Posts Tagged ‘ bad debt ’

Alarm company can turn past due account over to collections

Dear Experian, I have a dispute with a security alarm company. They have implied a contract extension on a policy that I did not approve. I have not made a payment on the policy since November 2012 and am concerned that they may eventually turn the balance over to collections, thus negatively affecting my credit, though they have not threatened such action yet. Is there an arrangement I can make with the credit reporting companies that can prevent harm to my credit in the event that issues with this company escalate? That is, can I prevent them from damaging my credit history by reporting this unpaid balance? Or is my only option to pay them? - JSS[ READ MORE ]

Intentional late payments for debt settlement will damage credit scores

Dear Experian, I am considering signing up with a debt settlement company. They told me that in order for them to negotiate the best deal with my creditors I must refrain from paying my bills for more than 90 days. Won’t this negatively affect my scores? - TND[ READ MORE ]

The difference between Chapter 13 bankruptcy and Chapter 7 bankruptcy

Dear Experian, What is the main difference between a Chapter 13 bankruptcy and a Chapter 7 bankruptcy? Also, how do the two types affect your credit rating differently? - SRD[ READ MORE ]

Paying off closed or charged off accounts

Dear Experian, Does paying off a closed or charged off account raise your credit scores? -TYC[ READ MORE ]

New spouse’s old debt won’t hurt your credit scores

Dear Experian, If I have a very good credit score and I marry someone with a bad credit score and previous debt, does that affect my credit score? - DTR[ READ MORE ]

“Foreclosure” worse than “paid for less than full balance” but not much

Dear Experian, Which has a more negative effect on my credit score, "Account Paid In Full For Less Than the Full Balance" or "Foreclosure"? - ZPT[ READ MORE ]

It is possible to owe debts not on your credit report

Dear Experian, Everything shows on the credit report right? Every debt you owe? I currently have two debt collectors harassing me claiming I owe them money and threatening to sue me. But when I look on my report, there is nothing that is open against me. How do I get them to send me actual proof that I owe? - JYG[ READ MORE ]

Listed as authorized user on mother’s delinquent credit card

Dear Experian, I was an authorized user under my mom's credit card. I never used the card. I only "piggybacked" so I could start a credit history. She was unable to pay her card, and I found out today that her debt was charged off in February 2011. I found out about it because I saw it in my credit report. How badly does this affect me? I want to ask to get that debt off of my report. If I do that, will that affect my mother's report too? - HNA[ READ MORE ]

How long “past due” record remains in credit report

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[ READ MORE ]

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

  • February 29th, 2012
  • Posted in Featured

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[ READ MORE ]

Payment history may cause “paid” account to be listed as “potentially negative”

Dear Experian, I have a paid, closed account showing as potentially negative on my credit report. Why, if it shows paid, is it listed as a negative item? - ORI[ READ MORE ]

“New” collection account will be deleted at the same time as original account

Dear Experian, Is it legal for a collection agency to submit an account that they buy from a creditor as "new" even though that same account before it was purchased from the original creditor by the collection agency was two, three four years old? What can the consumer do to combat that practice in order to clear his or her credit? - ALJ[ READ MORE ]

Defining “charge off”

Dear Experian, What is a "charge off," and what does it mean? - TPA[ READ MORE ]

Which accounts to start paying off when you have bad debts

Dear Experian, How do I know which debts to go after to reduce my bad credit? - EBT[ READ MORE ]