 My boyfriend and i borrowed £1000 off his stepfather last month? |
| my boyfriend borrowed £1000 off his stepfather last month, it was put on his credit card, he owes nothing on this credit card except the£1000 we borrowed. he is now saying the interest for the one ... |
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 What happens if I pay more then my balance off on my credit card? |
| I had a balance of £450, and transfered £650 to pay it off instead....what happens to the £200 surplus??... |
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 Should I cosign on a car for a friend who is willing to pay me? |
| A close friend asked me to cosign on 70K car for 4 yrs. And she going to pay me 3k on the day that its purchased. But Im a little worried about the deal even thou I really need the money. I know that ... |
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 What trouble would a person be in if they did not pay for a credit card.? |
| My freind has become very ill with a mental illness and is on a very small pension and has offered the company what she can afford and they will not accept it and keep calling her and harassing her.W... |
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 How good of a mortgage rate can someone get for having an excellent credit score? Over 800? |
| I recently got a quote for a 30 yr. fixed rate mortgage of 6.75% and was wondering if that was a good rate considering I have an excellent credit score. I simply thought it would have been lower, and ... |
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 How can I help my GF eliminate her debt??? |
Basically, I just want to know how she can be helped. Paying the monthly min is really high right now. She said it was like $480/month which is really killing her.
I had thought about D... |
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 My brother has a bad credit rating, how long will it take to make it better? |
| He has been paying all his bills and debts on time and not defaulting on payments for the past three months, how long will it take for him to qualify for credit again?... |
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 I owe $709.99 for what? |
| I got a paper from a collection agency today for some... I don't even know what it is or who it is or what they do.. company, saying I owe them $709.99. I have NO IDEA what it is. Never even ... |
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 Can an auto loan actually help your credit if you make all your payments in full and on time? |
| I am currently 19 and a half and I got a credit card the day I turned 18. I pay off all my balances immediately and I would potentially have a perfect credit score if I had a longer credit history. ... |
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 I am being sued by a credit card company for about $2,200 but can't afford to pay them. What should I do? |
| I have a court date on the 14th of this month. I thought they would just write this amount off but was served with court papers today. Any suggestions or advice would be greatly appreciated... THANKS!... |
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 Most useful advice you've ever learned about $$$? |
This question is to fokes young and old, so please anwser? Thank you!
Additional Details
I, personally think the most useful advice i have ever learned about money was to alway balance ... |
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 Where can I get a loan with bad credit and no home to secure the loan? |
| My credit is in bad shape due to the marriage I was in, dose any one out their know any way to get a loan with poor credit and no home to secure the loan. I want to start a new life and get my ... |
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 How the heck do I get out of debt??!!!? |
| I don't know what to do! Any sugestions would help!... |
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 A debt collector called today about a debt included in a bankruptcy 10 years ago. What do I need to do? |
| The collector called when I wasn't home. He answered my husbands questions about what he was calling about. They want me to call back and give the discharge # and lawyer's name. Can I be ... |
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 What helps your credit score more? |
| Paying off collections, or opening a new line of credit? I have medical bills in collections ... but qualify for a credit card. Obviously both would help the best, but it will take me a while to ... |
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 Is it possible to talk to my bank and ask for a lower payment in order to avoid foreclosure ?/? |
what are the odds of my bank giving me a lower payment in order to avoid going into default ??
My payments are $3100 per month, MY retirement is only $2000 per month , the money that I ... |
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Delay | Debts owed haven't dropped off credit reports way past 7 years SOL why? and Waht to do? |
I am helping a friend with this issue. And they inccurred lots of credit card debt back in college and then blew it off. Totally blew it off for over 9 years. When I learned of this I told my friend they won't forget the debt - they sold it to someone. However - I have learned that the debt should drop off the report after 7 years typically. Some debts do not show up as charge off and some show recent activity - like going to a collection agency. What gives on the 7 yr drop off thing then? Do not want to open a can of worms here - and wish to settle debt at some point. Is cleaning up credit report separate to that or not? |
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∞infiniti∞
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Derogatory trade lines should come off your credit reports seven years after last delinquency. It does not matter how many times a debt has been sold and resold. If these debt show up as recent activity, the Junk Debt Buyer (JDB) is violation of the Fair Credit Reporting Act (FCRA). Send letters to both the credit bureaus and the debt collectors informing them that they are in violation of federal law and that you are aware of your rights as a consumer. |
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kate
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If there was any activity (any payments ) during that time the 7 year clock starts from the last activity .
Also , government (student) loans may have different time lines .
Ask the credit agency you got the report from .
Only they know the specific nuances of these debts ,
We do Not have access to all those details .
> |
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Deliah
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More than 1/2 the responses here should never have been made the people making them haven't one single clue what they are talking about in regards to restarting the clock on the 7 year reporting status. |
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Blue October
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run all three credit reports
any descrepancies or items that should not be there, you will contact the agency in writing. they have 30 days to repair.
good luck :) |
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S.N.
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Doesn't sound good.. well what can i say I'm in the exact same situation right now! |
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Landlord
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PJ is right, you are hearing from a bunch of kids that are clueless.
The SOL is in regards to lawsuits, your friend can no longer be sued. They are entitled to try and collect their money, which was stolen from them by your friend, until after your friends death, where they can collect from the estate.
The "drop off" occurs 7 years after pay off. |
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nunya b
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as far as i understood with credit rep i spoke with. its 7 years after NO ACTIVITY. so if the charge was turned over to a collection agency and then sold to a different collector. thats activity. hope that helps and good luck |
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J N
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The belief that credit will drop off after seven years is misleading. A credit card debt might, in fact, remain on your credit report for well over the ten year mark even.The way teh creditors accomplish this is by crediting the account in question $1.00 for instance. That will make it appear that you, the debtor are making an attempt to pay the debt and it will validate the necessity to keep it on your credit report. Another thing they like to do is sell your debt to third parties - usually collection agencies and the like. That is even more dangerous as the debt then starts new at the date of the purchase of your debt. They, in turn, sell it off - usually to one of their subsidiaries - and can keep the debt on your credit report for your entire life.
There are only two ways to truly get them dropped from your credit reports:
1) pay them off and make the company send you a certified copy of the letter of removal to the reporting agency and
2) contact the creditor and FORMALLY dispute the charges. Once you dispute them, then it is on the creditor to form a paper trail which has to lead directly back to you. |
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sunbun
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it can be REPORTED for a period of 7 years...the debt itself may be 10 years old...but wasn't reported for the first 3 years...again key word here is IT CAN BE REPORTED for 7 years....
and anything you owe the government (like a student loan) or the IRS will haunt you forever...you must pay them |
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duce
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If the debt is owed then it still needs to be paid off, either to a creditor or a collection agency that bought the debt |
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loren
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If you stop paying on a credit card, the clock starts ticking that the month after you made the last payment. It stays on your report for 7 years. It can legally stay for 180 days after that, but often does not. It "cannot" be restarted when it is sold to a collection agency. Junk buyers like Midland, Northland, and etc. try this sometimes. You have to check your reports and have it deleted. The date can only start with the original creditor. When SOL'S expire, and there have been no judgements awarded, they can still try and collect, but have no legal recourse. Bottom Feeders buy these for pennies on the dollar and try to collect years down the road. |
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