 Yes loans have offered me a loan? |
| yes loans have offered me a loan for £2000 at £65 a month the interest is an extra £1200 this is the only sort of place were i can get a loan as i have a really bad credit rating . do you think ... |
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 Should I report a family member for credit card fraud & identity theft? |
| I'm debating turning in my Aunt. She is a cleptomaniac and she steals people's identity to get credit cards in their name. She is out of control. I love her but she needs help but I'm ... |
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 I'm trying to get a home loan. Do you have any tips? (considering the following)? |
Theres going to be me and another person, but both of us have no so good credit scores. We're both working on it, and we have about 2000 to put down.
Any tips would be greatly ... |
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 Serious question: What happens when you get married to someone w/ terrible credit? |
| I have excellent credit & I’m getting married to someone w/ terrible credit, tax leans, & such. What will happen to me when we get married will my credit get ruined? Should I not change ... |
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 What would two 18 year olds need to do to rent an apartment with no credit history? Is it possible? |
| What would we have to do to get an apartment? How do we get credit? If our credit isn't bad because we haven't used it, can we still be approved? Would we have to co-sign with a person ... |
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 Using a Credit Card to Pay Off a Credit Card? |
Does anyone know a way to use a credit card to pay off a credit card and in the process no interest is accumulated?
Additional Details
Lets say I have two credit cards. I use one and ... |
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 PayPal, eBay question? |
Does the seller have to pay the PayPal fees if I pay for an auction item with a credit card through PayPal? Are there any other rules on this for eBay?
Additional Details
I have a ... |
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 Should I ditch Capital One, and get a new credit card? |
Hey Guys!
I'm Alex, and really need your advice on this subject. I currently have a Capital One Visa credit card, but seriously thinking about canceling it because I've heard so ... |
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 My husband filed bankruptcy before we got married, I need a new car..........can he cosign for me? |
| I need a new car and I need a cosigner, come to find out, my husband filed for bankruptcy and he didn't even told me until now. The good news is he is about to get discharge, but I need a new ... |
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 Is Debt Settlement a good alternative to bankruptcy? |
| Does Debt Settlement restore your credit in fewer years than bankruptcy if your can't afford debt consolidation?... |
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 Should I get a credit card? |
| I am 19 years old and I want to build my credit up. Would it be a good idea to just get one credit card, a very basic one, and then charge about 50-100 dollars a month on it, and pay it every month. ... |
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 Is a credit card safer than a debit card? |
I know what the difference is in terms in getting credit, but not that is what I'm interested.
I want to know if its safer, for example I've heard that if I make an order using a ... |
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 My parent's credit score isn't good enough for me to buy A new Computer! What do I do? |
| OK, so I'm 14 and we have a family PC that is really crappy. I want a Dell that is only 18 dollars a month, which I can afford. But my dad says his credit score isnt good enough, so I have to ... |
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 Since I paid off 3 credit cards, should I just outright cancel all 3 of them? |
| I have 3 store credit cards that I just paid totally off this week. The only other credit card I have is a Amazon Visa. Since the Visa has a lower intrest rate than the store CC I carry.......it is ... |
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 What is the best credit card for me, I have very little credit? |
| I am trying to get a credit card to start my credit, but so far I hve been denied by Capital One and Chase (Master Card.) I am a full time college student and I don't have a job on the books. I... |
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emac4lyf | Is it true that a debt can dissapear from your credit history after 6yrs? |
Well I was told by my co-worker from her own experience that she owed credit card companies when whe was 18 and never payed for them.. Well as she told me Collection companies kept calling her harrassing her but she still never payed for them.. Now 6 yrs has passed she told me that the debt was clear on her credit record.
Is this true? Can A debt dissapear from your credit history in time? All I know is the only way it will dissapear is if you file bankruptcy.
Please confirm this.. |
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Studly
 |
Amazing.
This is a great example of why Yahoo needs to do something with this system! Why can't we vote and penalize people for poor answers???
Why can't you responders take a few minutes to actually research your answers before responding???? I seem to spend most of my time correcting you morons!
Jim R is the only correct responder.
Lets all open our textbooks to the Fair Credit Reporting Act....Section 605.
Debts can only be reported on your credit reports for 7 years, beginning from the date of the delinquency. PERIOD!
It's not the charge off date....not the last activity date...not the pay off date.
So your friend told you correctly. Just wait the 7 years and then check your credit report to be sure it has been removed, and the collection agency didn't do something illegal, like "re-age" the debt by changing the delinquency date. (This is very common).
If they don't remove it, you can sue them for $1000 in small claims court. Just read the FCRA for info.
