About 10 years. I have the same thing. It involves the overall rating of your credit report, good or bad. It shows other agencies along with employers on how well you are at handling your own finances, and your credit worthiness.
Balance amount and paid status have nothing to do with how long accounts show on your credit report.
If this is a positive account, with nothing derogatory listed, it can show as long as 10 to 12 years. Any derogatory information triggers a 7-year countdown from the date of last activity. So, if your question pertains to a collection or charged off account, it will show on your credit for 7 years (and possibly 180 days more) from its DLA.
There is certain information exempt from that 7 year rule. Unpaid tax liens, student loans and child support obligations have no limitation on how long they can be shown. Chapter 7 bankruptcy listings have a 10 year time frame.
The law also provides exclusions to these time limits. It is possible, although rare, for a credit grantor, insurer, or employer to pull your credit and get all the information in your file, even that normally shielded after 7 years.
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.
A contra account balance is a debit balance account. It is a general ledger account that has a balance that is an exact opposite of a normal balance. Contra accounts are generally used to report the gross and the net amount of an organization.
If the error is showing on all 3 then yes, you have to dispute to each individual credit bureau. If it is only showing on 2, then you just dispute the 2 it is showing on.
Yes you can. You can dispute it through each credit bureau by showing them proof of the right name.
Yes they can and they probably will. if you are concerned about your credit profile, it would not be a good idea to stop paying.
what ever the balance was at the time of foreclosure will report on your credit report
Your paid off car may not be showing on your credit report because auto loans are not always reported to credit bureaus. If your lender did not report the loan, it will not appear on your credit report.
To find out if the closed auto loan is showing on your credit report, you can request a copy of your credit report from one of the major credit bureaus - Equifax, Experian, or TransUnion. The closed auto loan should be listed under the accounts section of your credit report.
Your parents' address may be showing up on your credit report if you have used it as a previous address or if you have a joint account with them. It's important to update your address with the credit bureaus to ensure accuracy on your report.
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.
yes it does i have the same problem and i checked my credit report and it was not as good because of that. they only give you a limit of so much and when you owe them more then what they gave you then that means you went over the credit limit.
Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.
They are legally obligated to update your credit report when the account is paid off completely. In the meanwhile, if you have been denied credit because the balance is showing higher than it should be, can you request a copy of your credit report (and it will be free) and can dispute the balance. The offending company will have 30 days to answer your dispute or it will be removed from your record.
The foreclosure will be on your credit report indefinitely.
That is up to the discretion of the organization to which you owe the money.
Your auto loan may not be showing on your credit report because the lender has not reported it to the credit bureaus yet. It's important to contact the lender to ensure they are reporting your loan information accurately.
A shortsale will report as Settled for Less than the Full Balance and will stay on your credit report for 7 years.