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If a delinquent account was never reported and it suddenly appears on your credit report 5 or 6 years later are you still responsible for that debt?
A consumer's responsibility for a debt is a separate issue than credit reporting. If you owed a debt 5 or 6 years ago, and never paid it, you still owe it.
There is a statute of limitations for how long a debt can be collected, another for how long a consumer can be sued over a debt and another for how long a debt can show on your credit report.
What else can I help you with?
What is a delinquent account?
A delinquent account is any account that has a past due balance. It will remain in delinquent status until the account has a zero balance.
Is account still considered delinquent on you credit report if it has been paid in full?
Technically it is a paid, and no longer delinquent account. But it is still considered as a negative account by the FICO scoring model. The bureaus want to show your entire payment history to any lender subscriber to their service. This will still be reported as a negative account for up to seven years.
How much time needs to pass before an account becomes delinquent?
An account typically becomes delinquent after a payment is 30 days past due. However, the specific time frame can vary depending on the type of account and the policies of the creditor. For example, credit card accounts may be reported as delinquent after just one missed payment, while loans may have a grace period before delinquency is noted. It's essential to review the terms of the account for precise details.
What is a delinquent bank account?
A bank account is usually considered delinquent if it is overdrawn and the owner has failed to repay the amount owed. Usually an account is labeled "delinquent" after around two consecutive months of non-payment.
How much time needs to pass for an AR account to be considered delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
If an account is reported as delinquent does it matter what the amount is?
Yes, all the factors that are used to determine your credit score are important. When any credit account is delinquent, the amount of the delinquency is not AS significant as the fact that it was not paid as agreed, but it is a factor.
What is a delinquent account?
A delinquent account is any account that has a past due balance. It will remain in delinquent status until the account has a zero balance.
Is account still considered delinquent on you credit report if it has been paid in full?
Technically it is a paid, and no longer delinquent account. But it is still considered as a negative account by the FICO scoring model. The bureaus want to show your entire payment history to any lender subscriber to their service. This will still be reported as a negative account for up to seven years.
How much time needs to pass before an account becomes delinquent?
An account typically becomes delinquent after a payment is 30 days past due. However, the specific time frame can vary depending on the type of account and the policies of the creditor. For example, credit card accounts may be reported as delinquent after just one missed payment, while loans may have a grace period before delinquency is noted. It's essential to review the terms of the account for precise details.
What is a delinquent bank account?
A bank account is usually considered delinquent if it is overdrawn and the owner has failed to repay the amount owed. Usually an account is labeled "delinquent" after around two consecutive months of non-payment.
How much time to pass for an AR account to be delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
How much time need to pass for an AR account to be delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
How much time needs to pass for an account to be considered delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
How much time needed to pass for an AR account to be considered delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
How much time needs to pass for an AR account to be considered delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
How much time need to pass for an AR account to be considered delinquent?
The amount of time required to pass for an AR account to be considered delinquent is 30 days.
Who pays taxes on a joint account?
Both account holders are responsible for paying taxes on a joint account. Each person's share of the income generated from the account is reported on their individual tax returns.
