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When consolidating credit cards is it better to wait until they have zero balances then the credit report will say Closed For Consolidation NOT just Closed By Individual?
Funkypiglet
Remember if you closed these credit cards, your credit score will take a big hit! Its best to just keep the balance open but don't use the cards anymore.
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∙ 16y ago
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Can you reopen a credit card that you closed?
Yes, you can request your issuing credit card company or bank to reopen your credit card that you closed. I did that with one of my credit cards. However, make sure that you had a good record on that particular closed account and that you check if all the balances have been paid before you closed the account in order not to ruin your credit history.
How do you find an old bank that no longer exists?
Before a bank closes, it will notify you of who will be taking over the active accounts there at the bank. Or all accounts will be closed and remaining balances will be returned
Will leaving zero balances on open credit card accounts help your credit score or should they be closed to help your score?
Yes!! As long as they are at zero, you do not need to close them to help your score. Just don't open any new ones!!!
Can a company who closes your account try to collect interest three years after closing the account?
Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.
Does transferring credit card balances affect your credit score?
Transferring the balance doesn't usually affect credit. You actually will be better off doing this for those cards that were closed by the companies, because they will report on your credit as revoked and if you're not paying on the balance, they can still report as delinquent monthly, even if it's closed. So if you can transfer those especially, that is much better b/c the new company simply pays off that balance for you and you can start fresh.
How to Consolidate Debt?
IntroductionDebt consolidation can be a useful tool for people who have debts with more than one creditor. Consolidating debts is a way to combine and refinance them so that the individual has fewer payments to make each month. Often consolidation will also help to lower the overall monthly amount of money the individual pays out toward the overall debt. Many types of debt can be consolidated, including student loan debt and consumer credit card debt.Consolidating Student Loan DebtPeople with student loan debt tend to have numerous loans, often with different lenders and with different interest rates. Federal student loans should only be consolidated through federal loan consolidation programs. They tend to offer better interest rates, as well as more flexible payment options. Even if you have only one federal student loan, it can often be refinanced for a better interest rate.There are a few banks who specialize in consolidating private student loans. The main benefit to consolidating these loans is to reduce the number of individual payments needing to be made each month. Often the terms of private student loan consolidations are similar to the original loan terms � very high or variable interest rates.Consumer Credit Card DebtOne of the easiest ways to consolidate credit card debt is to transfer the outstanding balances to a new card. The new card should offer a low introductory interest rate, and charge a minimal transfer fee. The old card accounts should be closed to help eliminate accruing new debt. Transferring balances from one card to the next can be repeated until the balance is eventually paid off.Alternative Consolidation MethodsTaking out a personal loan or home equity loan can be another way to consolidate debt. Interest rates on personal or home equity loans are often significantly lower than those offered for student loans or credit cards. Thus, paying off student loans or credit cards with a personal or home equity loan can yield a lower interest rate, and one fixed, monthly payment. It is an alternative means of debt consolidation that is certainly worth investigating.
What is meant by school consolidation?
School Consolidation is when one school is closed and the students and faculty are merged and relocated into another school. This is often done to reduce financial expenses for a district.
When an accounting change is reported under the retrospective approach account balances in the general ledger?
are closed out and then updated
What is a closed mill?
In theory, the closed mill perfectly balances all the "inputs and outputs" to the pulping and papermaking process so that the mill reuses, recycles, or cleans all waste materials
Why is zero not closed under the operation of whole numbers?
A set can be closed or not closed, not an individual element, such as zero. Furthermore, closure depends on the operation under consideration.
True or false revenue and expense accounts must be closed out because their balances apply to only one accounting period?
True
Can you reopen a credit card that you closed?
Yes, you can request your issuing credit card company or bank to reopen your credit card that you closed. I did that with one of my credit cards. However, make sure that you had a good record on that particular closed account and that you check if all the balances have been paid before you closed the account in order not to ruin your credit history.
What should you do with accounts with zero balances on your credit report?
Don't close them, leave them open, the more age those trade lines get it's better for your score. Positive closed trade lines report for 10 years from the date closed, open positive trad lines will report forever until they are closed.
Is University financial services in Clearwater FL still open?
No they aren't. Closed for years, since the gov't cracked down on laws, entirely affecting student loan consolidation companies. I used to work there.
How do you find an old bank that no longer exists?
Before a bank closes, it will notify you of who will be taking over the active accounts there at the bank. Or all accounts will be closed and remaining balances will be returned
Whats closed on Columbus Day?
I just read the list in the newspaper and was surprised to see the federal offices and post office are closed. Some schools are too, but that depends on the individual school.
Are revenue and expense accounts temporary?
The balances in all temporary accounts are transferred to the capital or the retained earnings account, leaving the temporary accounts with zero balances. This procedure is necessary to determine a periodic net income (or loss) and prepare books for the next period.
