 I have no credit but need a credit card??? |
| yeah so i have NO credit but i am trying to apply got a credit card. thank you.... |
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 Does anyone know how to get your credit scores without lowering your credit scores? |
| I'm trying to get a loan and everyone wants to run a credit check which I have always heard will lower my credit score. Is that true and if so is there a way to check my credit without lowering ... |
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 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... |
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 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 ... |
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 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 ... |
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 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 ... |
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 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 ... |
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 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 ... |
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 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 ... |
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 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 ... |
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 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?... |
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 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 ... |
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 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 ... |
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 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 ... |
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| 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 ... |
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 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?... |
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Jennifer K | If paying off collection accounts wont raise my credit score should I even bother paying them? |
I need to buy a home fast. I am a first time home buyer with a fico score of 620. I have 5,000 for a downpayment. I owe a few thousand in old collection accounts which are on my report. None of this is revolving accounts. Would I be able to get a home loan while oweing these or is that impossible? I read on my fico.com that paying these won't raise my score so whats the point? (I will pay them in the future I just need a house desperetly) Thank you for your help. |
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SPIFIMAN1
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This will be up to your lender to decide, some require all collection accounts to be paid and some do not.
As far as paying them is concerned, unless you can get a "pay for delete" agreement where they remove the accounts from your credit bureau in return for you paying them, then your right, there is no reason to pay them.
They will drop off on their own after 7-years from the date of first delinquency. |
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steven e
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no.waste of time. |
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robert w
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visit daveramsey.com to learn the hard lessons coming ur way from others mistakes.
when u 'need ' to buy anything 'fast' u are guaranteed to get messed up'.
slow down, keep renting until u understand what u are doing.
get a 'house buying for dummies' and read it. |
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Duane
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Before making this decision, talk to a lender and do your best to get pre-qualified. This decision will come up then and you know exactly where you stand. You also don't say how long that they have been in your reports, but negative items should drop off in 7 years.
In my experience after ID theft and bankruptcy, an option for you for a mortgage company would be Option One by H&R Block mortgage, but I got an ARM at a low interest rate for the first two years, but I'm expected to fight it out to get my score up before I got refinanced at the 2 year period.
However, I had a ton of errors in my reports that I challenged and disputed, so I got all but one of them off and still got my score up from 486 to 730 in a little over a year, so it's worth the effort to fight back if you find items in your credit report that shouldn't be there.
Go to my website and read it all because I'm sure you would find it useful. I'll post a link to annual credit report here too!
Tips, if the accounts have been sold to a collection agency, the original debtor will not be able to negotiate a settlement with you! If it is recommended you pay off the debt, get a delete from credit report agreement in writing!!!! |
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Bruce T
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I was in the mortgage industry for a number of years and now do nothing but real estate. Most important, have a mortgage consultant review your report and determine items in collection, if any, to be paid. Consult a mortgage broker versus a bank. Why? Mortgage brokers with your circumstance traditionally have more lenders to shop and should be able to get your best rates.
Homes loans with the collapse of the sub-prime market have become more difficult to obtain, but possible, at 620. Other determining factors or ratios are considered as well, i.e., debt-to-income, employment, Federal Tax filings, etc. A mortgage broker will meet with you and discuss your options. They can also direct you in improving your credit.
Most first time home buyers don't think about the costs to do the loan, i.e., closing costs, taxes due, homeowners insurance payable at closing, etc. Many entities come into play but can be negotiated.
Around the North Atlanta area builders are struggling. Stop by a new subdivision in your area and talk to them as well. You may find a home and home loan made possible with the builder's lenders.
Hope this info is helpful and good luck. It is wonderful to have a home you own. |
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bettyrubleinspurs
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Skip dealing with the collection agencies and pay the companies directly. The companies would rather get the money from you than the collection agencies anyway. As far as the downpayment goes, use it to pay off what you owe before you buy a house. |
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Steve M
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I don't think you will be able to get a house if you have unresolved debt on your score. It would be best to pay off your debt and that way you can get that monkey off your back. |
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pemberton561
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The longer you let these accounts sit the harder it will be to get the loan your trying for trust me I know from experience. I paid all of mine off and now my credit is pretty good. unfortunately it does take some time. when you pay one off request the company to remove it from your report. this will help. |
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Dont Forget To Bring a Coat!
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If you cant afford to pay off old bills dont even bother with a mortgage. |
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Edward G
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Rent! |
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