See the link below for more good info. |
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Rigger
 |
depending the nature of debt, it could take 7 to 10 years for them to take it off
by that time, the non payment has eaten up your credit score anyway
bankruptcies ussually go away in 7 years |
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sophieb
|
debts are removed when they are paid.
Bankruptcy makes them stay on your report for 7 years for viewers, and 10 years behind the scenes, however certain people can access them forever (like insurance companies, employers, etc.). If you earn money again within a certain period of time then you need to repay those credit cards debts even though they were listed in bankruptcy. While they are still in view on your credit report for 7 years the notation "Bankruptcy" is listed besides them. If you owe money then collectors can always come after you, even for small amounts and can put liens on your assets. Sometimes it will show on the report beside the debt notation that the debt has been "charged off" (by the company because it was too small to collect). If you owe money to companies they very will might not deal with you ever again, so it's good to pay your bills. Rule of thumb is "never burn your bridges".
If you bought something then you owe it and need to pay for it. There's no easy way out. |
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Jan4
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I don't know about 6 years but usually negative information is removed from your credit report in 7 years. For people who file bankruptcy, that will stay on your report for 10 years.
I'm proof that negative information is erased in 7 years. I ordered my free credit report from all 3 CRAs in July. One of the delinquent accounts was already erased from all 3 CRAs! I disputed a Captial One account that should have been removed in May. The dispute was found in my favor and deleted from my credit report. TransUnion prints the date they plan to remove a delinquent account from your report. My last adverse account is scheduled to be removed in October/2006, just a few more weeks from now. |
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Reaper King
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NO. things NEVER disappear from your report after 6-7 years. what happened in her case was that the collectors eventually gave up and never followed through with the claim. it will still be there and she'll know it whenever she tried to get a mortgage or car in the future. right now it is currently dormant and may or may not come back to haunt her.
even if she were to have paid it off it would still be on her report until the day she dies. what usually happens though, assuming she had paid it, would be that it would no longer affect her credit negatively. right now it is still affecting her credit and be sure to tell her she's not free from this debt yet. bit ignorant in thinking that it's wiped completely off your report after time. it's still there and will always be there. one day though it should come back to haunt her. |
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Celeste
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Hooray! For Studly's, Jim's and Jan's good answers!
It's absolutely true that negative marks CAN and WILL disappear after 7 years. I had a cell phone bill from some years back, my credit report said the debt will stop being reported in Feb of '06. When I got my report last month, it was gone!
Definitely read up on the Fair Credit Reporting Act. |
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uncleneal
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most negative records will stay on your credit report for 7 to 10 years, depending on the outcome... |
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Anry
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no |
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Just Curious
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no |
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technical difficulties
 |
nope. i know because i filed for bankruptcy 11 years ago.
you got to try and restart your credit and keep it in the good zone then companies may give you a second chance. |
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Anju D
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no its not true. |
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Jesi
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Nothing goes away from your credit report. It will remain there as an unpaid debt, "past due greater than 120 days" forever. The only way it will change is if she pays it, she gets a charge off (which isn't much better) or can convince a judge she does not owe the debt.
What she may be referring to is that many states make a debt uncollectable if it hasn't been taken to court for enforcement within 2 years of the final action on the account. Filling for bankruptcy results in a chargeoff which stays on your record forever, as does the bankruptcy itself.
Nothing magically "disappears", but over time the negative rating weighs less against the credit score. An unpaid debt however always weighs against her credit score, unless as I noted the companies charged it off. |
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Jim R
 |
A lot of bad information in the other answers. Please read the links I have provided so you can sort through facts vs the heresay and misconceptions.
Here are the basics.
You are looking at 3 different things when you talk about debt.
1) Your credit report.
This holds 7 years worth of basic information, both good and bad. Certain things such as Bankruptcy will show for up to 10 years. For most information, after 7 years it drops off. This is governened by the Fair Debt Collection Act linked below.
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm
2) The statute of limitations for debt collection.
The statute of limitations is the amount of time a collector has to bring suit against you in a court of law and get a judgement. This varies by type of debt and by state law. You can find the basics on most states at the below link.
http://www.fair-debt-collection.com/SOL-by-State.html
3) Your obligation to pay the debt. Your obligation to pay the debt continues until you die (at which time it passes to your estate) or you pay it. Even after the 7 years have passed, it falls off your credit report, and they are no longer legally able to collect a judgement a creditor can continue call you as long as they do not violate the collection standards listed in the Fair Debt Collection Act.
A good site for credit information is linked below.
http://www.creditboards.com/forums/ |
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