vania-janet/multiturn-rag-retrieval-data huggingface dataset:
You havent signed a contract, so you are only an authorised contact so you have nothing to worry about at all.  Your credit reference can only be affected if you are a signed party on the contract.  I would imagine that they wont remove your details as you may assist them by contacting your emplorer, and effectively chase the debt for them especially if you seem to be family member or a friend of the business owner. How did you find out about the debt, did they phone you?  If you really want peace of mind, you could write to them and confirm that you are not authorised to be contacted by phone or in writing regarding the debt, and that you are not in anyway liable for the debt and that your contact details must be put beyond use, and as you are concerned, say that if they take any further action against you such as affect your credit ref etc then you will take them to 'your' local magistrates court to seek compensation.  Use strong terms and insist they must do what you ask rather than just say that you would like something done etc.  Say that you 'Will' take further action which is generic, and that you 'May' do specific things so that it sounds strong but you haven't have committed to any thing in particular.  This would most likely be more than enough to stop further contact.
If you want to close the card, close it.  The impact on your credit score will be minimal, if any, and the impact on your life will likely be even less.  First, as you noted, the history from your card does not disappear when you close the card; it will stay on your credit report for as long as 10 years. By that time, you'll have many years of on-time payments from your other cards, and the loss of this one card won't be significant.  Because the card has a low credit limit, it won't have much effect on your credit utilization numbers, either.  Finally, your credit score might just be high enough that a small drop will have no impact on your financial life whatsoever.  In my opinion, hanging onto a credit card you don't want just to try to attain some type of high score is pointless. Close the card.
"When trying to understand accounting, it's always helpful to reference the balance sheet identity, thus , and debits and credits must balance. In this case, one would So that ""Cash"" is subtracted (credited) from assets, and ""Loans to family members"" is added (debited) to assets. The income identity is treated differently as So, unless if the ""Cash"" and ""Loans to family members"" did not start imbalanced, there was no revenue or expense.  A revenue will be any interest paid.  The expenses will be any costs related to loaning the money such as drafting a contract or any amount defaulted. Assets are not liabilities A liability on the balance sheet is a liability owed by the entity measured, such as a person or a company. The family members in this case are the borrowers, so they are the ones who must increase their liability accounts like so: The lender to family members would not increase liabilities in this case because the lender is not borrowing from the borrower. Debits, credits, and the balance sheet Debits & credits must be equal, or an identity is violated. Debits add to assets and subtract from liabilities (and equity) while credits subtract from assets and add to liabilities (and equity). If a lender were to try to simultaneously subtract cash from assets and add loans to liabilities to book a loan, the operation would look like this This would cause an immediate imbalance because there are no offsetting debits, but more importantly, crediting Loans to family members as a liability would actually mean that the lender owes Loans to family members."
Agreed. I had a relatively fresh (five years old) Chap. 7 bankruptcy on my record when a potential employer ran a credit check prior to employment.   When I signed the form OKing the check, I told them what they'd find and said I was happy to explain it. I wrote a letter, they put it on file for the insurer (I needed to be bonded for this job -- I was co-signing six-figure checks) and it was fine.
Keep in mind collectors are trying to get you to react emotionally, which is having some effect as you are considering bankruptcy.   ...threatening me with judgments... Did they threaten to take away your first born son too?  Many of their threats are empty.  Even if you do have a judgement, you may be able to negotiate with the lawyer that is handling the judgement.  Once you don't pay them anything for a few years, they are more likely to negotiate. It is good that you recognize that it was your dumb decisions that got you into this mess.  Once on the other side of all this cleaning up that you have to do what will you change so this does not happen again?  What raises a red flag for me is that you are worried about your credit score.  Trying to have a good credit score is what got you into this mess in the first place. Stop borrowing.
"I was I a similar position as you, and sometimes credit bureaus might be difficult to deal with, especially when high amounts of money are involved. To make the long story short, someone opened a store credit card under my name and made a charge of around 3k. After reporting this to the bureaus, they did not want to remove the account from my credit report citing that the claim was ""frivolous"". After filing a police report, the police officer gave me the phone number for the fraud department of this store credit card, and after they investigated, they removed the account from my credit. I would suggest to do the following: Communicating with Creditors and Debt Collectors You have the right to:  Stop creditors and debt collectors from   reporting fraudulent accounts. After you give them a copy of a valid   identity theft report, they may not report fraudulent accounts to the   credit reporting companies. Get copies of documents related to the   theft of your identity, like transaction records or applications for   new accounts. Write to the company that has the documents, and include   a copy of your identity theft report. You also can tell the company to   give the documents to a specific law enforcement agency. Stop a debt   collector from contacting you. In most cases, debt collectors must   stop contacting you after you send them a letter telling them to stop.   Get written information from a debt collector about a debt, including   the name of the creditor and the amount you supposedly owe. If a debt   collector contacts you about a debt, request this information in   writing. I know that you said that the main problem was that your credit account was combined with another. But there might be a chance that identity theft was involved. If this is the case, and you can prove it, then you might have access to more tools to help you. For example, you can file a report with the FTC, and along with a police report, this can be a powerful tool in stopping these charges. Feel free to go to the identitytheft.gov website for more information."
