 A $50 medical bill from my old insurnce co. in 2005 went into collections. my credit is 819, will they sue? |
-I got a Collections letter today for $50!? It's an overpayment from a past insurance company. Date of service was 11-6-2005 for a medicine prescription.
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 Recieved a summons from a credit card. I am being sued for the sum of $11,364.24 with intrest rate of 11.990%. |
| First of all I did not charge this amount. My credit card limit was no where near that amount. I had used the card about 3 times cause about the 4th time when i was going to use it i couldnt find it. ... |
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 Is it bad to keep transfering your credit card balance, just to keep that 0.00% APR? |
Additional Details
You know......when there are promotions they state something like "0.00% APR for 1 year." After that promotional period has ended, does it look bad to ... |
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 What is the right way of fixing your credit/paying off your debt, without outside assistance? |
| My husband and I want to sell our house, but have made the really difficult decision not to at this time, since our debt seems to be really high. We've got about five student loans, two ... |
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 Credit counseling or debt consolidation? so confused!!!? |
| my husband and i are in credit card debt 35,000.. medical bills around 1,800 and school loan about 5,600... we are paying them all the minimum and killing ourselves doing so. we both work and hard to ... |
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 What's the best way to improve your credit score? |
| Hi. I'm a 22 year old college student and I've had my fair share financial struggles topped with poor responsibility, but now I'm wanting to build for my future. I've torn my ... |
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 What is the difference between good debt and bad debt? And could you give me expample of each.? |
| I just read somewhere where you can make money off your good debt. I just wanted examples of this.... |
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 Capital One credit card? |
| I used to own this card about 5 years ago. i was late on payments and they had put it to a collection agency. paid everything about 6 months later. this really ruined my credit. now theyre sending me ... |
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 Social Security Numbers? |
| So I'm sitting here with my girlfriend, and her sister - and we want to know how they come up with your social security number? Like why do some start with 364, or 593 or 591??... |
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 What are some good low interest credit cards? |
| and which type should I go with? visa, mastercard, discover....is one a better choice than the other?... |
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 Is there a way for someone on disability and has bad credit to get a personal loan? |
| i need a loan and i have no income except for my son's disability check and help from the state and i have bad credit is there anything i can ... |
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 Bankruptcy question? |
| i am contemplating filing chapter 7. i have an investmemt condo in miami in my name and my wife's name. will this be exempt from my creditors? ... |
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 Is it good to have a balance on your credit card? |
I'm new to credit cards.
I was always under the assumption that paying the full amount that you put on your credit card that month, at the end of every month (right before the due ... |
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 I'm 48 . Is that too old to start getting a Ph.D? |
| I mean most people my age are thinking of retirement. I feel like Rip Van Winkle.... |
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 Need help dealing with a collection agency? |
| These big Turds from Allied interstate collection company is calling my cell phone every hour looking for my wife. They are trying to collect a credit card she stoped paying 10 years ago in ... |
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 I checked with 2 credit scores sites. my equifax fico score is different. one is 518 and the other is 621 ,? |
| how do i know which site / and score is correct. i think this some bulls*** , unless someone tell me otherwise. please help me let me know, also what can i do to get credit score up. i have one line ... |
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 What credit card can I get if I have bad credit ? |
| I have bad credit and need a credit card. I need one that I can use to withdraw funds from the atm or use to make a money order. This is to pay my rent thats why I need either the cash or the ability ... |
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 Is this a scam? |
| someone claims to be a gov't official and wants to give me a $5,000 grant that i have to never pay back because i'm qualified. All the info he wants is my bank name and bank account #. He ... |
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hms | Which would have the biggest impact on my credit? |
I will be getting a lump sum pretty soon and am trying to determine which would best help my credit--pay off 1 or 2 of the larger loans then pay monthly on the smaller ones or pay off several of the smaller ones and work monthly on the larger ones. The larger ones are current/never been late. Most of the others are either charged off that can likely be settled for less than balance or medical bills. |
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Being that I'm an credit analyst that manually reviews credit reports, I think I can give you a basic gameplan to go by. Keep in mind that this is what makes up your score:
1. Payment history- 35%
2. Total debt owed to available credit ratio-30%
3. Length of time establishing credit-15%
4. Types of credit established-10%
5. Inquiries and New accounts-10%
with that said, another thing that you should take into consideration is that charge offs and collections that are less than 2 years old are hurting your credit the most. It's possible that you could negotiate a "pay to delete", which is a payment in exchange for removing it from your report or getting the acccount changed to a more favorable rating. I posted several links explaining this in detail:
http://www.creditinfocenter.com/debt/settle_debts.shtml
http://www.creditinfocenter.com/debt/neg_rating_after_settle.shtml
http://www.creditinfocenter.com/debt/CanCreditorSue4SettlementDifferences.shtml
http://www.creditinfocenter.com/debt/ActualDebtSuccesses.shtml
http://www.creditinfocenter.com/debt/debt-negotiation.php
So, in your situation, I would try to negotiate the smaller ones and pay down the larger ones to help your score |
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Is this thing on?
 |
If a debt is showing up as Charged Off on your credit report, it's best to not pay it. Why? Because paying it off will not get it taken off your report and the company who placed it there will reset the "date of last activity" to the most recent date you made a payment, which brings about a vicious cycle of it remaining on your credit report much longer than the original 7 years. In other words, whether or not you pay it, it will still be listed as an adverse account for 7 years. If you start paying it now, it will be listed much longer than that.
The longer you have good credit showing on your report, the more you drown out the bad. Instead of paying off the loans, try putting your money into a high yield savings account such as e-trade or ingdirect. Pay your bills monthly to give your credit history a well rounded diversity.
Of course, if you have credit card debt, it's best to pay in full each month. |
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Rainy
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pay off any that have been paid late or are past due then work on paying off the others applying what you would have sent to the ones that are paid off to the ones that are not will eventually get them paid quicker |
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SuperCactus
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Keep the ones that are current and pay off the bad ones. |
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mark r
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Not enough information. Credit Cards with high balance should be paid first especially if they have a high interest rate. Otherwise you should focus on paying the loans with the highest interest rate, so you'll save money in the long run and be able to pay more in the future, which will drastically effect your credit. Another point of advice is, always pay more than the minimum payment due! |
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Jennywren
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Either way won't really matter. The biggest thing here is that you are doing what you should by paying off this debt. The quicker you can do it, the better! |
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Jeff
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First, get current with everything you owe.
Then, make the minimum payments on all your debts.
If you still have money left, set up an emergency fund ($1,000) You don't want to use credit cards in an emergency.
Then, knock out as many small ones as you can. |
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Matt B
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it's been my experience that it's better for you to get yourself to the point where you have less payments to make, even if they are bigger ones. I'd pay off all the smaller ones that you possibly can- get it to the point where you're only paying 1 or 2 big bills in a month. Plus it keeps it from looking like your credit is stretched so thin when creditors look at it. |
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s and d e
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ck out this website: www.daveramsey.com---he has a plan for a debt snowball you should follow--it's free. is theory--pay your debt smallest to largest. as you pay off the smallest one, take the $$ you were paying on that and add it to the next smalles one and so on and so on. you will be surprised how quickly it will work! |
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