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 Posted: Thu Aug 24, 2006 3:01 pm Subject: getting my credit back up to snuff |
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Hi, Im 24 years old right now and for the past 6 or more years, I've been really careless when it comes to my bills and some spending. From post graduation until now, I've acumulated between a credit card and a computer purchase somewhere btween five to six thousand dollars and a student loan about two to three thousand dollars. I've tried paying them off one at time, but its just not gonna happen. I have two kids and a wife now and at some point in my life I'd like to purchase somehow a home, but fear it will never happen because of my credit. Im contacting you now so that I can find some means to resolve this and someday get my credit in order.
steve
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grezball_z
Joined: 24 Aug 2006
Posts: 1
Debtcc Points: 55
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| Posted: Thu Aug 24, 2006 3:14 pm Subject: |
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Hi Steve,
How are you?  You can actually improve your credit with the help of some professional help. Do it now before the debt goes out of control. In this program, you decide the payment plan you want to frame for your creditors. The interest rates will be lower than the present rate. Your consultant will inform your companies about the program and waive off the extra charges if there are any. The credit report will present your good credit history after all the accounts are paid off. It will help you later in purchasing new home.
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Justme
Debt Samaritan
Joined: 19 Jan 2005
Posts: 502
Debtcc Points: 8026
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| Posted: Fri Aug 25, 2006 8:31 am Subject: |
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When you are paying on a payment plan, (which I am starting) how does a creditor show the pyment on a report? I know that it will initially show as past due, but does it eventually show as paid as agreed? Or will it show as past due until it is paid off?
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Gettinout
Joined: 07 Aug 2006
Posts: 28
Location: IL Debtcc Points: 974
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| Posted: Fri Aug 25, 2006 2:04 pm Subject: |
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Gettinout , creditors report the accounts to the bureaus with any of these statuses.
1) "Paid in Full" or "Paid"
2) "Paid as Agreed"
3) "Settled"
Insist the credit company to report to the bureaus in a fair way that doesn't hurt your credit. The first two are good for your credit. If they use the term "Settled" besides your account, your future creditors will think that you were unable to pay the full amount and agreed for a settled amount. They will think before lending new credit to you.
While you are arranging your payment plans with them and done a couple of payments, talk with the company to report in a fair way. Get their statement in writing for records.
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Gretchin
Debt Samaritan
Joined: 18 Feb 2006
Posts: 498
Debtcc Points: 8504
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