Absolutely nothing will happen. These credit history companies have no scruples and no reason to give a damn about consumers. Every recourse you have to fix inaccuracies in your credit history were won with legislation or litigation.  They don't care about you.
"No. Credit card companies will typically not care about your individual credit card account. Instead they look either at a ""package"" of card accounts opened at roughly the same time, or of ""slices"" of cardholder accounts by credit rating. If an entire package's or slice's balance drops significantly, they'll take a look, and will adjust rates accordingly (often they may actually decrease rates as an incentive to increase you use of the card). Because credit card debt is unstructured debt, the bank cannot impose an ""early payment penalty"" of any kind (there's no schedule for paying it off, so there's no way to prove that they're missing out on $X in interest because you paid early). Generally, banks don't like CC debt anyway; it's very risky debt, and they often end up writing large balances off for pennies on the dollar. So, when you pay down your balance by a significant amount, the banks breathe a sigh of relief. The real money, the stable money, is in the usage fees; every time you swipe your card, the business who accepted it owes the credit card company 3% of your purchase, and sometimes more."
It appears all you have to do is submit a form. It might be better if she submitted it herself instead of you doing it on her behalf.  All natural persons (individuals) and non-natural persons (businesses)   are entitled to access and inspect the data held on record about them   in the Central Credit Information System (KHR).
Capital One's normal master card is known to approve people with limited or bad credit history. If not that look into a secured credit card.  You put down a deposit of $200 or more and you get that much in credit, sometimes more.
Same thing as for any debt: bank sues you, you lose, you are in an even deeper hole because you now owe them for the cost of the court case, your credit rating goes into the toilet, you may even have trouble retaining/finding a job. Being stupid is always more expensive.
As a side note, your primary doctor would likely rarely ever bill you for a more complex visit, as it likely wouldn't lead to much repeat business. As for your last question regarding your credit: if the provider decides to lower the price, and you pay the lower price, this in no way can affect your credit. Surprising Update: When I called the billing office months ago, I had asked if they could confirm the code with the doctor, and I was told they would look into it. I never heard back, never followed up, and assumed that was the end of it. Well, today I got a call back (months later) and was informed that they had re-coded the visit which will result in a lower charge! It's still pending the insurance adjustment but at some point in the future I expect to receive either a credit on my next statement or a check in the mail. (The price difference pre-insurance in my case has gone from $359 to $235.) Update: I did receive a check for the difference. The check was dated July 20, 2016, which is just over 2 months after the phone call informing me I would receive it.
A synthetic position mimics the payout of a financial instrument.  Synthetics are attractive when the liquidity/availability of an instrument is low or there is a mismatch in fees or values of the synthetic's components which could lead to arbitrage.    In speculative trades, the seller of a CDS takes a positive view of the credit worthiness of the underlying security.  The buyer of a CDS has a negative view of the credit of the underlying.    So in this example, there is a limit on buying or shorting corporate bonds by how many bonds the company has issued, and the value you have to invest in the bond itself, so if you wanted heavy exposure to this company's credit; you would be limited by how many you could buy.  Whereas with a CDS you can mimic the performance with a synthetic position; and as long as there is someone to take the other side of it, you can buy or sell however many you want and have more exposure than the debt the company issued would allow on its own.  Hope that makes some sense.
Over time, you'll have more loans, maybe a few store cards, mortgage, car loan, etc.  I'm a fan of maximizing one's wealth, and the small rebate/reward adds up over time, so I'm not against the store cards, so long as you always pay the bill in full.  As far as FICO is concerned, what they 'like' to see may not necessarily be optimum for you. I'd suggest you go about your business, and over time use the few cards that combine to give to the best benefit combination that works for you.
