 Credit Score? |
| Does it affect my credit score if I close credit card accounts I havent' used for over a year. I don't use them any more so I called them and had them closed. I still have at least 10 ... |
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 Cab husband be responsible for debt? |
Can my husband be held responsible in court for my credit card debt if he had no knowledge of the debt?
I am being taken to court for a credit card debt
Do they try to bring into court the ... |
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 How can I stop collection agencies to stop calling me? |
| I had a financial crisis a couple years ago when I lost my job, but am working now. I had a couple debts go into collections and they are calling me 10 times a day.... |
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 Credit rating? |
| my credit rating is really bad and am finding it really hard to get a loan my only option is to get one of the likes of yes loans and places like that do you know which one would be the best?? i ... |
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 When does Bankrupcy come off of your Credit Profiles.? |
| After your 10 years is up when does it come off your credit profiles. Will it be on the month /date you filed for Bankrupcy or the month/date you were discharged.... |
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 Having problems re-establishing my credit? |
| Hello, I am 27 years old and have problems re-establishing my credit. When I was younger I had problems managing credit. I really did not understand the consequences of how credit can affect your ... |
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 Ebay payment question? |
I'm new to ebay, and have just bought something for £30, plus postage of £5. I put through the payment a couple of days ago for £35 via paypal.
The seller is saying they've ... |
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 First Auto Loan? |
| Im going to my bank to try and get an auto loan. I dont have the best credit in the world, will it even be possible to get a loan from them? What exactly should I take with me (paper wise)? Anyone ... |
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 Does anyone know where i could get a loan without a checking account or credit card or no job or credit check? |
| hi does anyone know where i can get a loan without a checking account or credit card or job or credit check because i need to pay my bills ... |
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 Is there a website where you can view your credit report free, no credit card needed? |
| Every other website that says it can give you your credit report for free asks for credit card numbers( I don't have any cards) does anyone know of any that don't require card numbers? ... |
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 I got served a summons for an old credit card bill, do I have to appear in court for this? |
| I didn't think that credit card companies could do this. It's been like 4-5 years since I've seen or heard anything about this account. I disputed the charges years ago on my credit ... |
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 Great need of money.? |
| I need to find a guarenteed loan as I have no good credit its from years ago and I have learnt how to use money now and Im paying my way as you should do! However I have three loans due to end in 2009... |
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 My husband has excellent credit and i do not? |
| i only have fair credit from my mistakes years ago. we want to buy a house, can we just get a mortgage in HIS name? i don't have to be on it , do I??? my credit would surely screw everything up!<... |
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 Can you remove a collection from your credit report once it has been paid simply by trying to negotiate? |
| I received a letter from a collection agency stating that I had 5 days to pay an account or it would show up on my credit report. I complied and sent off a cheque for the balance immediately and it ... |
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 SO ..i have no credit and i wanna know what credit card and company is best for me? |
| im 18 and i need to build up my credit but i dont know anything about credit cards and all the stuff of apr??....so i wanna know which credit cards is the best one to have?... |
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2beautiful4wordz | Does bankruptcy help or hurt your credit? |
My mother is thinking about filing bankruptcy and I have heard so many conflicted stories about what it can do for your credit, some say good, some say bad..Please share your personal stories and experiences with me.
Thanks |
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SPIFIMAN1
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I went through this back in 2001 and it really depends on how you manage your credit after the bankruptcy.
True, it doe's show on your credit for 10-years and at first your score takes a huge hit 100-150 points depending on what makes up your score.
But, it also gives you a fresh start and there are several lenders out there that have bankruptcy programs for buying cars and getting credit cards.
I was lucky, I had a existing loan with Ford that I reaffirmed on and made sure they continued to report to the credit bureaus after the BK was discharged, this plus 2-credit cards that I got after the discharge allowed me to buy a new car 1-year later with no money down and 3.9% interest.
1-year later I bought a home with no money down, 100% financeing at 6.5% fixed interest.
Even though the BK still shows on my credit report, my score is over 750 and I can get any type of loan I want at the best rates.
So, like I said, it depends on how you manage your credit after the BK that really matters. |
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bdancer222
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Bankruptcy stays on your credit report for 10 years. It doesn't help your credit score. But is does give you relief from excessive debt and a way to start fresh. |
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Studly
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Let me clear up some of the bad info here.
Chapter 13 does NOT look better on your credit reports then a Chapter 7. Creditors do NOT care that you are attempting to pay back your debt.....it's still a bankruptcy to them. Therefore, if at all possible, you ALWAYS try to get Chapter 7.
If you plan to file bankruptcy, and IF you do it right and find someone who knows what they are doing, the impact will not be that bad. You can easily get credit again within a couple of years.
I'm working with someone right now who filed for BK13 2 years ago....they now have a 680 credit rating. It will be going up some more once the lawsuits we are filing are served...have a couple of creditors who refuse to update the credit report. |
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Lesley
 |
It is initially going to be negative on the credit, but at the same time will improve her debt to income ratio. She will be able to start rebuilding her credit right away and should be able to get back to a decent credit level after about 2 years if she is diligent.
She'll be able to get a very high interest credit card immediately after (people just emerging from bankruptcy get inundated with credit card offers due to the fact they can't file again for 8 years), so that is a good way to rebuild credit as long as she uses it responsibly (ie only spend as much as she can pay in full every month). |
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Sunny louise
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One thing that hasn't been addressed in your question is this,
has your mother tried to work out any form of payment aggreement with her debtors? Also, it shows that she is attempting to repay her debts. This also can be done, by trying Chapter 13. This doesn't wipe out the debts, but it gives her relief and time to repay her debts. Chapter 13 and Chapter 7 will always show up on your credit, but of the two and depending on circumstances if she could go the Chapter 13 route, they would set up a payment plan for her to pay her debts to the court in one payment a month. If she follows the agreement every month, she will show good intentions in resolving her credit issues and this will help her credit standing. I would recommend her talking to a credit counselor. They have a lot of good advice and can help her as well. I would try these things first before I took bankruptcy. If it's not workable, then may need to go the bankruptcy route. hope everything turns out okay for your mother. |
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wartz
 |
It is a hit, but it is also a fresh start where she can rebuild her credit without a bunch of old noncollectable stuff dragging her down. |
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gomanyes562
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Use your common sense. Do you think that filing for bankruptcy is going to want to make people lend you money?
Bankruptcy is one of the worst things for your credit score. Think very carefully before filing for bankruptcy if you want to get any major loans anytime soon. Bankruptcy stays on your credit report for 10 years. |
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girlygurl23
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It hurts your credit report for 10 years and then when you go apply for something, its hard to get loans b/c you are starting fresh and dont have much of a histroy. Then again,as much as I would advise against bankruptcy sometimes it is the bst option |
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bailie28
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you can forget ever getting anything again...it kills your credit it never truly goes away even after its discharged you get the high credit rate..its horrible if you can help her find another way do so |
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