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How many times you can be granted a forbearance and if it is granted will it show up on your credit report as having an overdue balance of 0?
It depends on the type of loan, your servicer or lender, and the type of forebearance being requested. Terms of forebearances can be set at any term you request up to the limits of the servicer or lender, but they are limited to either 6 or 12 months term maximums (again depending on the above mentioned criteria). You can ask for additional forebearances, between payments or consecutively. However, there are cumulative maximums that will again depend on the criteria mentioned above. Most are 36 months, but some are as short as 18 and 24 months of cumulative time "in forbearance". Also, some will ask that you make payments at least once (maybe even for up to 6 months) in between forbearance terms, thus not allowing you to take all of your allotted terms consecutively.
What else can I help you with?
Do forbearance payment affect credit score?
Do forbearance payment affect credit score? Also, if your lenders agree to a short sale and you have not been deliquent on your payments but the lender granted you a forbearance, will your credit score be affected?
What is the opening balance that is normally granted when someone first applies for a credit card?
Depends on your current FICO score and credit history.
How long will a forbearance agreement show on credit report?
I'm unsure.
How long does it take for a forbearance to be entered on your credit report?
It can take a couple weeks or longer. You should contact the person who issued the forbearance if you are concerned about this. Sometimes things don't get entered on your credit report and it is your responsibility to make sure it does.
How does a student loan forbearance affect your credit score?
A loan in forbearance permits a student to temporarily postpone their federal student loan payments. Or, the forbearance temporarily reduces the amount the student pays. Your students loans may show up on your credit report while in repayment status or out of deferment.
Is it illegal to put overdue medical bills on a credit report?
No. Overdue medical bills, like other debts incurred, can appear on a person's credit report, especially if they go into collections.
Does it matter credit wise after a car is repossessed whether you pay off the balance immediately or let bank auction and settle the difference?
Nope and it doesn't matter if it is a voluntary or involuntary repossion. Once the first payment is overdue by 30 days it automatically goes on you credit report as an overdue payment and then once the car is reposessed it goes on your credit and makes NO note to why it was taken back or whether you gave it back and even if you pay the amount off it is still on your credit for 7 years
How can a person get a credit card with no income?
They can't ! A credit card is issued in recognition that the card-holder is able to repay any balance owing. If a person has no regular income - they are extremely unlikely to be granted a credit card !
What credit card can you get with no job or checking account?
None. Even secured cards require a specified balance in a checking account, before they are granted.
Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
Can a minor hurt their credit score with an overdue library fee?
No. A library fine is not reported to credit agencies. Late payments on a credit card or mortgage are reported to credit agencies.
Does forbearance on student loans affect individual credit?
I was told by my student loan company (a direct loan from the U.S. govt) last year that even if I did not apply for a forbearance and still did not make a payment, the company would not report to the credit card companies until the payment was 90 days late.
