Posts Tagged ‘ delinquency ’

“Short sales” usually deleted 7 years from the mortgage’s first late payment

Dear Experian, How long is a short sale on your credit report? We did a short sale in December 2010, and it is still on our credit report. - SPG

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Recent late payments hurt credit scores the most

Dear Experian, Why has my credit score dropped 42 points? There is a late payment on one of my cards which has since been brought current, and four of my accounts have been paid off and have a "0" balance. Why doesn’t my score increase as quickly when I pay off accounts as it does when I miss a payment? - KRS

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An account update by your creditor will not change when it is deleted

Dear Experian, If a negative item is past seven years on my report and the creditor updates it, will it ever come off my report? - JCP

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Late payments continue to appear after declaring bankruptcy

Dear Experian, How can I get late payments removed for items that were included in bankruptcy? - NPN

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When negative information will be removed from your credit report

Dear Experian, If the account status information says the item will be moved from negative to positive on a certain date, what determines when and why that happens? - AJH

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Transferred/closed student loan history still affects credit scores

Dear Experian, I recently filed a dispute to get the status of my federal student loans changed. They were reported as delinquent because of missed payments. However there was a forbearance put on the account, and after the dispute, the status was updated to transferred/closed. Should my score improve with this update? - CMW

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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

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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

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Creditors not required to notify you before reporting delinquency

Dear Experian, Do creditors have any obligation to notify you directly of an impending report of a late payment other than a monthly statement? - BNF

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Settled or charged off accounts in your credit report are “potentially negative”

Dear Experian, If an account is paid off/closed, settled, or charged off, why would it still be showing as potentially negative? Is there any way to get these removed so they no longer affect me negatively? - JNG

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Paying off account will not restart the seven year time frame

Dear Experian, If a charged off credit card is about to drop off and I pay it off, can the creditor restart the seven year time frame on my report? Thank you. - PYR

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Allowing late mortgage payments for short sale

Dear Experian, If I'm planning to do a short sale but have not yet gone behind on monthly payments, is there any advantage to not going behind on payments? In other words, does your credit get damaged exponentially in that scenario? If it doesn't really matter, then wouldn't it be wiser to just stop payments now and save the money? - MTS

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Account reported for first time shows it is 90 days late

Account reported for first time shows it is 90 days late Dear Experian, In what instance does a credit profile reflect a 90 day late when it never reflected a 30 or 60 day late? Is it possible to just be 90 days delinquent without first being 30 or 60? - ADC

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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

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Delinquency cannot be removed after two years of on time payments

Dear Experian, If payment has not been delinquent for two or more years can it be removed from potentially negative status? - FRA

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Past delinquencies are deleted, and you are the best person to restore your credit

Dear Experian, Are past delinquencies that have been paid off ever removed from the credit report? Also, do you have someone that you recommend for cleaning up credit? - WHI

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Status line describes when information will be deleted

Dear Experian, On the credit report, the account status details say, "This account is scheduled to continue on record until July 2010." This is July 2010. Does that mean July 31, 2010? After July, will this item fall off of my report? - RIE

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Impact of allowing mortgage to go delinquent to qualify for short sale

Dear Experian, I had excellent credit before we were advised by our lawyer to not pay our mortgage so we could qualify for short sale of our home. One year later, our home is now sold. How can we go about fixing our credit now? All of our other credit history is excellent. - DNM

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Date opened nor date closed affect when account is deleted

Dear Experian, My credit report shows delinquencies on very old accounts from when I was laid off and unemployed for 18 months. All repayments were arranged between myself and the lender and repaid as agreed. How long before these come off my credit report? Is it from the date closed or opened? - WTR

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