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A delinquent debt is a term used to indicate that an agreement for services and/or goods has not been honored. In other words, a person didn't pay their bill(s).
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∙ 19y ago
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What can you do if a debt collector is calling about a delinquent debt from six or seven years ago?
Send a written request asking that the debt be validated, if you have any doubts it is legitimate. Check to see how the SOL for the type of debt and the laws of your state apply. It could be the debt is no longer collectible...don't count on it though.
Why has your credit score not changed if you have paid off all delinquent debt and have made all mortgage and car payments on time for 4 years?
it might not have changed because of your debt ratio.. meaning, you have paid off your old debts, but you have created new ones.
How much can the IRS take out of a refund for a student loan payment?
If you are delinquent in your student loans to the point where your refunds are being intercepted, they can take the entire refund until the debt is satisfied.
What does toxic debt mean?
A debt which is never likely to be repaid by the debtor.
What does subject to debt mean?
Subject to debt means that you are subject to being in debt. This is usually in reference to something being dependent on you being in debt.
What is delinquent federal debt?
Delinquent federal debt is debt by the government which has not been paid on time. This is generally a result of a unbalanced budget.
How many years does it take for a debt to be written off?
There is no set time for a creditor/lender to cancell a debt. Charge offs are generally done 180 days after the account becomes delinquent. A Charge off does not mean the debt is not still owed and collectible.
What percentage of the debt do third party collection agencies typically pay for a delinquent account?
5%
How long does a debt stay on your credit if the amount is not paid?
A debt will stay on your credit report for seven years after the date that you were originally delinquent on the account. After seven years, this debt is taken off of the account.
If a debt has been sent to collection company does it mean that it will automatically effect your credit?
If the OC has reported it to your reports as delinquent and the CA adds a negative entry as well, your score will be greatly affected
How long can a bank require you to pay on a delinquent loan?
Until it's paid off, or you declare bankruptcy and have the debt forgiven.
What is the meaning of the phrase 'charge-offs'?
The phrase "charge-offs" is the announcement by a creditor that an amount of debt is unlikely to be collected. This process often develops when a consumer becomes severely delinquent on their debt.
What can you do if a debt collector is calling about a delinquent debt from six or seven years ago?
Send a written request asking that the debt be validated, if you have any doubts it is legitimate. Check to see how the SOL for the type of debt and the laws of your state apply. It could be the debt is no longer collectible...don't count on it though.
Repo how long will it take to get on credit report?
If your vehicle is already up for repossession, it is already on your credit report as a delinquent or defaulted debt.
What does the word delincuente mean in Spanish?
Delinquent, felon, offender
How and when does a collection account become a chargeoff?
When the lender decides to classify it that way. Some will automatically charge it off when it is 90 days delinquent, others will never. Charging off a debt is just an accounting entry that keeps the bank from overstating their income and assets. It does not mean the debt is no longer owed or that they will stop trying to collect it.
What does holl crd mean on your credit report?
On your credit report, HOLL CRD usually means that you have been delinquent with a bill. In order to solve this problem, simply contact the company that you owe money to and determine how to pay off your debt.