"I second what ""powercow"" and ""Osetic"" said.  I switched away from Wells Fargo to Patelco (Pacific Telephone Company, i'm in the bay area).  They are world's better.  My biggest issue with WF was the overdrafts, how much they charged, and the way in which they processed incoming transactions (which they are being sued in a class action for, btw).  I had my new account setup so it could never overdraft, it would just decline.  In my first month with Patelco, I ordered checks.  When that charge processed, it dipped my account into the negative due to it being an internal CU charge and their system not performing all the checks/balances first.  They called me about 24hrs after it happened to let me know:  * How sorry they were * That they would refund me the amount of the checks * That they added $10 on top of the refund to ensure I understood it was a mistake * If there was anything else they could do to make the situation right  And like others here, I have shorter lines, more helpful tellers, a more inviting atmosphere, oh and free coffee.  You gotta find a better CU, yo"
Tell your broker.  You can usually opt to have certain positions be FIFO and others LIFO.  Definitely possible with Interactive Brokers.
" Forget about the shoe guy. When buy something on Amazon marketplace and charge it on a credit card and then get paid via direct-deposit and then have the money taken from your account to pay off the credit-card company electronically, is all of that real money? Of course it is. Now, what happens if you die before paying the the credit-card bill? Does that mean that the money Amazon paid to the seller doesn't exist? Does that mean that money paid by the CC company to Amazon doesn't exist? How about the money in your bank account, does that exist? What if your employer once defrauded someone, how about then? None of that money has ever been *printed*, nobody got permission from Ben Bernanke to authorize these transactions, but the money that changed hands was absolutely real, even though it was nothing more than a *series of promises.* Before you argue with me, think this through: all these account-transfers ultimately boil down to *promises* by the end bank to produce cash when and if the account-holder walks up to a teller and demands it. The bank doesn't have nearly enough cash to pay every account-holder, but they *do* have enough (hopefully) to keep their promises, since they know they won't all be called in at once. Nobody ever actually delivered a package of paper currency to cover these transactions. Everyone is just trading promises, and passing those promises along to others. It sounds crazy to say it that way, but it is *absolutely* true. Tally up your net worth (or if that's too ugly, imagine tallying up someone's net worth who has a net worth). Chances are that you have never in your life seen that amount of paper cash, certainly not in your physical possession. So who has it? It's not like your local bank branch has a box marked ""C_B_M"" with $400,000 in bills and coins sitting there. What you have is a series of promises. When your employer gets by credit-card, the customer promises to pay the credit-card company, who promises to pay your employer's bank. Your employer then pays you with a direct-deposit whereby his bank promises to pay your bank.
Michael Pryor's answer is accurate to the actual question asked. The current accepted answer from Dheer is not entirely true but roughly provides an overview of the different entities involved in a typical transaction, with some wrong terminologies, corrected and improved below.  The issuing bank, the one that issues the credit card to the customer. When it comes to the service fee split, the issuer bank takes on the majority of the cut in the service fee paid by the merchant to the different entities. For example, on a 2.5% overall fee paid by merchant, roughly 1.5% goes to the issuer, 0.3% goes to the card network (visa, master card, etc) and the remaining 0.7% goes to the acquiring bank. Reward programs have a partnership with participating merchants, where merchants are charged a higher service fee, for the likelihood of driving a higher volume of transactions to the merchant. A portion of the rewards also comes from the issuer, who shares a percentage of their fee back to the customer, in exchange for the same likelihood of making more profit through increased volume in total transactions. For example, a reward program may charge merchants 4.5% fee, with 3.5% of it going to the issuer. Upto 3% of this can be given back to the customer for their loyalty in using the card service. The banks can afford to take as little as 0.5% instead of their regular 1.5% due to the increased volume of transactions and the fixed fee they collect as membership fee. Note that costco has a similar business plan, but they make money entirely of membership fee. So with enough clients, banks can theoretically afford to run their program entirely on membership fees, costing no additional service fee to merchants. The service fee depicted above is arbitrary, and it can be lowered if the merchant is also a client of the issuing bank, that is, both the issuing bank and acquiring bank are the same. So it is kind of a win-win-win situation. And as usual, the banks can afford to make a larger income, if the customer ends up paying interest for their credit - although the rewards program is not designed accounting on this.
Do you know how SoFi's business model works? They're usually pretty conservative with their loans and refinancing. But I guess if they were looking to expand into riskier loans then it sounds like they've got some red tape that'd hold them back. Thank you for the explanation, much appreciated.
My bank will let me download credit card transactions directly into a personal finance program, and by assigning categories to stores I can get at least a rough overview of that sidd of things, and then adjust categories/splits when needed. Ditto checks. Most of my spending is covered by those. Doesn't help with cash transactions, though; if I want to capture those accurately I need to save receipts. There are ocr products which claim to help capture those; haven't tried them. Currently, since my spending is fairly stable, I'm mostly leaving those as unknown; that wouldn't work for you.
