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Sure; the problem in such a case would be getting a mortgage to buy a house, not selling a house.
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∙ 11y ago
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Does your credit score go up if you sell a house?
yes
What is a credit report?
Credit Report - If you've ever applied for a credit card, loan, insurance, or a job, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a credit report. Banks and other companies use your credit report to assess your credit worthiness. So at times when an individual has been turned down for a loan or credit it is the information held in the credit report which is an issue. In other circumstances, credit reports also also used in getting the capacity of an individual to pay their mortgage credit or any other type of loan. Even when an individual has a poor credit report, he/she can still improve it by paying his/her debts and settling payments and other important credits. Credit report is a snapshot of everything you have ever done in your life that has involved your use of credit. Try to visit Simple Credit Online for more advise.
If foreclosure proceedings are started but the loan was reinstated will it show negatively on a credit report?
Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report. I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".
Do you have the right to see your credit report for free if you have recently been turned down for something?
Yes. In the United States, if you are denied credit, you can demand to see a copy of the credit report that caused you to be denied. HOWEVER, anybody can get a free copy of your credit report EACH YEAR, from EACH credit reporting agency. So you can get a free copy of your credit report every 4 months. Go to "annualcreditreport.com", pick one of the three credit reporting agencies (TransUnion, Equifax, and Experian) and start the application. I recommend that everybody make it a point to monitor your credit report every 4 months. I've set an annual reminder so that I can be sure to request my credit report regularly. DO NOT simply search for "free credit report" on search engines; most of those sites will try to sell you a credit monitoring service for $15 bucks a year, for nothing more than you can get REALLY for free. The only interesting thing that isn't included in your free annual credit report will be your "FICO Score", which is sort of the bottom line number that car dealers or mortgage lenders use to determine if you're credit worthy. (FICO, or "Fair Isaacs Credit Organization", determined some of the original guidelines for credit worthiness.)
What happens when a Bank loan is charged off?
It will show on your credit report where your bank loan was "Charged Off". This means the bank wrote off the money and gave up on collecting it. However they can sell that debt to a collection agency to try and collect it. It will show on your credit report for 7 years.
Do credit agencies routinely sweep court records is the court required to report judgments if now how do you report it?
Credit agencies to not "sweep" court records. Courts do not "report" judgments. Individuals, workking a private contractors, search and scan public records. They make money by selling these records to various databases. Those agencies re-sell the information to the bureaus. The credit reporting agencies purchase only public record information that affects financial decisions. These types of records include bankruptcies, tax liens, judgments and foreclosures. If a judgment is recorded in any jurisdiction serviced by the independent contractors, they are likely to scan the new record on their next visit to the courthouse. Individuals may not directly report information to the credit bureaus. Only companies who are contributing clients may provide information.
How do you report a default judgment to the credit bureaus?
Judgments do not get "reported" to the credit reporting agencies. Independent contractors scan public records and then sell these documents to third party data furnishers. An example is Hogan/LexisNexis and Choicepoint. Records that pertain to credit, (judgments, tax liens, bankruptcy and foreclosure) are then re-sold to the CRA's. A consumer battling their own default judgment can have a disposition recorded at the same jurisdiction as the original legal item was filed. Plaintiffs can do the same with the original filing and trust the record will find its' way onto the defendant's credit report. Their is no other direct way for an individual or company to report a public record.
Is my credit score on my credit report?
Your credit score is determined from the data on your credit report. Most credit reporting sites sell or give away for free a credit score with your credit report. Some site only give away a credit score. So, the answer to your question is, yes, your score generally comes with your credit report but it is not always included.
How do you get a judgment put on someone's credit report?
Individuals cannot "put" something on someone else's credit report. Judgments are part of the public record, and as such, are the subject of routine searches by individuals who re-sell this type of information to Credit Reporting Agencies. So, if you were the prevailing party in a judgment, you can be relatively certain the judgment will find it's way onto the defendants credit. In most states, a judgment must be recorded twice to ensure that it attachs to any real property owned by the defendant.
