Paying back a defaulted/charged-off credit card will not restore your credit rating..Your credit report will be updated to a "Paid Charge-Off," which, while slightly better, is still a seriously derogatory item. Per the Fair Credit Reporting Act, a charge-off, whether paid, settled for less or not paid at all, will remain on a consumer’s credit [...] [...more]
As far as the score is concerned that will take time (months) but it always looks better to take care of things rather than them go unpaid. Don’t apply for anything for some time as you will more than likely get denied us you have a cosigner with good credit and you don’t want that [...] [...more]
You don’t need to request it, they can do it on their own if you don’t pay what’s owed. You can also make the withdrawal on your own. The good news, there is no early withdrawal penalty if the money is used to pay federal tax you owe. [...] [...more]
I was speaking to a friend who had just recently gone through bankruptcy under 2 years ago. She was speaking to her financial adviser about rebuilding her credit and in about 6 months she was able to buy a house on a low interest rate. She said the best ones out there that her adviser [...] [...more]
Yes, this is a good plan. However, I would also encourage you to consider the bigger picture. Why do you have so many credit cards? Why so many with ongoing balances? Debt limits your freedom. You are right on to have a goal of paying off all of these accounts, including the [...] [...more]
Personally i would say debt. it’d be a more long term solution. pay some more off and get a better loan when it comes time to get the condo, both with approval chance and interest. maybe look into a consolidation loan to make things easier?First thing’s first. When considering a mortgage loan, the rule of [...] [...more]
Call Chase, once they refer you to the collections agency negotiate a pay for delete with the collections agency. Google a pay for delete letter to send to the collections agency that you were referred to. Send it certified with return receipt. The ultimate resource for debt consolidation loan [...more]
The best information for credit card debt [...more]
The best information for creditors [...more]
Well, even after debts are all paid off on your score.. it will take about 6 months to a year after to start your score essentially all over again. Unless you have things like a car payment or house payment, or cell phone or credit cards that are slowly building your score so long [...] [...more]
