 Shouldn't a debt that I haven't been able to pay be showing up on my credit report? |
| Several months ago, I hit some major financial troubles causing me to fall behind in paying an unsecured debt. They refuse to work with a credit counseling service and demand the balance in full and I... |
|
 How do I start to rebuild my credit? |
| I am a thirty seven year old man that has made some mistakes in my past and frankly if I start to repay all of my creditors at once I won't be able to eat ramen noodles till next July so what do ... |
|
 Help please,weve got a secured loan? |
| and the apr is 31%,,we borrowd 5k,,,is it possible to take out another loan at a better rate and pay the 1st loan off,ps we are in the uk,,,thanks for any ... |
|
 I have $7K in credit card debt how do i get a consolidation loan ?? |
| About $7K in credit card debt. my credit score is very poor around 450. I cannot get approved for a consolidation loan, i dont own a home to take out a 2nd, im living pay check to pay check. I really ... |
|
 How did you get your credit started? |
i'm having a hard time starting my credit. I just need some ideas what works good and what doesnt.
The do's and donts about starting ... |
|
 Will my bad credit count if i'm out of the country? |
| I have 2 credit cards in UK and owning them few hundreds pounds and sometimes missed the payment. If i stop paying it and leaving these debts behind and back to my home country . Will this bad ... |
|
 I was late on my mortgage payment... can my mortgage company remove this? Would it be legal? |
I was late on my mortgage payment (biggest mistake EVER!!) I have been sending letters to them for months, trying to figure out how to remove the "late" on my credit.
They keep ... |
|
 Should I pay this credit card charge? |
| One of my relatives who was living with us recently left the U.S. and went back to his country. I don't think he will ever return. But his credit card bills still arrive at my house. He is being ... |
|
 Can i write a check on an overdrafted bank account? |
| if my bank account is overdrawn and i want to write a check to pay for something, will the store be able to run the check through?... |
|
 Eviction serious answers only? |
| I am currently in housing court , in an eviction process. I have tried everything under the sun to try and get the money to pay arrears but have had no luck and i am going to be evicted out of my ... |
|
 How can a $3,000 credit card become a $13,000 law suit? |
| My boss had a credit card 4 years ago for $3,000 he didn't pay. Now he has a civil suit against him for $13,554.37- is it legal to do this? Isn't there some cap on how much interest they ... |
|
 Death and debt? |
| My mother passed away and left behind a 16,000 credit card debt. Who is responsible for paying this debt? Does it die as well. My mother was a house wife...my father works out of the country and ... |
|
| What bank in the United States allows a 16 year-old to get a visa check card or similar? |
| I want to get a Visa check card, but all of the banks I have called have said "Come back when your 18". This is extremely frustrating. Do you know of any banks that let you have one while ... |
|
 Can a collection agency or law firm attempting to collect a debt harrass family members? |
| A collection agency and a law firm continually contact my parents (with whom I havent lived for over 20 years). Their phone number is unlisted. My father has even been cursed at. Is this legal?... |
|
 What does Cash on demand mean? |
| I have a credit card and it says that it has cash on demand. What does that mean?! Thank you in advance........ |
|
| Should I pay debt collection or ignore? |
| I had a cell phone a couple years back that ended up going WAY over my plan minutes due to work use. Work agreed to pay their share, then bailed. The cell company cut off the phone and wanted the ... |
|
 Will this affect my credit? |
| My dentist thinks I owe him $100. I disagree. If he reports to a collection agency, will that severely harm my credit even though I don't think it's my fault?... |
|
|  |
eripapito | If I pay off some of my credit cards but don't close the acct, is that will increase my credit score? |
Please help! |
 |
 
fosteroif
|
Yes it will. Closing the account may actully decrease your score. Having a low or no balance on your cards shows your responsible and it'll increase your score. |
|
Brown-eyed girl
 |
It is best if you have just a few credit cards and just put a very small amount on that you can pay off each month. |
|
Mrs Ed
 |
Yes. Never close the account. Your score is better when you have used little or none of your available credit, so keep all your paid off accounts open, and pay down all the others as low as you can to increase your overall score. |
|
Tryingthisout
|
I have had many questions regarding repairing my credit in the past. Since my credit was not good, I was only approved for very few credit cards. In order to increase my score as much and in as little time as possible, I consulted with the officers of my local credit union. Their advice was to keep 1/3rd of your available balance used. This shows that you are not resorted into maxing your credit cards to make it by, but you are still using it enough to show responsibility. Each month when you charge something additional, pay it off with your monthly statement. Your credit balances are checked for your credit report once per month, and it may be at different times, when they pull your report you would like to show that you have been making use of your cards, but that you also still have lots of available credit. Also keeping those cards open with some available credit shows that you could, but are not resorted to, using them. I've been doing this, along with paying extra attention to pay more on other things like furniture loans, and car payments, and its raised my score quite a bit!! :) Good luck! |
|
2boys2dogs2birds
|
No. Paying them off will help. Then once paid off, buy something small every month...like gas...then pay it off. This increases your score. Having open accounts and timely payments. |
|
beauty s
 |
yes this will help your score, and from no on pay all bills on time |
|
Jim Shorts
 |
yes. plain and simple, a portion of your credit score is also determined by how long your cards have been open - credit history. |
|
Olivier W
 |
Yes, it will increase your credit score.
However, if you were to close your account, you would increase your credit utilisation score (debt amount/ available credit limit), since the credit limit of that card would disepear - that would negativelly impact your credit score.
I have access to a FICO simulator at Washington Mutual ; here is what it says:
"Please note this is a simulation based on common behavior that can affect a FICO score. These simulations are NOT reflective of or based on your actual FICO score. Provided by myFICO®.
If the starting FICO score was: 670
Then, based on this action the simulated FICO score could be in the following range:
710-750
How revolving accounts (credit cards, department store credit cards, revolving lines of credit) are managed is heavily weighted in the FICO score. FICO scores evaluate revolving accounts in a variety of ways, including comparing balances to available credit, as well as looking at the number of accounts with a balance. A general rule to remember: consistently carrying lower balances on revolving trade lines will generate positive points for a FICO score.
This simulation was based on paying down $1,500 of overall balance.
(Remember that even if credit cards are paid in full each month, the balance shown on a credit report may not be $0. Instead, it will reflect the account balance at the time the lender supplied the update to the credit reporting agency.)
Bottom Line: Managing revolving credit responsibly can positively affect a FICO score over time." |
|
linda
|
NO |
|
Andrea B
|
Closing a few accounts at once can actually hurt your score because it can reduce your credit history and increase your debt to credit limit ratio. Just charge something small and pay it off every month and your score will increase. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 12 minutes(s) ago
| | | |
10 | 39 minutes(s) ago
| | | |
6 | 1 hour(s) ago
| | | |
10 | 6 hour(s) ago
| | | |
10 | 8 hour(s) ago
| | | |
10 | 9 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
10 | 5 day(s) ago
| | | |
10 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
