2006-06-13 12:08:53 · 6 answers · asked by kuriousenuf 1 in Social Science ➔ Economics
Jamie, and Laura are correct. You may have paid the debt off, however, you were late. You are reported to credit reporting agencies every time you are delinquent 30-60-90 days. This hurts your credit by showing you at risk for default to potential lenders. Prompt payments, and paying more than minimum balances keep you ahead in the credit game.
2006-06-13 13:20:02 · answer #1 · answered by Battlerattle06 6 · 0⤊ 1⤋
If you were late in paying a debt, it will be reported on your credit history -- even after the debt is paid. It's part of your payment history and is of interest to others who might consider lending you money in the future.
2006-06-13 19:12:31 · answer #2 · answered by Fall Down Laughing 7 · 0⤊ 0⤋
creditors continue to report that you have paid a debt late in the past, even if you currently have it paid off because statistically, those who have made late payments are more likely to default on loans. people who loan money need to know things like that in order to continue to offer loans to people they know will pay them (i.e. in order to stay in business). Late payments will drop off your credit history in 7 years, and bankruptcies in 10.
2006-06-13 19:14:51 · answer #3 · answered by Alex 3 · 0⤊ 0⤋
You can write to the credit agencies and have a note attached saying the debt was paid.
2006-06-13 19:12:23 · answer #4 · answered by nursesr4evr 7 · 0⤊ 0⤋
a lot of times they continue to do it cause they don't realize you paid the debt
2006-06-13 19:10:56 · answer #5 · answered by Ping898 3 · 0⤊ 0⤋
Because they hate you, and everything that means America.
2006-06-13 19:16:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