If you transfer an account to another zero percent interest rate card when yours is about to expire it would have a lot of benefits. Let us know exactly what your looking to find out so that we can address your question alot better. Look forward to hearing from you.
I am sorry, I am new at this and it seems I did not explain the situation. The transfer is not at my request. I think this happens when the OC sells the debt. When this happens, the last contact changes to a later date. If I have this all wrong, please explain my mistake.
Thanks
I think that you mean to say that your debt has been sold off by the original creditor to the collection agency. Even if the debt is sold off by the OC to the CA, the negative listing will stay there for seven and a half years from the date of your first missed payment and will affect your credit score. However, if you pay off the debt after coming to the pay for deletion agreement with the collection agency to whom the debt has been sold, the CA will remove the listing as soon as you pay off the debt in full, but for that you should get it in writing.
I agree with Mary. However, if you come to pay for deletion agreement with the collection agency, only the CA listing will be removed from your credit report but the original creditor listing will stay there for seven years. Now if the debt is not sold off to the CA, but only the right to collect the debt has been transferred, to the CA, and if you come to a PFD with the OC, then both the listing will get removed and the credit score will improve. But whatever may be the case the seven years and six months listing period will start from the date of your last payment towards the debt.
where are you going to transfer it too?
If you transfer an account to another zero percent interest rate card when yours is about to expire it would have a lot of benefits. Let us know exactly what your looking to find out so that we can address your question alot better. Look forward to hearing from you.
I did not think about it in the credit card aspect on transferring an account, ding dong moment.
Fireyone is correct, there are a lot of benefits if you get the transferred amount paid off with in the grace period if there is one.
transfer of account
I am sorry, I am new at this and it seems I did not explain the situation. The transfer is not at my request. I think this happens when the OC sells the debt. When this happens, the last contact changes to a later date. If I have this all wrong, please explain my mistake.
Thanks
I think that you mean to say that your debt has been sold off by the original creditor to the collection agency. Even if the debt is sold off by the OC to the CA, the negative listing will stay there for seven and a half years from the date of your first missed payment and will affect your credit score. However, if you pay off the debt after coming to the pay for deletion agreement with the collection agency to whom the debt has been sold, the CA will remove the listing as soon as you pay off the debt in full, but for that you should get it in writing.
I agree with Mary. However, if you come to pay for deletion agreement with the collection agency, only the CA listing will be removed from your credit report but the original creditor listing will stay there for seven years. Now if the debt is not sold off to the CA, but only the right to collect the debt has been transferred, to the CA, and if you come to a PFD with the OC, then both the listing will get removed and the credit score will improve. But whatever may be the case the seven years and six months listing period will start from the date of your last payment towards the debt.
transferred accounts
Accounts in good standing will stay on your report for ten years from the date of the last financial transaction.
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