2006-08-07 09:34:40 · 6 answers · asked by underd2000 1 in Business & Finance ➔ Credit
redbirdspiri. needs to do her research a little bit better.
The FACT is that once an item is listed to your credit report, it will stay there for 7 years beginning from the date of the delinquency.
Paying the bill will NOT remove the listing. It will NOT be showed as "paid satisfactory" and it will continue to be a negative listing. The only way it will be removed is if the creditor deletes the listing. That is why I recommend that people get IN WRITING an agreement from the creditor to delete the listing before you pay them a dime back.
2006-08-07 12:02:18 · answer #1 · answered by Anonymous · 3⤊ 0⤋
Pay off the judgement or make an arrangement to pay prior to it going to collections or court proceedings.
If it goes on your credit history and it is paid; the history will say paid satisfactory.
This is cleaning up your credit.
Otherwise the damage is done and you will have a negative credit rating .
Your credit score is what distinguishes you by how much credit you are allowed by a company and how many accounts with large balances you have open.
If your score is below 600-500 your credit is in serious need of repair.
Pay up those bills in and on time and never neglect them
Never buy anthing on credit just for the sake of having that credit card. Pay cash if you can. Use the credit card only if you hav to and only for if you can pay the full balance per month or for large purchases like furniture or emergencies like the water heater burst and you have no hot water in your home.
Smart money is smart thinging
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2006-08-07 16:48:06 · answer #2 · answered by redbirdspiritflying 2 · 0⤊ 0⤋
Accurate information can stay on your report for 7 years after the last activity on the account. If you pay what you own, it will not remove the non-payment entry, but is should become a late payment. That is better than non-payment.
2006-08-07 19:03:31 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
Seven years... If it was the credit card company's error then they have 30 days to investigate and remove it from your account and credit report.
2006-08-07 16:40:05 · answer #4 · answered by Crazy girl 2 · 0⤊ 0⤋
it could take a while. they dont care if it restores your credit. i think they like to make you sweat. as long as they get there money thats all they care about. hope everything works out for you.
2006-08-07 16:40:18 · answer #5 · answered by ♥BUD or BUD LIGHT♥ 4 · 0⤊ 0⤋
It can vary, but it can be as long as 7 years.
2006-08-07 20:30:54 · answer #6 · answered by ShouldBeWorking 6 · 0⤊ 0⤋