will my credit mess up even more if i do this?
Date: Sun, 06/28/2009 - 16:44
My credit score went from 703 to 610 right after i missed 2 mortgage payments in a row.. I am wondering if i stop paying on my credit cards and wait for them to send me something to settle for less in the mail and i actually settle with them will that make my credit worse off then it is already is? I know missing two payment has hurt my credit for the next 7 years, and i dont plan on missing anymore payments on my mortage,, I am just wondering because i dont want to keep paying on my cards if i dont have to and if it is not going to mess with my credit anymore then missing those two mortgage payments. I do want to eventually buy another house 5-7 years from now but Please let me know what you think. I owe a estimated 30k in credit cards between 6 different cards.
Yes, if you stop making payments towards your credit cards, your
Yes, if you stop making payments towards your credit cards, your score will fall further. So I think that you should stop making payments only if you cannot afford to continue. You can also call up your credit card company and negotiate for a payment plan and pay off the debt.
i am making my mothly payment reguly mininum but i recived lette
i am making my mothly payment reguly mininum but i recived letter from credit card company that they are closing my creridt reson they told me isavilable credit backward is to low.
will this effect my credit score?
Yes. Involuntary account closure does negatively affect your sco
Yes. Involuntary account closure does negatively affect your score.
And using up all your available credit, or being over your limit
And using up all your available credit, or being over your limit, further hurts your score.
