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Can a creditor change a reported date if they updated info after its been pd for several years?
Wiki User
∙ 14y ago
No they can't, it is something CA's do all the time to unsuspecting consumers, it is called re-aging and a violation of both FDCPA and the FCRA.
Wiki User
∙ 14y ago
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When an accounting change is reported under the retrospective approach account balances in the general ledger?
are closed out and then updated
Can a creditor report an account current for years and then change the records to show a delinquency?
Yes, if the delinquecy did happen and they were correcting their error.
Can a creditor reopen an account once it has been reported to the credit agencies as a charge off?
Most creditors will say no. What can be done: 1. the creditor can change the rating on the account if you have proof that it was paid on time with the borrower getting a letter stating that they did just that. Follow up with the 3 credit reporting companies to make sure this is done. 2. the creditor can start a whole new account--that will allow you to pay this one on time, giving you a 2nd chance. KEEP ANY LETTER YOU GET THAT CHANGES YOUR REPORT AS THE POSSIBILITY THAT YOU WILL NEED IT AGAIN IS VERY HIGH!!! On a charged off account, most corrections have to be done by hand--alot of times this is not done (for whatever reason) and your letter is the only proof of what was done.
Can a Collection Agency re age an old debt?
A creditor or collector cannot arbitrarily change the date of the DLA in order to negate an SOL or enter on the debtor's credit report or other similar actions. However, if the debtor made an attempt to repay, negotiate a repayment or other such contact with the collector the original DLA becomes moot until the debt is considered defaulted again. If the question refers to the continued collection of a debt after the SOL has expired that is allowable. Debts only become invalid when the creditor or collector who buys the debt "forgives" the money owed. The debtor will then receive a 1099C form which designates the forgive debt as income and it must be reported to the IRS as such.
Accounting profit is subjective discuss?
Here's a couple of reasons/examples why profit is subjective:1) Inventory valuation methods (LIFO,FIFO, average cost, etc.)Change the inventory valuation method, and the reported profit will change also.2)Depreciation methods(straight line, double-declining balance, etc.)Again, if thedepreciation methodis changed, reported profit changes too.
When an accounting change is reported under the retrospective approach account balances in the general ledger?
are closed out and then updated
What options reflect the outcomes of the change control process given this change request?
The quality management plan is updated. The change request is approved. The change request status is updated. The change control log is updated.
When was the latest tornado sighted?
The answer will change constantly, but as of April 16, 2017 several tornadoes were reported in Kansas and Nebraska on April 15.
How do you change I saw him just now into reported speech?
You would change "I saw him just now" into reported speech by saying "I said that I had seen him just then."
How ofen are mls online scores updated?
The scores are updated as often as they change. The have scores posted from games that are happening live at that moment. As soon as the score changes it will be updated on the site.
Can you change the due date of your loan?
Call your lender or creditor and request a change of due date. Usually this is not a problem.
If you change your PIN at a cash machine is it instantly updated?
YES!
The date you change a file is an example of a property?
automatically updated
Does Wizard Quest ever get its puzzles and layout updated and changed?
WIZARD QUEST is updated on Memorial day. They DO NOT change the loations of the wizards.
How did the US change from a creditor nation in 1980 to a debtor nation in the late 1980s?
idfk!
How often should hazard assessments be updated?
Hazard assessments should be reviewed annually and updated whenever the process or conditions change significantly.
How did the change in trade affect the US' economic standing?
the united states became the largest creditor nation in the world