The answer today is the Fidelity Rewards Amex.  This card pays the highest cash back (2%) on ALL purchases. The answer gets more complicated if you like miles, or you want to use one card for groceries and gas and another for restaurants, etc.  But the Fidelity Amex gives you 2% on everything you purchase, automatically deposited into your Fidelity account as cash (no coupons to rip off, or checks to deposit).
Virtual Credit Card: It there something like virtual credit card? Yes there is. We have banks in India HDFC and Kotak bank that allows you to generate a virtual credit card which could be used for payments on websites. These cards are one time use cards and will expire as soon as you use it once. The mail objective behind such virtual card service is to protect the actually card information to be shared on websites. Take a look: Its call Netsafe and remember HDFC is a very reputed bank in India Moving further about the company Entropay. Take a look at the website. Most of the information you need to know about the company starts from the website data: Lets take a look at the contact us page: Any company that deals in financial services business has to be registered under financial services authority of the country they are doing business in. This company is based in Malta and should definitely be registered with Malta Financial Services Authority (MFSA). The company claims that they are registered with FSA under license registration number 540990. Sounds great everything is perfect but just to make sure I thought of taking a look at the MFSA website on the activity of the company. Here's a link: http://www.mfsa.com.mt/ Under License Holder Tried searching for the company Ixaris Systems Ltd. and here is what I found: There was no record of the company on the MFSA database. I even tried not searching and looking into the complete database but no such company on the list. By the way look I found Western Union there: What I mean to say here is only one thing. Any company that deals in financial transactions need to be registered with the local financial services of the country they have their physical address in. If suppose western union is an american company with physical existence in 100 countries they not only have to be registered with Financial Services Authority in US but also in every other countries they have their physical address in. I know many of you will still argue that it has a valid verisign logo which means it's a company with physical address and its been verified. But please remember its very easy to fool those verisign guys coz almost every verification is done online.
"We *are* talking at cross-purposes, but not for the reason you think. The debt might or might not be legally or practically recoverable (the apple-farmer and everything he owns might have been destroyed in the fire), but the value created and destroyed was real, and so was the money. You're focusing on the debt owed to the shoemaker, which is fine, but your mistake is thinking that the debt is in some way meaningfully different from money, which it's not. Most people who try to explain this difference would go off on a spiel about how the overwhelming majority of money on deposit in banks and otherwise in circulation has never been printed, or something, which is okay, but it's not a very convincing argument because you'll come back with something like, ""But I can still withdraw all my money, I can still cash all my checks, etc..."" So instead, I'm going to try and break this down, bear with me... The apple-grower got a deer (worth 12 loddars, let's set the ""interest"" part aside for the moment). I got a pair shoes (also worth loddars). Forget about the shoe-maker and the debt for a moment, and focus on me. I sold a deer, and I used the proceeds to buy a pair of shoes. - Did I defraud anyone? No, I engaged in a fair transaction with willing partners on both sides. - Did I get paid for the deer? Obviously I did, because I used the payment to buy shoes. - What did I get paid with, if not money? I can hear you saying ""yeah, but the shoe guy..."" Forget about the shoe guy. When buy something on Amazon marketplace and charge it on a credit card and then get paid via direct-deposit and then have the money taken from your account to pay off the credit-card company electronically, is all of that real money? Of course it is. Now, what happens if you die before paying the the credit-card bill? Does that mean that the money Amazon paid to the seller doesn't exist?
Yes this is possible. The most likely tool to use in this case would be a Home Equity Line of Credit (HELOC). This is a line of credit for which the full amount is backed by home equity (difference between market and book prices). Most likely your financial institution will apply a factor to this collateral to account for various risks which will reduce the maximum amount that can be taken as a line of credit. https://en.m.wikipedia.org/wiki/Home_equity_line_of_credit
Yes, you did. To give an example of the contract terms that allow this, the [Capital One credit card agreement](https://www.capitalone.com/media/doc/credit-cards/Credit-Card-Agreement-for-Consumer-Cards-in-Capital-One-N.A.pdf) states:  &gt; Credit Reports &gt;  &gt; We may report information about your Account to credit bureaus and others. Late payments, missed payments, or other defaults on your Account may be reflected in your credit report. Information we provide may appear on your and the Authorized Users’ credit reports. &gt; &gt; If you believe that we have reported inaccurate information about your Account to a credit bureau or other consumer reporting agency, notify us in writing at PO Box 30281, Salt Lake City, UT 84130-0281. When you write, tell us the specific information that you believe is incorrect and why you believe it is incorrect. &gt; &gt; We may obtain and use credit, income and other information about you from credit bureaus and others as the law allows.
While @BrianRogers makes some good points, there are a few things you need to consider from the FICO perspective that I want to lay out simply for you: