 Credit scores? |
| whats the best way to raise my credit score? and also how does it work? does it matter if i paid off my vehicle and paid off my credit cards??? need some answers!!... |
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 HELP ME PLEASE!!! (dont ignore this question!!!)? |
| ok, i bought an iTunes card, my payment method is none, i entered my code, it worked it says 20$ on the top, everytime i try to buy something, it says please edit your payment info, i dont have a ... |
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 What should I do if a collection agency won't accept my payments? |
| Okay, so my husband has a debt with a collection agency. We want to pay off the debt and when I called I told them we could pay $100 a month. They said that they would not accept this because it ... |
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 I have $11,000 dollars in credit card debt spread over 4 different credit cards.? |
| I have moved to Hong Kong where I will be for at least 5 years. My company pays for my apartment and I will never need a car so credit isn't important to me. I was planning on waiting for my end ... |
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 Is it even worth it to continue paying your credit cards on time if you're in my situation? HELP! |
| Ok, so I have posted several questions in regards to my credit card debt and am still very unsure of what direction to take...I have about $30,000 in CC debt with two companies..Citi & Chase...... |
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 I'm a college student and i want to get a credit card to establish credit. Which one do you suggest i get? |
| Should i get one for college students or just a regular one, if they give it to me. i heard capital one will give them to pratically anyone! and like what apr is toooo HIGH?... |
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 Credit Reports and Scores?? |
| Does anyone know what website is the best to get your FREE credit score and report other than free credit report.com because they are a big scam. I need to check my credit in a bad way, but not have ... |
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 Filed Ch 7 Bankruptcy- How long till I can buy a house a a decent interest rate? |
| My Ch 7 Bankruptcy was discharged in late November 07. how long till my credit is decent enough to purchase a house at a decent interest rate? assuming all bills are paid on time from here on out...??... |
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| What are some good ways to turn around bad credit? I can't afford to pay the bills that I owe right now!? |
| But I was hoping to find some ways of building my credit even though it is already bad. I am hoping to eventually pay the debt that I owe, but what can I do to be helping my credit in the meantime....... |
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| I want to buy a house my credit score is almost 700, income is only 25000 year and I have a 400 car payment? |
| Is there anyway I can get a home loan? I only want to borrow around 50000-60000. Other than my car payment I do have some student loan debt. My plans are to refinance my car or downgrade before ... |
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 Is it legal for a credit card company to charge you fees before you've even activated your card? |
| I opened a credit card account and somehow missed the small print, where they said there was a $39.00 activation fee and a $60 annual fee. I realized my mistake when they sent me my card, so I didn&#... |
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 Is there anything types of payment cards like a credit card for 14 year olds.? |
| is there anything that i can get in the uk. i am nearly 15. i want to use it to buy things off the net. please give detail and web links if you can.... |
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 Is is legal to sell a bad debt to a collection company and they report the same debt on your credit report? |
| I had a credit card I defaulted on and they sold it to a collection company and the collection company put it on my credit report as well as the credit card. company.... |
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frenchyfrenchykyss | How long can a collection agency pursue a debt? |
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dougzinboston
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A collection agency will pursue a debt as long as they feel it is profitable for them. If they feel that your debt is not going to be collected, or is going to cost them more than they are willing to expend on your account, they will sell it to another agency for a percentage of its value.
As long as the debt is actively pursued by a reporting agency, it will show on your report and the former collection agencies holding your debt will sit on your report for 7 years.
This will go on until one of the agencies decides it is in their best interest to take you to court and lawfully force you to pay the debts. |
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luciousgreeneyedlady
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until they get your money! They don't give up. |
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AB
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Depends upon your state's statute of limitations. Go to http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml to read up. Pursuing a debt and having the debt on your credit report are two different things. A collection account will remain on your report for 7 years no matter where you live; however, it will depend upon the state on how long they have to collect the debt. |
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Shari
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For a looooooooog time! They never give up. I had some after me for years for medical bills I just can't afford to pay. They don't get it. I will be filing BR pretty soon. |
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Booboo
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either by garnishing your wages or at the end of the year when your taxes are due, they usually go for your wages as suppost to taxes only because people can control in a way if they get a return or if they owe to the irs, good luck |
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dma_10014
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A collection agency can pursue the debt pretty much forever, unless they take you to court and lose.
So, the question now is how can they lose the case, relative to a time limit?
There are limits to how long a creditor can legally collect on a debt. The time limits vary by type. They also vary by what state you are living in. If you were living in two different states at different points after you stopped paying on the debt, and if one state has a greater time limit, you may find yourself having to follow the one with the greater time limit.
My state (New York) has a six year limit on collecting on a credit card account that has defaulted (no longer paid). This limit is called the Statute of Limitations.
This statute of limitations doesn't mean that the collection can't sue me in ten years. They can! But, if they do, I can go to court and simply assert the truth: the statute of limitations passed. If the collection agency goes with the truth, they will have to admit that I stopped paying ten years ago. They would lose the case and THEN they would be prevented from being it up again. Well, they can bring it up again, but they would still lose.
The thing about suing is that anyone can pretty much sue anyone. Whether or not they win is another thing entirely.
The statute of limitations doesn't prevent being sued. It just offers a legal and valid defense.
So, to answer your question, they can pursue it forever...unless they take you to court and lose.
The seven year period for a negative mark on your credit report doesn't mean that this is the limit for collection. The limits are the statutes of limitations.
The link shows the statute of limitations by state and by what type of debt. |
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nebula7693
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A collection agency can pursue a debt until one of four conditions are satisfied.
1: You pay the debt.
2: They no longer wish to pursue it. This will usually happen when they have decided it is no longer profitable for them or they have put more money into trying to collect the debt than they will receive from payment.
3: You declare bankruptcy and declare that debt in your bankruptcy.
4: The originating company writes off the debt and is paid for the loss by their insurance company. At this point the company no longer has a legal claim to your debt. This is what usually happens with the debt but the company and the collection agency will not tell you if this has happened because they want to collect the money from you. It is illegal for them to do this but since there is no oversite on this aspect of collections they usually get away it if they continue to attempt collection. As a general rule if the debt is more than five years, it is likely that the debt has been written off.
If you have any questions regarding your credit issues you may email me at nebula7693@yahoo.com |
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in +HIM+
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They can pursue a debt as long as you owe it. After 7 years, it does fall off your credit report, but you are still legally responsible until it is satisfied. |
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Anthony P
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It takes a long time. The best thing to do is pay it off as soon as you can. They will call you day and night until it is payed off. What they do is the company will sell it to an agency to collect the debt if they are unsuccessful after a while it will go to another then another and so on.... |
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