you have a credit card with a $5,000 limit, your balance reported to the credit bureau should be $1500 and under in order to have a excellent credit score. If you go over this amount it will affect what is called your "utilization rate." Credit score formulas respond favorable to utilization 30% and below. It's a good idea to assess all of your credit cards and align them correctly with this formula. Source Credit Bible by Phil Turner.
Can a creditor report you to the credit bureau for 150?
Yes, they can report you for any amount they are owed.
What pieces of information are required by law to be reported on the credit report by the the credit grantors?
Nothing. There is no federal or state law which requires or compels credit reporting. It is a totally voluntary activity. The Fair Credit Reporting Act dictates that IF information IS reported, it must be correct. The usual and ordinary information that gets reported voluntarily is name of creditor, some type of account #, date opened, date last updated/reported to the bureau, high credit limit (most highest amount of credit used) or original amount of the loan, balance as of the date last reported, terms (which may or may not be your exact payment amount), the rating and 30-60-90 day counters which give an overview if the account has been paid on time. Other information may include the actual late dates, and other notations/statements like "account closed" or "charged off". You can print yourself a copy of the FCRA by following links at www.ftc.gov
How much is the minimum amount that can be transferred in credit transfer service?
10
Why is it unwise to pay minimum credit on your credit card?
Paying only the minimum due on your credit card balance maximizes the amount of interest you will pay to the credit card company. This is why it is better to pay as much of your balance as you can each billing cycle - it saves you money by reducing the amount of interest you pay. Also, depending on the terms of your credit card agreement, paying the minimum can actually make your principal balance increase. The minimum payment may not cover the amount of interest due.
What is the minimum amount of income required for an employer to send the employee a w-2 form?
No minimum. It all must be reported by him and sent to the employee.
What amount to pay on credit card to keep finance charge in control?
minimum