Does your credit score go up if you sell a house?
yes
Does a car repossession go on your DMV report or only on your credit report?
Only on your CREDIT REPORT. DMV doesnt care how you got it or got rid off it, as long as ya dont steal it or sell before ya pay for it.
When a judgment is removed from the credit report after the 7 years have expired is it still valid and will it have to be paid if the person wants to sell their house 10 years later?
The removal of a judgment from a CR does not mean it is not valid and collectible. Judgments are awarded for a 5-20 years duration and most are renewable. In the majority of cases they will remain valid until they are paid in full or a settlement is made. A judgment that is renewed can be reentered on a CR.
What is a credit report?
Credit Report - If you've ever applied for a credit card, loan, insurance, or a job, there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs). The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a credit report. Banks and other companies use your credit report to assess your credit worthiness. So at times when an individual has been turned down for a loan or credit it is the information held in the credit report which is an issue. In other circumstances, credit reports also also used in getting the capacity of an individual to pay their mortgage credit or any other type of loan. Even when an individual has a poor credit report, he/she can still improve it by paying his/her debts and settling payments and other important credits. Credit report is a snapshot of everything you have ever done in your life that has involved your use of credit. Try to visit Simple Credit Online for more advise.
A consumer credit report: What is it?
A consumer credit report is a record of your credit history. It shows lenders how you have managed your credit in the past, and it helps them decide whether to lend you money and how much interest to charge you. A consumer credit report includes information about your: Credit accounts, such as credit cards, loans, and mortgages Payment history, including how often you have paid your bills on time Amounts owed Length of credit history Types of credit Public records, such as bankruptcies and liens Your credit report is compiled by credit bureaus, which are private companies that collect and sell credit information. In the United States, there are three major credit bureaus: Equifax, Experian, and TransUnion. It is important to review your credit report regularly to check for errors. If you find any errors, you should dispute them with the credit bureau. Your credit report can have a big impact on your ability to get loans, so it is important to keep it accurate and up-to-date. By understanding your credit report, you can make informed decisions about your finances and improve your credit score. Here are some of the things you can do to improve your credit score: Pay your bills on time. This is the most important factor in determining your credit score. Keep your credit utilization low. This is the percentage of your available credit that you are using. Aim to keep your credit utilization below 30%. Don't close old accounts. Closing old accounts can lower your average age of accounts, which can hurt your credit score. Dispute any errors on your credit report. If you find any errors on your credit report, dispute them with the credit bureau.
If a car is repossessed and you pay the balance after they sell the car do they remove the Repo in your credit report?
Do they? NOT usually. CAN they?? yes, if you convince them to. reporting a repo is reporting a fact. The repo DID happen. They report the payoff. That is a fact also.
If foreclosure proceedings are started but the loan was reinstated will it show negatively on a credit report?
Yes. Foreclosure proceedings do not begin in most states until you are a number of months behind in payments. That will negatively impact your credit report. I had foreclosure proceedings begin on my home, but I was able to short sell the home before it went to auction. On my credit report it says, "loan was paid for less than amount owed".
Do you have the right to see your credit report for free if you have recently been turned down for something?
Yes. In the United States, if you are denied credit, you can demand to see a copy of the credit report that caused you to be denied. HOWEVER, anybody can get a free copy of your credit report EACH YEAR, from EACH credit reporting agency. So you can get a free copy of your credit report every 4 months. Go to "annualcreditreport.com", pick one of the three credit reporting agencies (TransUnion, Equifax, and Experian) and start the application. I recommend that everybody make it a point to monitor your credit report every 4 months. I've set an annual reminder so that I can be sure to request my credit report regularly. DO NOT simply search for "free credit report" on search engines; most of those sites will try to sell you a credit monitoring service for $15 bucks a year, for nothing more than you can get REALLY for free. The only interesting thing that isn't included in your free annual credit report will be your "FICO Score", which is sort of the bottom line number that car dealers or mortgage lenders use to determine if you're credit worthy. (FICO, or "Fair Isaacs Credit Organization", determined some of the original guidelines for credit worthiness.)
