Sentences with phrase «closed by creditor»

A card indicating «closed by creditor» (or in this case, «closed due to nonuse») on the credit report might be the result of some underlying negative information that the creditor closing the card has knowledge of, and that isn't reflected on the credit report.

It shows closed by creditor on my credit report.

Whoever ordered them, luckily, must not have been able to activate them though so there is no history over the last four years, but they have been closed by the creditors and are appearing as negative accounts.

Not exact matches

«Rather than trying to beef up inventory, they should have closed more stores and spread the existing inventory among the stores they had left,» says Dan Harrow, a financial adviser retained by the creditors» committee.

The closing of the doors took place in a very low - key way: there was no formal declaration of any capital controls, but the Korean banks could obtain foreign exchange only by going to the central bank, so the central bank could strengthen the banks» bargaining position vis - a-vis the creditors by simply not making foreign exchange available to them.

Greek banks are closed all week after news broke that the country will be holding a referendum vote on whether to accept the bailout measures offered by international creditors.

The country is $ 70 billion in debt, schools are closing by the hundreds, and infrastructural services — like the overburdened electricity system — have been overlooked in order to make way for debt payments to Wall Street creditors, according to Juan Cartagena, President and General Counsel of LatinoJustice PRLDEF, a public interest law firm.

Since the introduction of professional football in England in 1885, Newton Heath had been losing money steadily, and by 1902, when they were close to  # 3000 in debt, the creditors moved in.

Despite all the progress realized by Samaras» government, Greece's creditors demanded close to $ 3 billion in new austerity measures including, among other things, increases in VAT on hotel services up to 13 % (from 6.5 %).

The only ways you can dramatically boost your credit score within a month or two is by cleaning up the public records section of your credit report (as discussed above), paying down a substantial amount of debt if you are close to your credit limits (also discussed above), or getting a creditor or the credit bureau to stop reporting negative information that is more than 7 years old.

After receiving their credit score which may or may not be close to the «real» credit score viewed by lenders and other creditors, these unsuspecting subscribers find themselves charged for a monthly service.

Some consumers are under the false impression that if credit is closed by the consumer it impacts them less than when the creditor closes the account.

closed by grantor [top] A credit account that has been closed at the grantor's request wherein a creditor cancels your charge privileges.

Accounts you closed that do not indicate «closed by consumer,» and that may otherwise look like your creditors closed the accounts

While the debtor and debt settlement firm work on this together the decision frequently ends up being decided by the creditor who seems to be closest to starting litigation to collect their debt.

Another related tip on how to repair your credit score is don't let your creditor close it due to inactivity (a «closed by grantor» listing lowers your credit score).

In a consumer credit transaction contract where the original amount financed exceeds ten thousand dollars ($ 10,000) or the credit transaction is secured by real property, the creditor may require the payment by the debtor of attorney's fees prior to default by the debtor in connection with the closing of, amendment to, or modification of the credit transaction, provided that the attorney is not a salaried employee of the creditor.

(g) A creditor may, pursuant to a consumer credit transaction contract secured by an interest in real property, charge and collect points in an amount not to exceed five percent of the original principal balance in the case of a closed - end consumer credit transaction, or five percent of the total line of credit in the case of an open - end credit plan.

The lender will also not have to worry about providing a new notice of right to rescind under Regulation Z for a modification of a closed - end mortgage by the original creditor.

When you pay off your credit cards and the balance reaches zero, contact your creditor and try to close the accounts one - by - one.

You may be thinking that closing unused accounts could earn you brownie points with creditors by demonstrating that you're being responsible.

Leaving good debt and closed accounts is actually good for your credit report and can help improve your credit score by showing your committment to paying your creditors.

America's Federal Bankruptcy Laws are designed to give Debtors a «Fresh Start,» but they also protect Creditors, by ensuring that each and every Creditor will be treated equally, whether they are complete strangers to the Debtor, or close relatives of the Debtor.

