Several months ago, I hit ѕοmе major financial troubles causing mе tο fall behind іn paying аn unsecured debt. Thеу refuse tο work wіth a credit counseling service аnd demand thе balance іn full аnd I hаνе nοt bееn аblе tο pay іt back уеt аnd havent bееn аblе tο mаkе payments іn several months…hοwеνеr whenever I check mу credit report…thе debt isn’t even listed…whаt’s up? If Im several months late, wouldn’t іt bе reported?
Yeah I pay whеn I саn аnd hаνе breathed a sigh οf relief whеn I dont gеt a credit alert οn thеrе. Ive bееn contemplating bankruptcy bесаυѕе οf thіѕ debt bυt wonder іf I ѕhουld іf іt doesnt even appear οn thе report.
I thουght checking уουr οwn credit report dοеѕ nοt affect anything, іtѕ οnlу whеn уου voluntarily allow others lіkе іf уου′re requesting a CC οr tο rent аn apartment іѕ whеn іt shows up. I hаνе a credit monitoring service thаt wіll alert mе whеn something shows up, I dont check іt myself.
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Tags: able, been, Credit, Debt, haven't, report, Shouldn't, showing
If they are not reporting it, It will not show on your credit. They were also not reporting before you were late, so you did not recieve credit for paying on time.
It is the creditor’s choice to report it. I’ve had that happen to me as well. The creditor may not feel it’s worth the effort.
I woudn’t call them to remind them or anthing, just handle your business and carry on.
They have to spend more money to report it and then adjust it to an outside collections agency, which costs money too. If they can get you to pay them directly, they get all their money, without minusing the money they have to pay to the collection agency and credit reporting agency.
It all depends; If the company you are dealing with does not report to the credit bureau, then it will not show up. Another possibility could be that it takes a lil bit of time for it to appear. If on the event that the company you are dealing with, ever turns it over to a collection agency, then the possibility of something hitting your credit report will go up. In the mean time, do not sweat it, if something negatively does not show up on your credit report
There are a lot of company’s that don’t report to a credit agency
some companies don’t report . . but those are few and far between. What they will do is sell the debt to a collection agency which will report collection activity on your credit report. This will damage your report even more than the a creditor. and even after you pay it the collection activity will be on your report for 7 years. Do yourself a favor and start making small payments. . . Trust me . . . experience speaking.
P. S. You indicate that you’ve considered bankruptcy because of this debt . . this tells me that it is a large debt. Given that info, just know that if it is a large debt, it WILL appear on your report at one time or another . . . . they will not let this go.
Did you check all three major credit reporting agencies – not all creditors list on all three.
It will only be listed on your credit report if they report it. Also, there are 3 credit reporting agencies in the US, so it might be on the ones you aren’t looking at.
Be wary about working with credit counseling services, unless they are a member of CCCS. Most of the ones that advertise on the radio are scams according to the FTC.
Not all finance sources will report to the credit reporting agencies. The agencies charge the finance company for each account they report, and require that each account be updated monthly (again at a cost).
It is the choice of the creditor as to report or not. If they sell the debt to a collection agency, or file suit and get a judgment, it will be reported!!!
Pay them something every month, to prevent the loan from falling int a total default. As long as you are paying, it is doubtful they will file suit!!
That is good news!! If it doesn’t show on your credit report, It doesn’t matter!! Try to work out a payment plan with your debtor.
PS. Quit checking your credit report!! It WILL screw up your credit. For every 14 days you check your credit, it goes down 3 points.
did you ever give your social security # when this bill was created? i had credit with a catalog service and never gave them my social security #. I stopped paying and they tried collecting the money but with a social security # they could not report me to the credit bureaus.