0
When you are a private party and you hold a private note and deed of trust on a property sale and the people make late payments to you is there a way to make it show on their credit report?
Wiki User
∙ 14y ago
Technically speaking, the answer is yes. Practically speaking, the answer is no. Credit reporting agencies are for-profit companies and do not exist as part of any public service. Therefore, like any other vendor or business partner you must establish a relationship and assume any costs associated with that relationship. Simply put, while as a creditor you may report late payments, in reality the cost, time consumption and legal complexity of establishing a credit reporting relationship with 1 or all 3 of the agencies and making sure your reporting complies with the Fair Credit Reporting Act and any other applicable law would likely stop the idea from being worthwhile to you. Additionlly, if you have not been reporting their payment history prior to their delinquency, you might open yourself up to legal problems if you try now. Make sure you collect any fees allowable under the note.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What is a high credit score rating?
A high credit score rating means someone is in good standing credit wise. They are prompt in payments and always pay payments in full. A good credit score is sought after by many people, because its a mark of a responsible person.
Which hurts your credit worse bankruptcy or late payments?
Late payment will drive your credit score into the ground rapidly. Many people question filing a Bankruptcy even though their credit is shot through late payments on mortgages and other bills. Filing Bankruptcy put all collection activity on hold and your accounts show current and up to date as long as you make your payments on time. Most people are surprised tofine their credit in much better shape after a BK than before with a much higher credit score Late payments can always be corrected, and this will be reflected on your credit file. Bankruptcy, however, will stay on your credit file for six years.
Where can you get loans with a bad credit score?
Sometimes it can be hard to get a loan with a bad credit score. A low credit score means that you are delinquent on payments, so banks might be more hesitant to give you a loan in fear that they may not get their payments. Call banks near you and ask if they work with people who have low credit scores.
Why are aqua cards good for people with bad credit?
Aqua credit cards can be good for people with bad credit because they offer flexible payment dates as well as manageable monthly payments. You can establish good credit history with Aqua cards that will help your overall credit rating.
Where can one find a credit calculator?
One may find a credit card calculator at the site "Credit Canada". The program is available for and allows people to calculate their credit card payments, interest and help reduce debt.
What is the us constitutions stance on people assembling on private property?
the constitution does not give the right to assemble on private property.
If you are enrolled with a debt consolidation program can the credit card companies sue you and take your property?
First off, the credit card company doesn't want your stuff. They won't come and take your TV or whatever you bought. Usually, if you are having a debt consolidation company divide up your payments - the credit card company won't bother you. BUT, sometimes the consolidation companies don't start making the payments when you give them the money. Sometimes, they keep your first and/or second payments as part of their fee. IF they didn't pay, the credit card people can sue you.
What incentive does owning private property give people?
Owning private property allows you to conduct whatever, legal activity, you want. It is a benefit to own private property for a means to conduct your own business, where you want.
What is a high credit score rating?
A high credit score rating means someone is in good standing credit wise. They are prompt in payments and always pay payments in full. A good credit score is sought after by many people, because its a mark of a responsible person.
Why are wealthy people cutting back on payments to their mistresses?
It's all about the credit crunch.
What is it when someone digs ginseng on private property?
Is someone going on someone else's private property and taking property? Someone is digging up a crop. Someone is taking something of value. English has a number of words describing people who steal other people's property.
Why do governments privatize their property?
It isn't their property as pertaining to the USA. It is the property of the people, and as such it is typically put to private auction by a voter referendum.
What is a system that allows people to start their own business?
Private property
Which hurts your credit worse bankruptcy or late payments?
Late payment will drive your credit score into the ground rapidly. Many people question filing a Bankruptcy even though their credit is shot through late payments on mortgages and other bills. Filing Bankruptcy put all collection activity on hold and your accounts show current and up to date as long as you make your payments on time. Most people are surprised tofine their credit in much better shape after a BK than before with a much higher credit score Late payments can always be corrected, and this will be reflected on your credit file. Bankruptcy, however, will stay on your credit file for six years.
Where can you get loans with a bad credit score?
Sometimes it can be hard to get a loan with a bad credit score. A low credit score means that you are delinquent on payments, so banks might be more hesitant to give you a loan in fear that they may not get their payments. Call banks near you and ask if they work with people who have low credit scores.
What is porperty owned by individuals or companies not by the government or the people called?
Private Property
Why are aqua cards good for people with bad credit?
Aqua credit cards can be good for people with bad credit because they offer flexible payment dates as well as manageable monthly payments. You can establish good credit history with Aqua cards that will help your overall credit rating.
