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| *Loan,banking and credit>>>credit report |
What does it mean on a credit report if the credit line is closed on an item but you know it's not paid off?? |
What does it mean on a credit report if the credit line is closed on an item but you know it's not paid off?? yep, it either is a charge off, or someone made an inaccurate entry. www.creditinfocenter.com If this was a delinquent item, most likely means it was written off which also means it was or probably will be sold to a collection agency. If so it will show again, only under a new creditor What I believe you are asking is the fact when a credit card company or individual closes an account the line would be closed. However, the balance would remain until the debt is settled. This would mean that the card is closed to new purchases. Most companies update their affiliated credit bureaus at least once a month to post payments made etc, or not made. Hope that helps, Dale You can close and account (or decrease yor credit line) while there is still a balance on the account. I just did so with a Visa account. I am going to pay it off next month, but in the meantime I closed the account because I do not plan to use that card again. |
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