Re os age dating

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Re-aging, also known as “curing” or “rollbacking,” an account involves changing its delinquency status.

In this type of re-aging, an account that was reported as late each month to the credit reporting agencies will now be reported as “paid on time.” Sometimes the financial institution will go back into the past and bring all the delinquent payments current.Once you fall behind on a bill, it can be difficult to catch up.Unless you can come up with a large lump sum to , your account may be reported as late every month, even though you are making some payments.That’s true regardless of whether the account is paid, unpaid or settled in the meantime.If a collection agency re-ages the original date of delinquency, it is likely breaking the law, and the consumer should contact the Consumer Financial Protection Bureau and/or a consumer law attorney.

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