FIND TERM: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
- Sallie Mae
- Satisfied
- Score Power score
- Seasoned trade line
- Second mortgage
- Secondary lien
- Section 341 meeting
- Secured credit card
- Secured loan
- Security alert
- Settlement of debt
- Short sale
- Signature loan
- Skip tracing
- Slow pay
- Soft inquiry
- Special forbearance
- Status
- Statute of limitations
- Stored value card
- Subprime
- Summary judgment
- Summons
Interesting Facts
The statute of limitations on defaulted debt varies widely from state to state. It can be as little as 2 years or as many as 15 years. Some states also have different limitations for open accounts and written contracts. Even medical debt can be treated differently.
Soft inquiries are recorded on credit reports for a period of two years, even though they do not affect the actual score.
Skip tracing errors can lead to aggressive collection attempts directed at innocent consumers.
