How long “past due” record remains in credit report

Posted on Apr 11 2012 by

Dear Experian,

How long does a negative payment status of “Paid, Past due 30 days” remain on my credit report? The item in question occurred in March 2006, while I was out of the country. I would really like to get this one potentially negative item off of my credit report.

- DHB

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Tax liens not discharged through bankruptcy

Posted on Mar 28 2012 by

Dear Experian,

I filed bankruptcy in 2002 because of divorce. It was discharged with zero assets and zero liabilities. A 1996 Michigan state tax lien still remains on my credit report after 16 years. I understood it was included in the Chapter 7 bankruptcy in 2002.

- SLV

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Time is necessary before credit score can be calculated

Posted on Mar 28 2012 by

Dear Experian,

My husband and I recently purchased a used car. He makes an annual income of $63,000 and I am a full-time, unemployed student. Because he had zero credit and I had student loans on creating a small credit score, we were only able to sign jointly for the car. He was told being the co-signer would be a great way to start earning credit. He’s tried to get a credit card but continues to be denied for lack of credit. We’ve had the car now for four months and all payments have been on-time. We just ran his credit looking at refinancing the car to a lower interest rate and the account is there, but he still does not have a credit score. Our bank suggested contacting you to see how long it takes before he will begin earning a credit score.

- CJF

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Bankruptcy should not appear in joint account holder’s credit report

Posted on Mar 28 2012 by

Dear Experian,

If there are two people on a loan and one of them files a Chapter 13 bankruptcy, would it report on the other person’s credit that the account is in bankruptcy status since the trustee will be making payments?

- CHS

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Impact on credit scores of missed payments, mortgage modification

Posted on Mar 28 2012 by

Dear Experian,

I’m considering entering into a six month reduced payment plan with my mortgage lender. I understand this will have a negative impact on my credit. Will this have a worse impact than being 30 days late on my mortgage payment?

- STS

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Late payments not deleted immediately after account is paid off

Posted on Mar 14 2012 by

Dear Experian,

I have paid off an account that previously had a late payment mark on my record. Is there any possible way to remove the negative mark on my credit scores, now that the account has been paid off?

- ALT

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“Compromise sale” of home will hurt credit

Posted on Mar 14 2012 by

Dear Experian,

I am active duty military and anticipating a permanent change of station this year. I am considering doing a VA compromise sale on my home in Tucson, as it is underwater. I am current on the payments and am wondering how much a VA comp sale will hurt my credit?

- DRL

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Renewing pre-approved car loan likely will cause hard inquiry

Posted on Mar 14 2012 by

Dear Experian,

I applied and was approved for an auto loan through my credit union, which I have numerous accounts with – mortgage, savings, money markets, and credit cards. Twice I’ve let the preapproved loan expire and asked to have it re-approved. I have not made a decision on a car. Each time I have it re-approved I get a notice that includes my credit score. It’s always really good. Am I harming my credit scores by letting the loan offer expire and resubmitting again? I need to do this for a third time (and this time I plan to use it!), but wondered how this fits into what you’ve told us before about inquiries with “existing creditors.”

- LGD

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Reporting accounts to Experian is probably cost prohibitive for small business

Posted on Mar 14 2012 by

Dear Experian,

How do I become a member to post debts?

- DHR

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Payments should be made to collection agency, not original lender

Posted on Feb 29 2012 by

Dear Experian,

I made payment arrangements to pay a debt to the original credit card company; however, a third party collection agency is now contacting me for payment on the same account. Who should I be making payments to?

- ALT

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Inquiries for multiple car loan applications cannot be removed

Posted on Feb 29 2012 by

Dear Experian,

While looking for a new car the auto dealer shopped the best rate for a loan, generating seven or eight hard credit inquiries, which have dropped my score. Can I have these hard inquiries removed?

- DRL

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Debt can still be collected after it is removed from the credit report

Posted on Feb 29 2012 by

Dear Experian,

Once an item is removed from the report after having been reported for 7-10 years, can the creditor still try to collect the debt? Can the account still collect interest?

- LGD

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Reporting death of a relative

Posted on Feb 29 2012 by

Dear Experian,

How do we notify you of the death of a relative, and how do we obtain a credit report for this relative so we can file probate papers?

- DHR

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The impact of loan modification on credit scores

Posted on Feb 15 2012 by

Dear Experian,

How will a loan modification affect my credit scores? I’ve never been late on my payments and have been approved for a modification without any late payments.

- HBO

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Original account not updated when debt is paid through collection agency

Posted on Feb 15 2012 by

Dear Experian,

When an account is paid off through a collection agency, why doesn’t it show paid in settlement on the account with the original creditor as well as the collection agency account?

- PGR

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Credit scores hurt by lack of revolving accounts

Posted on Feb 15 2012 by

Dear Experian,

My credit report says my score is reduced because I have no revolving credit accounts. Would it help my score to apply for and use a credit card?

- RYN

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Requesting report for minor son to protect from fraud

Posted on Feb 15 2012 by

Dear Experian,

How can I get a copy of my son’s credit report? I believe that his father may have tried to get credit in his name. We are divorced, and he lives in a different state. I just want to protect my child. I received a card for him at my home that we never applied for.

- RNS

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Must have a personal report before disputing information

Posted on Feb 01 2012 by

Dear Experian,

I just had a credit check done by my new landlord, and one company had negative feedback. I tried to dispute it online but it is not recognizing the report number. What can I do next?

- HBO

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Requesting lower credit limits could hurt credit scores

Posted on Feb 01 2012 by

Dear Experian,

If I lower my credit limits on my credit cards, does that lower my credit score? If so, why?

- PGR

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The difference between chapter 7 and chapter 13 bankruptcy

Posted on Feb 01 2012 by

Dear Experian,

What is the difference between chapter 7 and chapter 13 bankruptcies?

- RYN

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Authorized user account impeding son’s home purchase

Posted on Feb 01 2012 by

Dear Experian,

I have a question regarding authorized users. I put my son on my card when he and his sister were traveling in Europe. I forgot about it because they never misused them. Now my son, who has excellent credit, is planning to buy a house, but the lenders are objecting because he has “Authorized user of credit card” on his report. I feel so bad about this and wonder if there is a way to get this removed from his report quickly?

- ATH

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Updating account to show included in bankruptcy

Posted on Jan 18 2012 by

Dear Experian,

I have a company reporting “charge off” on my credit report when it should be a bankruptcy that was done in August 2010. Can you help me understand why it is being reported like this?

- EUB

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What “derogatory” means

Posted on Jan 18 2012 by

Dear Experian,

What does “derogatory” mean when it shows up on my credit reports?

- JUA

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Credit card bills sent to son’s address after he moved out

Posted on Jan 18 2012 by

Dear Experian,

My oldest son recently moved. I have just found out that your agency, without my knowledge, changed the address on my credit cards. My bills should still be coming to me, and his should go to him. I think it is absurd to change all the addresses when someone moves when there are different people and cards involved. I think this program should cease immediately. At the very least, people should be notified that this is happening so they can confirm which cards should have the address changed.

- RKO

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Closed accounts remain part of credit history

Posted on Jan 18 2012 by

Dear Experian,

I printed my and my husband’s credit reports. There are accounts that have been closed for years, but a note says they will remain on the report for years to come. Why do they remain if they have been inactive for years?

- JYS

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