What is accoung re-aging?
Date: Tue, 09/18/2007 - 16:45
My debt counselor said that they will re-age the accounts in three months. What is that supposed to mean?
A legal reage is when a creditor resets date of last payment len
A legal reage is when a creditor resets date of last payment lengthening the time it will report on a credit report. If it is done correctly it can help a person's credit report.
Does that just mean that they will report my payments to the cre
Does that just mean that they will report my payments to the credit bureau?
Yes it should adjust the amount due and reflect payments on thei
Yes it should adjust the amount due and reflect payments on their reporting cycle to the bureaus.
Good they re-age the accounts every 2-3 months. That means that
Good they re-age the accounts every 2-3 months. That means that I will only see a difference on my CR once every three months. Maybe I should drop my credit monitoring then for now?