As it was a CVA they were swamped by the votes of unsecured creditors and those not connected to the closed premises who stood to lose nothing under the CVA.

If the company is not bankrupt, but closed its doors because it is insolvent and has not yet asked for protection from creditors under the Bankruptcy and Insolvency Act, the employee must recover unpaid wages via the Employment Standards Branch of their jurisdiction by filing a complaint.

121 (1) Subject to subsections (3) and (4), where a person obtains an order to enforce an obligation in a foreign currency, the order shall require payment of an amount in Canadian currency sufficient to purchase the amount of the obligation in the foreign currency at a bank in Ontario listed in Schedule I to the Bank Act (Canada) at the close of business on the first day on which the bank quotes a Canadian dollar rate for purchase of the foreign currency before the day payment of the obligation is received by the creditor.

We represented the Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc. in litigation against JPMorgan Chase Bank, N.A. concerning collateral JPMorgan obtained from Lehman pre-petition and the close out of derivatives transactions between the two institutions post-petition, resulting in a settlement that included a cash payment by JPMorgan to the Lehman estate of over $ 1.4 billion.

«The Bureau understands that it is usual, accepted, and appropriate for creditors and settlement agents to provide a Closing Disclosure to consumers, sellers, and their real estate brokers or other agents,» according to a statement by the CFPB on the finalized updates.

«The CFPB acknowledged that concern by making it clear that it is appropriate and accepted for creditors and settlement agents to share the closing disclosure with consumers, sellers, and their agents.

As noted above, in the proposal, the Bureau stated its belief that settlement agent costs in connection with providing the Closing Disclosure would be similar to costs imposed on creditors by the Closing Disclosure requirement.

The Real Estate Settlement Procedures Act (RESPA) requires creditors to provide a good faith estimate of closing costs and a settlement statement listing the amounts paid by the consumer.

As noted in the proposal, providing the purpose of the Closing Disclosure is a new requirement, as neither creditors nor settlement agents are currently required to provide this type of information in the disclosures required by TILA, RESPA, and their implementing regulations.

For the reasons discussed below in the section - by - section analysis of § 1026.19 (f), however, the final rule requires creditors to disclose the actual terms of the transaction on the Closing Disclosure, but also provides that if any information necessary for disclosure of the actual terms is unknown to the creditor, the creditor shall make such disclosure based on the best information reasonably available at the time the disclosure is provided to the consumer.

In the proposal, the Bureau did not propose retaining this requirement because, under the proposed rule, the creditor would have been required to deliver the Closing Disclosure three business days before consummation, and redisclose with an additional three - business - day waiting period if any of the actual terms changed, except in very limited circumstances described in the section - by - section analysis of § 1026.19 (f)(2).

Third, as described above the final rule permits creditors to provide estimates where actual terms are not available, and where changes happen subsequent to the issuance of the Closing Disclosure only require a further three - day waiting period if there are certain significant changes to the terms, such as a change in the APR by more than 1/8 of 1 percent or 1/4 of 1 percent (based on the type of loan), the loan product changes, or there is an addition of a prepayment penalty.

As applicable, the table required by proposed § 1026.38 (r) would have included contact information for the creditor, the mortgage broker, the consumer's real estate broker, the seller's real estate broker, and the closing agent.

i. Because certain closing costs, individually, are subject to the limitations on increases in closing costs under § 1026.19 (e)(3)(i)(e.g., fees paid to the creditor, transfer taxes, fees paid to an affiliate of the creditor), while other closing costs are collectively subject to the limitations on increases in closing costs under § 1026.19 (e)(3)(ii)(e.g., recording fees, fees paid to an unaffiliated third party identified by the creditor if the creditor permitted the consumer to shop for the service provider), § 1026.38 (e)(2)(iii)(A) requires the creditor or closing agent to calculate subtotals for each type of excess amount, and then add such subtotals together to yield the dollar amount to be disclosed in the table.

