 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 ... |
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 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?... |
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 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, ... |
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 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 ... |
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 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 ... |
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 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 ... |
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 What's the best(most efficient) way to start credit up in your own name? |
| I've never had my own credit before, and this is why I want to know.... |
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 How do I pick a good bank? |
| I'm in a federal credit union and they keep taking my money. I'm paying over $32 in over draft fees when I supposedly have overdraft protection. Half of the time, when I am overdraft, I ... |
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 When having a credit check carried out how far back are they checking history? |
| Having a credit check carried out by the letting agency which im applying for to rent a flat. Worried about failing the credit check, does anyone know how far back they check when doing this and what ... |
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| if you can not get a loan becouse youve got bad credit rating and you have also tryed asking the council for a payment plan and theve ... |
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 How do i settle a bad debt that has more than tripled since going into collection? |
| I have been in contact with the collection agency and they said they would settle the $18,000 debt for $11,000. I do not have $11,000 nor am i able to get a loan. Is working with a debt consolidater ... |
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 Ever stop paying a Credit Card? |
| A relative of mine has stopped paying his various credit cards. He owes over $10,000 and has reached a point he can no longer afford to pay even the minimum payment on his cards so has decided to ... |
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 How do I get negative things off your credit? |
I have negative items on my credit: collections, inquiries, and delinquint account I have paid some off but my score doesnt go up and on some off them it went down how do I get these off my credit
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John B | 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? |
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K.C.
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Not good...you'll have interest up the a**....I deferred a car payment for one month and I had a whole lot of interest to pay----my next car payment didn't even go to principal it went all to interest....so with that said if you're deferred one year ---- it'll take you twice as long to pay down your principal balance you'll be making payments primarily to interest....If you can afford it pay them monthly or whatever the agreement is without it being deferred!! It's not worth all the extra $$$ for furniture |
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heybulldog
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for one thing you don't know where you are gonna be financially a yr from now. Basically you have borrowed money and are behind until it is payed.
If you save and pay for it. Then you don't have to worry about it. |
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Jay
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Ask yourself: how will I have the money in one year, if I don't have it today?
If you don't have a specific and surefire way of having the money, then it's a bad idea. As we've seen recently, many people assumed that they'd have money to pay mortgages and other forms of credit... only to find that the money they expected to have never came about (or was spent some other way).
However... if you have the money today and the deferred payment comes without interest (or a VERY low interest rate, like 1%), then this can be a good deal. Put the money, today, in a savings account (at 3% or so) or into a CD or other "sure thing." Then, when the bill comes due, withdraw the money. You'll have made a small bit of money on the deal. (Ignoring inflation) |
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Sandy Sandals
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Deferred payment plans sound good but there could be some price gouging involved. Think about it, the why would a business offer such a thing unless they knew they were going to make more money in the long run? Plus there's no guarantee that you'll be in any better financial position in a year.
For something like new furniture, I would save to purchase it. |
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Mary P
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Companies wouldn't offer deferred payments unless they were sure that most people wouldn't pay on time, so they will collect mucho bucks in interest. Either pay cash now if you can, or wait. |
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Mark B
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It is probably not a good idea. The reason we are in this economic mess is because of exaclty that; deferred payments and loans.
Mark |
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Judy
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If you pay cash, you can knock out up to 20% of the cost.
I bought a mustang, brand new off the lot, for 13,000 cash. The power of cash is amazing.
They will not let you walk away, go near the end of the month, when they need to turn their sheets in.
Don't listen to Nelle down there. These are the people that just because you can get free financing they buy things. It's that QVC easy pay mentality. Next thing you know you have 10 things due, and can't pay them, then you take out equity. Then trouble. Save for what you want. |
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skpd
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It's free money if it is at 0% IF you pay by the date !
By it, finance the $2k at 0% for one year and deposit the $2k in a high interest bearing online account (emigrantdirect, ing, hsbc), make free money on interest on that 2k and then before the year is up pay off your furniture. This way you make sure you have the money available to you to pay it off at any given time and you also make some extra cash for free.
Free money can make you or brake you ! (winning the lottery applies here too)
It all depends how responsible you are !
Knowledge is Power ! |
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NelleH
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It depends on you. I love deferred payments. That is how I've bought most of my big appliances and furniture. I would recommend buying using deferred payments ONLY if you are going to finish paying the total bill before the year is up. That way you save on interest and can pay whatever you like when you like. This is beneficial because instead of a loan where you are being charged interest monthly and have a minimum payment, with deferred payments you don't have to pay a thing until a year later. HOWEVER, If you don't pay until after the deadline you will incur all the accumulated interests during the past year. |
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miko
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If you sre a very disciplined person it can work to your advantage. As long as the deferment is intrest free then it can work to your advantage. However, I would pay a third of the full cost up front...divide the remaining balance over the remaining months. Still pay monthly! |
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