Would that even appear on the "big 3" credit reports? I know they would report it to ChexSystems, but I don't recall ever hearing of an overdrawn bank account showing up on a regular credit report. I mean, obviously it has though.
Maybe someone a little more knowledgeable can weigh in on this, though. I'm really curious now.
Also, if it can be reported on credit report when it is overdrawn, I wonder why it isn't reported as "good" credit history when you have not have any problems with it? Same with utility bills. Why can they report a delinquent utility bill on your credit report (adversely affecting it) and not be required to report utility bills on your credit report when everything is hunky-dory (positively affecting it)?
Seems like double jepardy to me.
Just one of the many questions I have about the unfairness of this thing called "life".
-
Sorry Meg. Daddy loves ya, but Daddy also loves Star Trek, and in all fairness, Star Trek was here first.
... Peter Griffin/Family Guy
-
LOL! UncleWulf!
No, no one ever told me life is fair. It's just the optimist in me would like to think it is sometimes.
Sorry SkyDivr, I kind of dovetailed off your question without really answering it.
I went to Equifax's website (the first CB I thought of) and did a search for "delinquent bank accounts." Here's what the search returned, of course after some scrolling through pages on my part. I chose "delinquent" as opposed to "overdrawn" as a bank probabably wouldn't report it until after it became seiously delinquent, not at the first sign of it being overdrawn.
Bearing all this in mind, I'm guessing it would be reported under "Other Account" as a "Closed Account", as either "Currently Past Due" or "Negative Account History", depending on whether or not the delinquent account had finally been paid.
If someone else can chime in and confirm or deny the correctness of my assessment, please do.
-
Sorry Meg. Daddy loves ya, but Daddy also loves Star Trek, and in all fairness, Star Trek was here first.
... Peter Griffin/Family Guy
-
I'm not sure if mine was reported before but I know it is now that it's with collections. On a similar note, my credit report shows that NCO Financial is holding my Bank of America account. However according to B of A, that changed in October and it's now with PennCro, which is not on my report (this is as of 1/15/2008. Any idea what I should do regarding this? how long does it take to update something like that?
Basically bankes and untilities won't report (banks I think report on credit cards, not sure about that). What usually gets reported is an account at CA gets a hold of, THEY are the ones who report, because it is a common collection tactic to use the CRAs to help collect upon debts,, that is why the FTC has an opinion that any activity on a credit report constitutes collection activity.
However the account 'should' be listed as either a closed account or a collection account. Don't even get me started on how CAs love to report on things wrong (because it has a bigger impact on your credit) for instance I had a medical account being listed as a Revolving account so it made the medical account look like a credit card account.
I know from personal experience that a local bank(locally owed and operated) did put a overdraft protection loan on my credit report. I since have paid it and it was updated to paid in full.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Posts: 2667
Credits: 28231.75 Send message to ladybug
good question, I think perhaps it could be..I am interested on what other's have to say about this
Posts: 75
Credits: 2865.05 Send message to mppsu2003
i'm wondering the same thing...my biggest debt right now is an overdrawn bank acct currently in colelctions...
Posts: 1167
Credits: 7488.25 Send message to FloridaRon
Would that even appear on the "big 3" credit reports? I know they would report it to ChexSystems, but I don't recall ever hearing of an overdrawn bank account showing up on a regular credit report. I mean, obviously it has though.
Maybe someone a little more knowledgeable can weigh in on this, though. I'm really curious now.
Also, if it can be reported on credit report when it is overdrawn, I wonder why it isn't reported as "good" credit history when you have not have any problems with it? Same with utility bills. Why can they report a delinquent utility bill on your credit report (adversely affecting it) and not be required to report utility bills on your credit report when everything is hunky-dory (positively affecting it)?
Seems like double jepardy to me.
Just one of the many questions I have about the unfairness of this thing called "life".
Sorry Meg. Daddy loves ya, but Daddy also loves Star Trek, and in all fairness, Star Trek was here first.
... Peter Griffin/Family Guy
-
Posts: 3112
Credits: 31424.6 Send message to unclewulf
Ron, old buddy... Who ever told you that life was fair?
The four 'no's of dealing with collectors:
No validation? No payment. No way! No kidding!!
Tellin' you all the zomby troof
Here I'm is, the zomby woof
[Frank Zappa, 1988 - R.I.P.]
Posts: 1532
Credits: 7487.65 Send message to puddlejmpr
If what you owe to the bank gets turned over to a CA then it is reported. But I think that if it is not at a CA then they won't report it.
Mine went to a CA and I paid it right away so they wouldn't report it on my CR. They held up to their end and didn't report it:)
Posts: 1969
Credits: 49329.440565634 Send message to skydivr7673
what I am trying to find out is if that woudl be considered an open account, a contract account, ro what? Does anyone know?
Posts: 1167
Credits: 7488.25 Send message to FloridaRon
LOL! UncleWulf!
No, no one ever told me life is fair. It's just the optimist in me would like to think it is sometimes.
Sorry SkyDivr, I kind of dovetailed off your question without really answering it.
I went to Equifax's website (the first CB I thought of) and did a search for "delinquent bank accounts." Here's what the search returned, of course after some scrolling through pages on my part. I chose "delinquent" as opposed to "overdrawn" as a bank probabably wouldn't report it until after it became seiously delinquent, not at the first sign of it being overdrawn.
Bearing all this in mind, I'm guessing it would be reported under "Other Account" as a "Closed Account", as either "Currently Past Due" or "Negative Account History", depending on whether or not the delinquent account had finally been paid.
If someone else can chime in and confirm or deny the correctness of my assessment, please do.
Sorry Meg. Daddy loves ya, but Daddy also loves Star Trek, and in all fairness, Star Trek was here first.
... Peter Griffin/Family Guy
-
Posts: 75
Credits: 2865.05 Send message to mppsu2003
I'm not sure if mine was reported before but I know it is now that it's with collections. On a similar note, my credit report shows that NCO Financial is holding my Bank of America account. However according to B of A, that changed in October and it's now with PennCro, which is not on my report (this is as of 1/15/2008. Any idea what I should do regarding this? how long does it take to update something like that?
Posts: 2740
Credits: 37603.801632746 Send message to goldenbast
Basically bankes and untilities won't report (banks I think report on credit cards, not sure about that). What usually gets reported is an account at CA gets a hold of, THEY are the ones who report, because it is a common collection tactic to use the CRAs to help collect upon debts,, that is why the FTC has an opinion that any activity on a credit report constitutes collection activity.
However the account 'should' be listed as either a closed account or a collection account. Don't even get me started on how CAs love to report on things wrong (because it has a bigger impact on your credit) for instance I had a medical account being listed as a Revolving account so it made the medical account look like a credit card account.
Posts: 446
Credits: 6903.7 Send message to laura19544
I know from personal experience that a local bank(locally owed and operated) did put a overdraft protection loan on my credit report. I since have paid it and it was updated to paid in full.
Pages
Add new comment