 Bad credit help!! experiences expertise please. process of a loan and is comfused!?!? |
| Hello fellow members, I am actually looking through this one company www.eastpointlending.com trying to get a personal loan and I have been working with one of the consultant. I have gone over the ... |
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 Credit Cards? |
| I owe two credit cards and they are about 1400 each there is one that charges more interest than the other one. So my question should I pay them equally or pay more money to the one that has the ... |
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 Will this fix my credit? |
| I am 19 years old and just recently checked my credit score. I have nothing on it except one colection agency balance. It is a balance I owe from 6/1/2004 for $125. My credit score is very low 568. W... |
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 I want to get a mortgage but been refused as i dont have credit? |
| i would like to get a mortgage but i have been refused due to bad credit - i have 1 default thats it! my problem is im trying to build a credit rating for myself as i dont have 1 im only 19! are ... |
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 Where on the back of my credit card do I sign? |
| I just got my new Visa credit card in the mail...and I'm wondering if I have to sign the back of it or anything since in part of my mail it says "sign the back of credit card to verify"... |
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 Credit card minimum purchases? |
| Two stores where I live have signs up that say they won't accept a credit card purchase if amount is under 3.00. Is this legal? This is Alabama.... |
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 Credit Collections - Who Do I Pay? Collector Or Creditor? |
| I was involved in a hit and run motorcycle accident, I was hit by another bike while riding mine. Now I have 2 collections medical bills that made it's way onto my credit report that I refused ... |
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 I have bad credit!? |
| i dont know my score but it isnt good, at all! what can i do to start repairing this? i am already paying off debits, i have 3 of 5 paid off, but that alone work, what else should i do? i was ... |
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 What's the best way to pull yourself out of a huge amount of credit card debt? |
| Let's just say your buried, and your not able to pay more than the minimum every month...is there a better way?... |
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 My nephew is letting his house go into foreclosure as his payment is adjusting and he can no longer afford it. |
| My question is can the mortgage co. come after him later for the difference in what is owed and what they sell it for. PLEASE answer as soon as possible.... |
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 What are some things that I should know about and consider when getting my first credit card? |
Hey everyone--
I am needing to apply for my first credit card soon to start building some credit. What are some things that I should know about and consider when I am doing this? I am ... |
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 Whats the best way to pay credit card bills in order to obtain the best possible credit score? |
| okay, long story short... i just turned 18 and i need to get a car. i can't do that without getting a loan and i can't get a loan without credit (my parents won't cosign). i was ... |
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 Question about about bad credit and apartment applications? |
This place I want to live says they use a company called "safe rent"
I have a fica score of 541 does anyone know if I will pass the safe rent system. I have never been evicted.<... |
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 Credit Card Debt? |
| I have about £6000 of credit card debt from about 3 years ago. Neither company have attempted to contact me about paying this back (although I have moved house, jobs, contact details etc since that ... |
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rob1963man | What is the difference between Bankruptcy and...? |
With a (very) low credit score, no financial institution is willing to help me with a consolidation loan based on signature (I have no assets to use as collateral). After having lost my job and having my vehicle stolen I am no longer able to satisfy my credit card payments which have gotten out of control and it is unlikely I will ever catch up to them. They're way too high and piling up.
My credit score is way too low and 4 banks have already turned me down for a loan. Each time I apply it affects the Beacon score even more.
I've contemplated filing Bankruptcy.
My question is: If I don't file Bankruptcy and just ignore my bills, what is the difference? My credit couldn't go down any more than it is. It's in the 400's range already. |
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jeffs_wife_ali _&_adams_mom
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In Canada, bankruptcy is often referred to as "winning the lottery". The first time around, at least.
It does essentially wipe out all your debt, but the chances you'll suddenly have banks wanting to deal with you are very slim to none. The laws here are a little different than the American ones, but, six months after declaring bankruptcy, you could conceivably have a 700+ credit score (that's no joke). It's a flaw in the credit reporting system, but it does point out how inaccurate Beacon scores can be. Getting a high score so soon after going bankrupt doesn't actually fool anyone -- particularly a bank -- if they know what they're looking at when they pull your bureau. You would still have to work very hard at re-establishing your credit if you declare bankruptcy.
That being said, letting your bills go is no picnic, either. Phone calls. Collection agents. Getting your wages/bank accounts garnished by court order. People calling your neighbours, relatives, and friends to ask questions about you. It's like allowing yourself to be persecuted. Ick. And your credit will not get any better, and you won't be able to build it up. At least with bankruptcy, you stand some kind of chance...
Good luck with your choice. It sounds very difficult. |
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Jas
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You might be a good candidate for bankruptcy, but it depends on what state you live in and how much debt you owe. For instance, in North Carolina it can work out better to ignore your credit cards, than to file bankruptcy, but in Ohio it will haunt you forever and it is better to file bankruptcy. Different states have different laws of how long they can go after you to collect a debt. But also beware that in any state they can sue you in court if they feel it is worth it. If they do that they can garnish your wages, foreclose on your home, and take money directly out of your bank accounts. |
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Mountain Top
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Bankruptcy wipes the slate clean.
If you ignore your debts, they will remain on your records for 7 years AFTER you pay them to zero. If you don't pay them to zero, they will stay on for as long as the debtor keeps updating the credit bureau - which means for any big institution - effectively forever.
Bankruptcy used to be easy, it's much more difficult now. Best go talk to a lawyer - and yup, you're going to need about $300-$500 cash - the lawyer won't talk to you about bankruptcy unless they can be sure they will be paid. |
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gomanyes562
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I don't think you're at the bankruptcy level just yet. Contact a credit counseling agency and work with them to negotiate a repayment plan with your creditors. It is in their interest to cooperate with you, because if you file bankruptcy, they probably will get nothing. |
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fuzzykitty
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If you filed bankruptcy in about 7 years it would be off of your credit report, Now , the laws have changed , and it is no longer as easy to do this, nor is it cheap. I suggest if you plan on doing this that you make sure you have a complete list of your bills ( All of them) because if you leave something out, it will have to be paid. It sounds to me like you are between a rock and a hard place, and that is what Bankruptcy was put in place for. |
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wrong12ask
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I don't really know the answer to your question, however, I ignored a car repo for years cuz they never did anything about it. I didn't care about it being on my credit report because it was pretty much the only thing on there. After about 6 or 7 years, they caught up to the repo, and called me at least 8 times a day, everyday. It was such a nuissance, even though they sold me a peice of crap, that I filed bankruptcy on it, and have never gotten another phone call. In the future, I will be able to rebuild my credit. You really cant rebuild credit unless you either pay everything off, or file bankruptcy. |
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unknown friend
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If you declare bankruptcy, you will have no credit for 7 years and if you do manage to get a good job and get back on your feet the bankruptcy will take your money from you then to repay your debts.
Bankrupty is a last resort because it destroys all chance of any credit for 7 years. |
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