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BT Question

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ScoreOrBeScored
Valued Contributor

BT Question

when you do a BT, can the CCC/Bank/Lender tell that you did a BT to pay them or all they see is a payment was received ?

Message 1 of 5
4 REPLIES 4
Skye12329
Valued Contributor

Re: BT Question

The company sends the money, when the receiving company gets it. All it will say is Payment -$XX.XX
BK7 - 2/21
Cap1 QS - 2k (4/21)
Mission Lane - 4k (11/21)
Venmo - 900 (11/21)
SavorOne - 2500 (12/21)
VentureOne - 2000 (7/22)
Message 2 of 5
ScoreOrBeScored
Valued Contributor

Re: BT Question

Ok thnx, I was just wondering if they could tell it was a BT or nit.

Message 3 of 5
Anonymous
Not applicable

Re: BT Question

@ScoreOrBeScored,

 

On your side, it will show as payment but the bank/card that the transfer was made to knows exactly where the money came from - from their side also.

Message 4 of 5
scorewatcher7
Valued Member

Re: BT Question

in my understanding, both companies are aware. However, you're hopefully doing it to your benefit (lowering monthly payment, lowering APR, blah blah) so you shouldn't be concerned too much with the interpretation of the payment. I'm like you though, I don't want to rock the boat with any creditor... 

Message 5 of 5
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