Can an unpaid overdraft on a checking account be sent to a collection agency and appear on your credit report?

Banks and Credit Reports Here is advice: Banks have their own type of credit reporting systems called chexsyems. If the overdraft was over $200 most banks will not let you open another account for atleast 3 years. Now as far as this overdraft showing up on your credit report that will not be a problem.

You can read more on this if you type in chexsystems in a search engine Yes, if you have an overdraft from a bank account IT CAN go on your credit report. We just went through that from an error on the banks part on a check that bounced from someone else and overdrew my husbands account, we moved and didn't use the account and only found this out when we were buying a house and had to pay it off.

Agency. Keep in mind that any new activ…ity regarding the account? (for example, if you decide to pay it off) will reset the time?

Limit. In other words, if you have an unpaid collection account? From Jan. 2000 and you decide to pay it in Apr. 2004, it will?

Remain on your credit report for 7 years from the date you paid? (Apr. 2004) instead of the original date it was reported (Jan. Leaving it unpaid means that 7 years from Jan. 2000, it must?

Legally be removed from your report.? The previous answer is incorrect. Paying on a collection account? Does NOT re-set the time limit.? The Fair Credit Reporting Act establishes a method by which the?

"reporting period" is timed at 7 years. This date is established at? 1681c, Sec.

605(c)(1) "...upon the expiration of the 180-day period? Beginning on the date of the commencement of the delinquency, which? Immediately preceded the collection activity..."?

So, the date that triggers the 7-year countdown is the last time a? Consumer pays their account on time immediately before it is? Defaulted.

Nothing can legally change this date. Data Furnishers? (creditors) have 90 days from the first time they report a?

Collection to identify this date. Altering it (because of a payment? Or for any other reason) would provide grounds for a lawsuit for?

Violating the FCRA.? -----------------------------------------------------------------------? Actually the first answer is correct per conversation I had with? Equifax?

----------------------------------------------------------------------------? As a credit counselor, I get this a lot. The common source of?

Confusion is that the statue of limitations to be sued (varies with? State) gets reset which means you can still be dealing with a debt? Even after it has fallen off your report.

It is true the debt must? Be removed after 7 years, regardless if you make payments or not.

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.

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