mortgage, self employeed, cc debt.. help
Date: Thu, 07/09/2009 - 20:09
If you stop making payments, your score will go down further, bu
If you stop making payments, your score will go down further, but at the same time if you do not stop making further payments, the creditor would not agree to settle your account for less. I think that if you cannot afford to pay, stop paying them and wait for at least 6 months before you negotiate for debt settlement. Credit score can always be repaired, even if it goes below 500, but it may take some time.
Make sure loan mod won't be affected before you stop paying but
Make sure loan mod won't be affected before you stop paying but I agree
this is the orginal poster..how long could it take to repair cre
this is the orginal poster..how long could it take to repair credit score? a year? couple years? 5 years?
another post- how long could my credit score be like it is right
another post- how long could my credit score be like it is right now just from being behind on my mortgage? if its something thats not going to change right away and i will not be able to use my credit for anything then the best thing to do is to stop paying and move on right
Obama admin are calling a meeting with the big banks at the end
Obama admin are calling a meeting with the big banks at the end of July to force them to do more loan mods as they are dragging their feet (surprise, surprise). As for new mortgages for the self empoyed the NY Times had an article about that today - there aren't any!
Obama admin are calling a meeting with the big banks at the end
Obama admin are calling a meeting with the big banks at the end of July to force them to do more loan mods as they are dragging their feet (surprise, surprise). As for new mortgages for the self empoyed the NY Times had an article about that today - there aren't any!
As far as credit score is concerned, we're all supposed to be se
As far as credit score is concerned, we're all supposed to be serfs to the big banks. They behave irresponsibly and often illegally, they get bailed out with taxpayer money (and we're paying taxes as well as paying them 29.9% because we missed a payment because they switched the billing date on us).
Sure, credit score needed for good mortgage rates, car loans, even some jobs.
BUT you can only do what you can do and unless you need a new mortgage soon, or a new car loan, best to forget the credit score as it already is trashed anyway and concentrate on paying down debt, via settlement or hardship program or whatever it is.
That's what the rest of the country is doing., The banks are not lending the money they got from the taxpayers and truth be known who wants to be more in debt to these corrupt institutions anyway