How long does a collection stay on a persons credit report?
I'd be glad to clarify! Collections stay on your credit report 7 years after the date of last activity. Don't let this confuse you...normally 7 years after date of last activity means the date that it was sold to the collection agency. Usually your account must be 180 days past due in order for the company to do that. Basically, I'm saying that the collection stays on your report 7 years and 6 months. After that, it will fall off your report. Now, to get to your question, the collectors don't just give up and stop trying to collect the debt. Legally, they are still entitled to their money since they were not paid as agreed. They can attempt to collect that debt forever, if need be. You're right. Many people would just wait out the 7 years and start all over if that was the case. Cheaper than bankruptcy, no?! But that debt will follow someone until it is settled or paid.
If an overdue account is sent to collections, how long before it's on my credit report? I was told 2-3 mths...
Your best bet is to pay them off in full some way. You do not want it to go to collections. Once it has been turned over to a collection agency it is allready too late to avoid it being reported on your credit report where it will remain for the time period as prescribed by the CRA's which is 7 ½ years (7 years plus 180 days) from the date (month and year) of the last delinquency (known as "last missed payment:). Once Sprint reports the account as being in collections status, it hits your credit report as a negative entry no matter what time frame they may use to report to CRA's it will be there on your report. Forget all the answers that say you can file a dispute or request a verification of the debt. This practice is only used to prove that a debt is time barred or beyond the state and CRA statute of limitations. This will become a "new" debt and no matter what, even if you pay the collections agency, it will still be on your report. Pay Sprint the full amount NOW to save your credit score.
Cancel credit card to cancel subscription?
Call them and explain to them that you no longer want the subscription! Speak to a manager or someone superior. And tell them that they will no longer be able to charge your card because it has been stolen from you and your bank will replace it with a new acccount number . *Wink* Good luck!
If PayPal sent me to collections, will it affect my credit score if I do not pay it?
First question I have for you is…Do you owe PayPal this money? If yes, pay it! Make arrangements to pay off if you need. PayPal has more control over you than you probably know. I found this out down the road. They are more of a “Negative Nelly”, type of company than most. They may or may not report you. Surely you don't owe a month’s salarie’s worth? IDK, but better to pay your debts and sleep at night than to have them show up at the car dealership when you go to buy that car you can finally afford. Then break the “PayPal habit and learn to pay by other means!
Can a hotel bill you if you cancel a card you had a reservation on?
Okay I reserved a room at a hotel ($250 a night plus taxes....2 nights) a month ago. I was laid off 2 weeks later so needless to say taking the trip would not be in my best interest financially. The hotel told me the room was non refundable...both nights. Well I checked my credit card online and they haven't charged me yet. I'm thinking of just cancelling my card, or reporting it lost or stolen so they issue me a new card with a new number. When we don't show, the hotel will attempt to charge a deactivated card. Can the hotel still bill me? If I don't pay, can it go on my credit? I know this seems wrong, but I really cant' afford this trip and I sure as hell didn't see myself getting laid off. Taking a trip to the mountains is the LAST thing I need to be doing right now so I see nothing wrong with this. Your thoughts?
Can a collections agency sue me if I am making payments towards my debt?
Long story short, I have been through several hardships and I have an $11,000 credit card bill. They sent it to collections, and now the collections agent is threatening to sue. My question is, can they go forward with a lawsuit if I am willing to pay? I have expressed my desire to make things right and pay back the debt I owe. I know I have to be held responsible for my actions...I'm not trying to get away with anything here. The problem is, they are demanding almost $3000 in order to stop persuing the case against me. I don't have that kind of money and I have no way to get it. I am willing to make small payments ($100 or so) from now on. I can even put this in writing for them if they want. I tried to look this up online - some places say they can't touch me as long as I am making some kind of payment. Other places say they can do whatever they want if I don't pay the whole $3000. Can anyone help?
Will canceling Sprint contract be a negative on my credit report?
I am about to need every penny I can find to pay a debt. I am thinking of canceling Sprint while I can pay for the early termintion fees right away, before I am really struggling financially. Thing is, my bill is $174 for 2 lines. I will be going into prepaid boost mobile which should save me some $$ in the future. I'm wondering if canceling my contract with sprint will go down as a negative in my credit report (currently trying to build credit). I will be paying all termination fees ($220) plus the $174 of the billing cycle right away so they won't have to be nagging me to pay.
What happens when a guest's credit card is declined when checking out at a hotel?
All hotels have different systems, policies and procedures for managing issues like this - coming from both a hospitality and payment processing background, I’ll take a shot at answering this question.Pre-authAt time of check-in, the guest presents a credit card; this is usually pre-authorised for the cost of the night’s stay and any applicable taxes or fees. A pre-auth is not an actual charge, instead it puts a hold on the amount requested until the charge is either completed, cancelled, or ‘times out’If a guest went crazy with room service, charges to the room, and other expenses, at the time of checkout, the full charge would be attempted to the card - essentially overwriting the pre-auth. If the charge was declined, the front desk team would most likely work with the guest and help them contact their card issuer, identify the problem, and then work to settle the amount outstanding.In the event the guest did not have funds available to cover the charges, the hotel would most likely collect as much as possible from the guest on the spot (cash, other credit cards, etc) or ask if they have anyone that can cover the cost for them.If there were still a balance owing, there’s a process that involves signing a legal document that acknowledges the debt, at which point it become a debt collection issue.2. Multi-day staysIf you’re staying a hotel for a number of days, the hotel usually runs a process each morning to ‘update the pre-auth charges’ from the previous day (this also usually happens before most people start checking out) - this allows the hotel to check that whatever was spend the night before, and the coming day’s room charge have available funds to cover them.If the pre-auth is declined, the front desk manager will usually contact the guest to sort out the issue (this prevents an extended stay racking up an obscene set of charges)There are a set of terms and conditions that guests sign when they check in - this is part of the check in process. There are many options available to a hotel when faced with a guest that cannot pay - almost every hotel will try to work it out with the guest in an amicable fashion; its usually an opportunity to convert a bad experience for the guest into a great experience.