For example, some commenters recommended dividing responsibility by the statutory authority requiring the disclosure, by page number (e.g., creditors would prepare pages 1, 4, and 5, and settlement agents would prepare pages 2 and 3), or by the party that assumes responsibility for the Closing Disclosure.

With respect to concerns about closing delays caused by creditor - settlement agent coordination, the Bureau does not expect such delays will occur frequently because creditors and settlement agents already must coordinate to prepare the RESPA settlement statement.

New comment 19 (e)(3)(i)-7 explains that although § § 1026.37 (o)(4) and 1026.38 (t)(4) require that the dollar amounts of certain charges disclosed on the Loan Estimate and Closing Disclosure, respectively, be rounded to the nearest whole dollar, to conduct the good faith analysis under § 1026.19 (e)(3)(i) and (ii), the creditor should use unrounded numbers to compare the actual charge paid by or imposed on the consumer for a settlement service with the estimated cost of the service.

However, TILA, RESPA, and their implementing regulations currently do not expressly require the disclosure of: (1) The email address of the creditor (unless the creditor is also the loan originator, in which case it must be disclosed on the GFE but not on the RESPA settlement statement); (2) the name, email address, and phone number of the consumer's primary contact with the creditor; (3) the email address of the closing agent; (4) the name, email address, and phone number of the consumer's and seller's real estate brokers, if any; or (5) the license number or other unique identifier issued by the applicable jurisdiction or regulating body with which a closing agent or real estate broker is licensed and / or registered, if any.

For example, one trade association representing settlement agents and various law firm commenters raised the possibility that, without the role of an independent review or preparation of the Closing Disclosure by a settlement agent, creditors could misstate fees of third - party settlement service providers.

For a closed - end credit transaction, prepayment penalty means a charge imposed for paying all or part of the transaction's principal before the date on which the principal is due, other than a waived, bona fide third - party charge that the creditor imposes if the consumer prepays all of the transaction's principal sooner than 36 months after consummation, provided, however, that interest charged consistent with the monthly interest accrual amortization method is not a prepayment penalty for extensions of credit insured by the Federal Housing Administration that are consummated before January 21, 2015.

If the calculation required by § 1026.38 (i)(8)(ii) yields a negative number, the creditor or closing agent discloses the amount as a negative number.

The Bureau proposed to require creditors to use the integrated Loan Estimate required by § § 1026.19 (e) and 1026.37 to satisfy the disclosure requirements under RESPA section 5 for closed - end transactions covered by RESPA, except for reverse mortgage transactions.

Under the final rule, creditors and settlement agents are free to divide responsibility in a variety of ways, including but not limited to a division in which the creditor provides the Closing Disclosure three business days before consummation and the settlement agent provides any corrected Closing Disclosure at consummation, subject to the provisions of § 1026.19 (f), as suggested as an alternative by some trade association commenters representing banks and financial companies.

The Bureau proposed to require creditors to use the integrated Closing Disclosure required by § § 1026.19 (f) and 1026.38 to satisfy the disclosure requirements under RESPA section 4 for closed - end transactions covered by RESPA, except for reverse mortgage transactions.

In these cases, however, the denial or withdrawal of an application that may occur subsequent to the three - business - day deadline does not excuse a creditor's obligation to provide the Closing Disclosure by that deadline.

Pursuant to its authority under Dodd - Frank Act section 1032 (a) and (f), TILA section 105 (a), and RESPA section 19 (a), the Bureau is requiring creditors to provide the loan costs and other costs imposed upon the consumer and the seller in tables as part of the integrated Closing Disclosure for closed - end transactions secured by real property (other than reverse mortgages).

Under the subheading «Services Borrower Did Shop For» and in the applicable column as described in paragraph (f) of this section, an itemization of the services and corresponding costs for each of the settlement services required by the creditor for which the consumer shopped in accordance with § 1026.19 (e)(1)(vi)(A) and that are provided by persons other than the creditor or mortgage broker, the name of the person ultimately receiving the payment for each such amount, and the total of all such itemized costs that are designated borrower - paid at or before closing.