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NO! When reporting accounts the creditor/collections company, by law, must report it from the date of last activity. If no payments have been made on the charged-off account it should be disputed with both the CRA and the creditor. What they have done is illegal. Here is a different opinion from another FAQ Farmer: I think that response is well, not wrong, but not on point and confusing. A charged off debt is not a forgiven debt. It is only an accounting acknolwegement by the one owed that the amount due the lender is probably not going to be received. It is however still owed. In the question above it is a red herring. Hence, I read the question as the person has an outstanding account and made a payment a year late. In keeping with the first response, this payment is reported as being what it is: One year since last payment (or late). The accounting (short of forgiving it) on the lenders books makes no difference.
What else can I help you with?
If you have already made an agreement with collection agency can you later renegotiate a lower payment amount due to income changes?
You can try, however if they agree then this will change the date on your credit report. Meaning: It will stay on your credit report even longer.
Has a scammer deposited money into your account?
If a scammer has deposited money into your account, it is likely part of a fraudulent scheme. It is important to report this to your bank immediately and not to use or withdraw the money, as it may be reversed later.
If you make one mortgage payment past 30 days what are the consequences?
In most states, there are no foreclosure ramifications. You will in most cases have a 30 day later reported on your credit report. Additionally, you will have a late fee equal to 5% of your mortgage payment.
When you use a debit card you pay no or pay later?
When a debit card is used the payment is immediate.The Account linked to the card is debited online for the necessary amount.
Will paying off a credit card account closed by the grantor raise your credit score?
No but if you pay it off before it becomes delinquient it won't hurt it either. WRONG! speaking from experience, yes. if the account is NOT charged-off, but listed as CLOSED, it will raise your score if you lower or pay off the balance. I have a closed (NOT charged-off) CC that had a balance of 2400 and I made a payment of 1700. once posted to my reports, they were raised an average of 37 points. A few weeks later i paid off another closed CC, it was a small payment of 183 which satisfied the account (zero balance). Once posted, 17point increase! I pay close attention to my reports and use several monitoring websites, so i know there were no other changes that contributed to the increase other than the payments mentioned. people on the net are correct about paying off/down a CHARGED-OFF (collections) account will not raise your score. But, a closed account is completely different! Hope this helps
Can a negative balance of a checking account that was later charged off in a house at a credit union be reported on a credit report?
Yes. You violated the terms of the financial agreement and as such are demonstrating your irresponsibility as a credit risk. That is the purpose of credit reports to a credit bureau. It exists to report your history as a credit-worthy individual.
In Oregon if you make a payment on your loan can they repossess 2 weeks later if the payment only brings the account from 90 to 30 days past due?
READ your contract. IF you are in default, they can repossess.
What is account sales invoice?
An account sales invoice is a document issued by a seller to a buyer, detailing the goods or services provided on credit. It specifies the amount owed, payment terms, and due date, allowing the buyer to settle the account later. This type of invoice is commonly used in business transactions where immediate payment is not required. It serves as a formal request for payment and a record of the sale for both parties.
If you have already made an agreement with collection agency can you later renegotiate a lower payment amount due to income changes?
You can try, however if they agree then this will change the date on your credit report. Meaning: It will stay on your credit report even longer.
Has a scammer deposited money into your account?
If a scammer has deposited money into your account, it is likely part of a fraudulent scheme. It is important to report this to your bank immediately and not to use or withdraw the money, as it may be reversed later.
If you make one mortgage payment past 30 days what are the consequences?
In most states, there are no foreclosure ramifications. You will in most cases have a 30 day later reported on your credit report. Additionally, you will have a late fee equal to 5% of your mortgage payment.
When you use a debit card you pay no or pay later?
When a debit card is used the payment is immediate.The Account linked to the card is debited online for the necessary amount.
Can you be charged with hit and run by victim if not charged at the scene?
Yes, it is possible for the victim of a hit and run incident to report the incident later, which could result in charges being filed against the perpetrator. The victim can report the incident to the police, who may then investigate and pursue criminal charges against the individual responsible for the hit and run.
What is payment term open account 50 days?
An "open account" payment term means that goods are shipped and delivered before payment is due, allowing the buyer to pay at a later date. In this case, a term of "50 days" indicates that the buyer has 50 days from the invoice date to make the payment. This arrangement is typically used in international trade and is favorable for buyers, as it provides them with time to sell the goods before settling the payment. However, it carries a higher risk for sellers since they extend credit without immediate payment.
If a credit union makes a deposit into your account in error but does not correct until 12 days later are you responsible for the money you unknowingly spent?
Legally you will be responsible as the payment was an error.,
Will paying off a credit card account closed by the grantor raise your credit score?
No but if you pay it off before it becomes delinquient it won't hurt it either. WRONG! speaking from experience, yes. if the account is NOT charged-off, but listed as CLOSED, it will raise your score if you lower or pay off the balance. I have a closed (NOT charged-off) CC that had a balance of 2400 and I made a payment of 1700. once posted to my reports, they were raised an average of 37 points. A few weeks later i paid off another closed CC, it was a small payment of 183 which satisfied the account (zero balance). Once posted, 17point increase! I pay close attention to my reports and use several monitoring websites, so i know there were no other changes that contributed to the increase other than the payments mentioned. people on the net are correct about paying off/down a CHARGED-OFF (collections) account will not raise your score. But, a closed account is completely different! Hope this helps
What is a remittance slip?
It is a financial document that is usually sent to a customer of a supplier. It is usually a tear-off part on a statement of accounts. It helps the both the customer and the supplier, it makes it clear which invoices the customer are paying, for example by putting ticks next to them. They can be enclosed with the payment. If the customer did not make it clear what invoice they are paying then later invoices will be paid which would be bad because these have the most trade credit on (the time they have to pay it) the customer wants to pay the earliest invoice so that it is not overdue and they are not charged interest. This will also please the customer. Hope that helped!
