Archive for the ‘Credit’ Category
April 10th, 2011 | 
Author: 
My credit score is now 583. I’ve been cleaning it up for roughly 3 years. I have a couple things that won’t disappear until 2015. But, I paid down all my cards, closed them too (debt reduction agency advised me to do so), I have one card left that is under $800 that I’ve been paying on for a year, and missed no payments, and I have student loans that I will start paying on next month.
I’m not interested in opening any new cards. I’m pretty much done with credit cards. But I have my school loans, will they help me raise my credit? And the one card that is open will be closed when I finish paying it off (unfortunately not by my choice). Are the student loan payments sufficient enough to bring my credit score up to a good standing? Is there something else I should be doing?
The card that I am paying on will close without me doing it as soon as it is paid off. I have no choice in the matter. My question is, will my student loans balance be enough to build good credit?
The credit cards that are closed are paid off but do show histories of 120 days late, etc. I don’t know if that means good standing or not. The credit reporting agency had me cancel the cards before the cards could cancel me. But I think there was one that canceled without me. And the card I’m paying on told me that when I’m done, it will be closed. I can’t remember if it was because I called and canceled or they’re dropping me. Basically it was first year of college, and I didn’t know how to budget.
Ben Rentas
Posted in 
Tags: 
Is there an Excel Debt Reduction Calculator that takes into account Variable APR’s? I have a new Balance Transfer Offer from one of my Credit Card Companies and I’d like to see the numbers. e.g. 3.99% APR for 12 mos, then 12.99% APR thereafter, VS. my current 14.99% APR. Also, the Balance Transfer Fee would be 3% of the transfer up to $150 max. Is there an Amortization sheet already created for this somewhere??
Cold, this is not a new card that I am opening, but rather just a new offer. Thanks.
moenko, thank you for the reply. Yes, it is seen as so, but I have had other offers in the past where it wasn’t as easy to be seen, hence I would still like to know if the technology is available somewhere. Thanks!
Yasuko Rady
I’m able to pay due the severe economical Hardship. Any that can help out?
Delia Leho
I received a letter from this place claiming they can settle my unsecured debt for 1/2 of what I owe. I did some searching & can’t find anything about them. Not sure if that is actually the name of the company, but that is all the letter says. There is no address & the ph # is 1-866-403-7945. My gut tells me it’s a scam, but I was hoping someone may know for sure.
Phil Ganibe
With gas going so high all the time, I’m seriously considering it. How did it work out for you? Do you know how long it stays on your credit file? Does it hurt as bad as bankruptcy?
Chu Rojo
The TV Commercials show people getting a dramatic reduction in their debt by calling a phone number. It is said that its one of the President’s initiatives. What do the Sponsors of this advertisement charge for their services?
Hans Tanenbaum
I am owing about $12,000 in Private student loan….My question is there any where I can get it reduced and put on a monthly payment plan? I need to pay it off But I cant ay it all at once.Does Private student loans get negotiated for reduction like the credit cards?..I will appreciate Information
Sheri
Im not past due on any payment and current on all bills. But Im considering getting help because the interest rate have increased and credit limits reduced. I owe about 20,000.
Nat
My close friend has massive credit card debt and is experiencing considerable financial difficulty. I repeatedly encounter ads leading me to infer that the federal government has passed legislation whereby stimulus money is available to pay up to 50% of credit card debt. Two sites in particular are http://www.us-gov-creditrelief.info/ and http://www.creditreliefact.com/.
I am inclined to strongly recommend this program to her, but she tells me she has explored several avenues that have all turned out to be scams. So I simply need authoritative and trustworthy information on government plans.
Is there, in fact, a government plan to pay down credit card debt for troubled private citizens, or are such suggestions all scams?
If there are such government plans, how should my friend proceed to utilize them?
Major Eilertson
I had to make a financial choice a little over a year ago so I stopped paying on my credit card debt. Is it true that after 7 years the debt will fall off of my record and what can the financial institutions do to me in the mean time? I am not trying to skip out on what I owe but the CC companies refused to help when I needed it and raised interest rates in spite of my perfect payment history. I have checked into bankruptcy and debt reduction and I am in a financial no man’s land caught between paying debt or necessities. Help.
Toney Ballantine