a couple of my credit card accounts became closed after i had trouble paying them and the balance got to high. since then i have paid them off. now what? do they just sit there and show up on my report forever, i know they make my credit look back.
2007-12-20 09:08:06 · 14 answers · asked by smile182 3 in Business & Finance ➔ Credit
i just want to re say...i've already paid them off...some people don't seem to want to read that part.
2007-12-20 09:20:08 · update #1
they make your credit look back? you mean bad?
Your credit will be worse by this for sure. someone will try and collect on this account. then when you don't pay them, it may get passed onto another agency that will also try and collect the $ from you. Eventually if you just never pay it, it will be considered a loss and uncollectable. All of this will show up on your credit, and will be visible to anyone who accesses your credit file for any reason.......not cool
2007-12-20 09:14:24 · answer #1 · answered by remember me? 2 · 0⤊ 0⤋
It would be denied unless you have a rollover plan with another account (like a savings account) at that bank. Best to alert all your auto-withdrawal merchants of the changeover as soon as you open the new account. Also overlapping the two accounts for a month is a good idea just in case. Do this and leave the initial account dormant. This way your next statement on the initial account will show whether or not you have forgotten something. It will show activity or no activity. Good Luck to you.
2016-04-10 10:09:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
They will remain on your credit report for 7 years after the first missed payment, they will be marked as paid but that is it, and yes they make your report look bad. Yes it can be sold to a collection agency but legally they cannot put it back on your report, ask them 1 to prove that it is yours. Then if over 4-5 years old (depends on your state) they can ask for the money, actually take you to court, but if you can prove the statute of limitations has expired, the case will be dropped.
2007-12-20 09:31:38 · answer #3 · answered by Pengy 7 · 0⤊ 0⤋
If they are being reported as paid, the effect on your credit score is a lot less. The slow/no pay will stay on your credit history for 7 years from the date of the last payment. Check your credit reports for free (if you don't want the credit score, which is different): www.annualcreditreport.com
2007-12-20 09:13:42 · answer #4 · answered by thylawyer 7 · 0⤊ 1⤋
The negatives will stay on your credit report for 7 years and 180 days from the date of delinquency. There is nothing you can do to hurry that up.
The older the negative, the less impact it has on your credit score and, of course, having them paid off is much better for your credit.
2007-12-20 10:44:19 · answer #5 · answered by bdancer222 7 · 0⤊ 0⤋
I believe correct, negative information will stay on your report for up to 7 years. The best that you can do is to make sure that the status of the account is correct (paid in full, closed, etc). After the seven-year period you can dispute the information and it may be removed. Not much else that you can (legally, ethically) do.
2007-12-20 09:12:13 · answer #6 · answered by Anonymous · 2⤊ 0⤋
get a credit report from all 3 agencies...check to see if there need to be any corrections made concerning your old cards. call the #'s provided and give them the correct info.
2007-12-20 09:14:22 · answer #7 · answered by bigmommy240 3 · 0⤊ 0⤋
on your credit report it will show paid in full but yes it will still hurt oyur credit most everything stays on your report for 7 years
2007-12-20 09:12:31 · answer #8 · answered by kimberly h 2 · 0⤊ 0⤋
Contact your credit card company and tell them that this account has been paid in full and shouldn't be reported anymore. Sometimes it takes awhile to get stuff like that off - otherwise you can challenge your credit report with Equifax and they'll get it take off.
2007-12-20 09:11:53 · answer #9 · answered by Anonymous · 0⤊ 3⤋
Yes. they do close and you can not reopen them since you now have a negative mark on their records. You can rebuild your credit though by getting secrued cards.
2007-12-20 09:14:57 · answer #10 · answered by chocolatebabycakes 4 · 0⤊ 0⤋