Debt Negotiation Zone » collections account http://debtnegotiationzone.com Debt Negotiation Fri, 19 Aug 2011 22:59:35 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 How Long Will It Take For My Credit Cards To Go Into Collections? http://debtnegotiationzone.com/how-long-will-it-take-for-my-credit-cards-to-go-into-collections/ http://debtnegotiationzone.com/how-long-will-it-take-for-my-credit-cards-to-go-into-collections/#comments Fri, 19 Sep 2008 06:16:25 +0000 admin http://debtnegotiationzone.com/?p=295 If you are behind on your bills and are being hounded by your creditors, the experience can be unsettling.  Many people are curious as to how long it takes for their past due accounts to be turned over to a third party collections company or collection agency.

It Can Take 90-120 Day For Your Account To Go Into Collections

The original issuer of your credit card will probably try to collect from you for the first three to four months.  After that they will probably send you to a collection agency.  The collection agency is usually very aggressive and will pursue you very hard for payment.

You best bet is to do whatever you need to do to stay current on your bills.  Being in debt is no fun and worrying about it will rob you of the full experience of your life.

]]> http://debtnegotiationzone.com/how-long-will-it-take-for-my-credit-cards-to-go-into-collections/feed/ 0 What happens to my credit score if I am 30 days late on a credit card? http://debtnegotiationzone.com/what-happens-to-my-credit-score-if-i-am-30-days-late-on-a-credit-card/ http://debtnegotiationzone.com/what-happens-to-my-credit-score-if-i-am-30-days-late-on-a-credit-card/#comments Sat, 09 Aug 2008 19:31:30 +0000 admin http://debtnegotiationzone.com/?p=142 What happens to my fico score if I am reported late? If you are late paying on your credit card bill by thirty days or more, it will get reported to the credit bureau as a late. I have seen credit scores drop as much as 100 points just by having one late payment. If you are trying to buy a home and the credit late is within a 12 month period it may keep you from being able to buy or refinance your home.

Does having to pay the late fee automatically mean that I will be reported as late to the credit bureau?

If you are hit with a late fee because you are 15 days past the due date of the credit card statement, that does not mean that you will be hit with a late in your credit bureau. From the 15th-29th day after the credit card statement due date you wont get a late on your credit as long as you make the credit card payment. You will only get a 30 day late on your credit after the bill has gone unpaid for 30 days.

Do not mess around with paying your credit card bill

Pay your bills on time. You never know when you will need your good credit. Get in the habit of paying your bills on time. If you lack discipline, you may want to try online bill payment. I do mine through Bank of America. It is very simple. You could even sign up for automatic payment.

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