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What does it mean when an unpaid account is closed on your credit report?
that it has been closed by either you or the company- either way it shows as a negative in your report
Can 30-60 days late payment history be disputed or removed from your credit report after the account has been closed?
yes
How long does a collector have to report that a collection account has been closed and or settled?
Typically these types of actions can be seen on your credit within 30-60 days. There are no laws or rules that requires a credit reporter to immediately post "closed" or "settled" to an individuals credit. Most just report data to the credit bureaus once monthly.
How to close an account that is showing open on your credit report?
If the account is still open, then contact the company that owns the account. If the account has been closed, then contact the bureau and dispute. The FCRA mandates penalties for those businesses which falsely report data when asked to correct it.
Why does credit information remain on your credit report even though the account has been closed for years?
It's all part of your credit history..the good the bad and the ugly. I longer history is generally good.
What does settled mean on 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.
What does it mean when an unpaid account is closed on your credit report?
that it has been closed by either you or the company- either way it shows as a negative in your report
Can 30-60 days late payment history be disputed or removed from your credit report after the account has been closed?
yes
How long does a collector have to report that a collection account has been closed and or settled?
Typically these types of actions can be seen on your credit within 30-60 days. There are no laws or rules that requires a credit reporter to immediately post "closed" or "settled" to an individuals credit. Most just report data to the credit bureaus once monthly.
How to close an account that is showing open on your credit report?
If the account is still open, then contact the company that owns the account. If the account has been closed, then contact the bureau and dispute. The FCRA mandates penalties for those businesses which falsely report data when asked to correct it.
Why does credit information remain on your credit report even though the account has been closed for years?
It's all part of your credit history..the good the bad and the ugly. I longer history is generally good.
How do you find out about old accounts?
A great place to start is your credit report. It will generally list all credit accounts you have had - even if they have been closed - along with the name and address of the account holder.
Will it have a negative effect on the report if an account has been closed by the credit grantor because the card has never been used?
It may. I have heard rumors that the statement "closed by credit grantor" is considered negative and has an impact on credit scores. "Closed by consumer" is considered a positive and does not impact scores. This is unconfirmed and certainly not in writing outside of the scoring companies.
Should you re-open a previously closed credit card account?
No. If the account has been closed, you would need to re-apply if you wanted an account.
What is the difference between 'paid' and 'closed' on a credit report?
The general rule is "paid" means the account has been, well, "paid." Closed means the account has been closed or written off by the original creditor. This could mean they gave it up as being uncollectable or they have sent it to a collection agency or sold it to a third party creditor.
Can you re-open a credit card once closed?
Credit card companies will not reopen a credit card account once it has been closed. The company will issue a new credit card and new account if it wishes to do business with the person.
How can I determine if my credit card has been closed?
To determine if your credit card has been closed, you can check your online account, contact the credit card issuer's customer service, or look for a notification from the issuer.
