 I am getting a secured credit card to improve my credit, is it better to get one 1000 limit card or 2 500..... |
| I am getting a secured credit card to improve my credit, is it better to get one 1000 limit card or 2 500 limit cards from 2 diffrent banks? What will look better on my credit?... |
|
 Is it good to buy things with a deferred payment until one year later? ? |
| I am considering buying furniture with a deferred payment. Why is it good or bad?... |
|
 How do I establish credit? |
| I have no credit and I'm trying to establish credit. I cannot get a credit card because I have no credit... All I have is a cell phone. Is there anything I can do to get credit so I can apply ... |
|
 Can i get a credit card to help my credit? |
| I have alot of bad accounts open and Im trying to pay all of them. How can I get a credit card to help me rebuild my credit, and which one should I get.... |
|
 We have an asset recovery firm harassing us to pay pennies on the dollar to settle a ten year old credit card? |
| This credit card is from an 85 year old with no income other than social security. No house, car or any other assets. Can they bring this to court?... |
|
 How do i sort out my credit rating? |
| been on experian, all i got was the print out of my credit history....all my old debt is now clear, but still cant get credit?? or finance, how do i get rid of bad credit?? is there a body/firm that ... |
|
 Would anyone recommend trying to claim back bank charges for late payments? |
It seems everyone I talk to knows someone who has got money back from their bank for charging them for late payments over the last 6 years.
Is it as easy as just writing to your bank??
... |
|
 Bankruptcy? |
| I was wondering if anyone has went bankrupt and what happen. My lawyer told me to max out all of my credit cards I have toys r us, home depot, lowes, visa and mastercard. If i do this will they come ... |
|
 Can credit removal agencies really remove bad credit? |
| Im in market to pruchase an house presently im at a 600 credit rating with no late payments for atleast last 2 yrs. All deliquent accounts have been paid. I've called several creditors having ... |
|
 How can I avoid my creditors? |
| I have lost my home, cannot pay my creditors, ( credit cards, loans, bills) and my ability to earn a living. How can I hide from the collectors?... |
|
 Paying off credit cards - which to pay on first? |
| To pay off my credit cards should I start with the one with the smaller balance or the one with the higher interest rate. I have 1 card with approx $350 on it. I figure if I pay this one off first, ... |
|
 I received a summons from a collection firm HELP!!!? |
| On Friday the 13th I received a summons from a company that bought my old visa debt from 1999 and they've filed a complaint asking for my original debt amount ( $1300) and an additional $4000 in ... |
|
 Credit question? |
| I Just paid off 2 credit cards on my credit report. When I called them, I asked if it will make my score go up(I would think paying off debt is a good thing) The lady at Equifax told me that they ... |
|
 My son owes $25,000.00? |
| My son who was a former addict, managed to open credit cards in my name and now owes 25 thousand which I have to pay because we share the same name. He managed to get a hold of my SSN and used it to ... |
|
|  |
Becky B | Credit score of 566, any suggestions on delinquent credit card debt? |
Keep in mind that this debt is several years old, will paying off some old accounts make it higher? |
 |
 
dmc177
|
And as for an answer without the judgemental attitude....
If you have not filed bankruptcy for the debt, the timer continues to push outward. Meaning that you will have the delinquent report on your credit for several more years now. Having said that, if you have no bad marks for two years, your credit score can start to increase nicely again.
Pay off what you can. Part of your score is based on credit used vs. credit available. The higher % of available credit you have, the better. Paying off the debt is the best way of doing that.
Dont apply for new credit cards. Inquiries can hurt.
Even if you dont pay off the balances, keep up on the minimums, or a few bucks more. This keeps the bad marks away, even though you may not be making any real progress on debt reduction.
Ive been in that same boat for a few years now. College credit cards are the devil!! We ended up having to file bankruptcy when the kids came, but did everything we could including killing off my IRA to pay what we could before even considering filing. (I kinda regret that now though). |
|
tennessee
|
no can reage it dont do that. it falls off after 7 years |
|
Rao
|
It will raise it very little as negative marks carry more weight and its harder to raise your score but if you every plan to buy a house or car or anything with a bank loan you need to pay these debts off if you can afford to.
Bank's will look at your whole credit report as well as your score. If they see you paid off old debt then they are more likely to be more lenient on their lending.
Also, the 7 year rule of old items falling is not true. It only falls off if that creditor decides to quit reporting to the credit bureaus. So, you can technically have this on your record for 10 years without it falling off. Best practice is to pay off any outstanding debt you have. Once, you have this cleaned up then it will be easier to raise your credit score. |
|
GUS
 |
Paying any amount on them will restart the aging process on these accounts and cause these accounts to suppress your credit score for many more years. If they were charged off several years ago you should let sleeping dogs lie. Don't listen to the do gooders on here. You're nothing but a number to the credit card companies. They charged these accounts off already. They moved on. You should too. Also, check the statute of limitations for your state to make sure they can't still sue you.
To get your score up, open a savings account and borrow against it. Get a secured credit card and make your payments on time. Buy a car on credit and make your payments on time. DO NOT pay on the credit cards unless they can sue you and garnish your wages. You can go to creditboards dot com and check the forums to see what the law is in your state. Good Luck. And please DO NOT pay anything on those credit cards. |
|
teresathegreat
|
Make paying off your credit card debt your #1 priority. This is a big, if not THE biggest, factor that's killing your credit score.
Go to the library and check out "The Complete Idiot's Guide to Money Management" or any similar guide. Offers lots of great advice on how to make this a priority and get it off your record as soon as possible. |
|
Stacy R
|
If you have accounts that are 7 years old and you live in the US, you can write the 3 credit reporting agencies and tell them the statute of limitations is up and they have to remove the account. |
|
Pravda
|
It will help you by knowing that you have paid your debt. As far as your credit score it will help along with good payment history on your current accounts. May, I suggest a site that can help you with your credit issues.
http://www.thecreditrepairmanual.com
Best of luck, |
|
seeitmiway32
|
Darling, as far as I'm concerned, if you bought the product, and did not pay for it, it's the same as STEALING.
Pay it off. Yes, it will help your score, if it hasn't already been written off and removed, but you are duty bound to pay it, anyway!
How would you like to get ripped off like that? |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
7 | 8 minutes(s) ago
| | | |
10 | 31 minutes(s) ago
| | | |
10 | 1 hour(s) ago
| | | |
10 | 5 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 10 hour(s) ago
| | | |
10 | 2 day(s) ago
| | | |
8 | 5 day(s) ago
| | | |
9 | 1 week(s) ago
| | | |
10 | 2 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
