 I Need a home loan but have poor credit. HELP!? |
| The loan is for $100,000. Our scores are in the 500's. We do have about $9,000 to put down. We just can't get a loan due to credit issues, and it is so hard trying to repair credit. We ... |
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 How do i get a free credit report? |
| how do i get my free credit card without giving a credit card number i dont have a credit ... |
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 Does it affect your credit if you pay off your credit cards? |
| I have credit cards that have small balances on them, but I don't want to keep up with having to makey my payments every month because I am quitting my job in 3 weeks and I will be moving back ... |
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 Hear is my situation , $10,000 in credit cards debt , pay more than they ask ( double amount )? |
I always pay 2 weeks early anytime I send my bills . what bothers me is the $10,000 I want to get those paid off ASAP.
I have a car loan , I'll just pay that like I am, the last 2 cars I ... |
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 How do I build up credit? Which credit card should I get? |
| I am 20 years old and I never owned a credit card simply for the fact of fearing of getting bad credit that can ruin my life. I was trying to live my life without credit cards but found out I need ... |
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 Can a collection agency ask for more than the original debt? |
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 Is it bad to go into your over draft? |
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 Does anyone know of reputable consolidation company for credit card debt? |
| I have looked online and found some names but don't know who is legit and who is going to rip me off. Anyone who has used a particular company that has been honest and helpful and has a good ... |
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 Where can i get an unsecured loan with bad credit? |
| i have a ccj which is to come off next year. i use a family members bank account. im struggling to find a company who will give me a ... |
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 WHAT'S ALL THE FUSS ABOUT THE CREDIT CRUNCH? ? |
I've sacked half my workforce and told the remainder to work twice as hard.
So far I haven't noticed any reduction of income.
Additional Details
Thank you Net Advisor, I ... |
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 I have been offered a 'payoff' amount on an old debt-accept? |
| I just received a letter in the mail from a debt collector, stating that the creditor has agreed to accept 60% of the balance due, as a lump sum settlement. I have a funny feeling that taking this ... |
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 When are they suppose to start mailing the stimulus check? |
| My last numbers are 00 and I had direct deposit. But I use h&r and now I am getting a mailed check . Are they Starting to mail them out on May 9th or should I receive it by then. Everywhere I ... |
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LJ M | Will starting a debt management program ruin your credit score? |
Additional Details
I have a decent credit score and have never missed a payment. However I find that I have to borrow from my credit cards to pay monthly bills. I am starting a dmp as a preventative measure so I don't start missing payments. is this a wise decision?
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CreditMan
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A debt manage program can really damage your credit. Some times it looks just as bad as bankruptsy. Here is an informative artice that explains how the debt settlement process works, the only thing this article does not talk about is how it will affect your score. When creditors see that you used "debt settlement" programs they will run away from you. Be careful....
http://www.creditfamily.com/articles/debt-settlement.htm
Good Luck! |
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MR XCITEMENT
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It's better to request a free credit report first, call all the companies you owe money to and try to negotiate payments to settle or either pay off completely. I worked for a debt management company and we never did exactly what we told the customer. If you have any late payments your credit has already been affected. Companies look at joining consolidation or debt management programs as you not being able to handle your bills and this adversely affects your credit. So be disciplined and contact your creditors, write letters disputing things on your credit report that are untrue, and slowly pay them off!! |
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pizzagirl
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if you need a debt management program, your credit score is probably already low. |
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John S
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If you need to borrow to pay your monthly bills, you need a debt management program.
Find out where you are spending your money. Make a list of the things that absolutely need to be paid.
Your creditors would rather receive something than nothing, but like most people, when our outgo is more than our income, we are in trouble.
Don't forget, when you borrow, you are paying LARGE interest.
It may mean you can spend more this month, but you will have less left next month.
It is better to choose your spending wisely. Save up for large purchases. Set aside some to pay down debt at the beginning. Prepare your own food when possible, bring a cooler when travelling.
Start paying off one bill. You will be encouraged when one small bill is completely paid. That is debt management. |
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dreamscorporation
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if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-consolidation.htm |
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funcoolmitchell
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i have a question can kid go to a school if they don't live in the county or not |
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Scott C
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Will you learn how to STAY out of debt using a debt management program?
Probably not. They will attempt to settle your debt and make your payments.
So, what happens when you get your debt paid for? Most likely you'll be back in debt because your behavior hasn't changed.
It's best to learn how to manage your money yourself so that you can stay out of debt.
Scott........ |
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kvuo
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check out dave ramsey |
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2glock
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Consumer credit counseling should not reflect as a negative or positive mark on your credit report and creditors should not deny you credit because of this alone. It is, in fact, illegal for the credit bureau to deduct points from your score because of your DMP.
According to Fair, Isaac and Co. (FICO), the organization that developed the FICO Score, "if you are having trouble making ends meet, contact a legitimate credit counselor. This will not improve your score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time and you will not lose points for seeing a credit counselor." |
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Paul M
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No! Although it will say on your credit report that you are with a Debt management company, it wont hurt it much. Try getting rid of non-essential items like cell/home phone, cable/satellite, Internet, items that are more a luxury than a necessity. You can always get them back later. Thats what I did. |
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satyr9one
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sometimes, yes. It depends on the type of rates you are getting to reduce your payments, as well as how much debt you were in, and how much you plan to pay off. There's not just one determiner, but you can talk to someone in a credit counseling office to get a sense of the different factors that may be detrimental to your score.
and it's incorrect that if people "need" a credit management program, then the person's credit is poor. Credit scores, interestingly, have little to do with a person's balance or net worth--they have to do with ability to pay off consistently (among other things). There are many many people who have little money, are recovering from paying off large interest loans, and so on, who have wonderfully high credit.
kinda odd, isn't it? |
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Johnny
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The accounts will show as under a program and that is bad. If you can manage with consolidation and pay, you would be better off. |
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