I figure I am about a year away from wanting a mortgage. Currently, my credit has improved but it is still not what I want. About a year ago I was able to get a car loan. Six months ago I got 2 credit cards. I have handled these accounts perfectly. My student loans are also current, though balances are higher than I'd like. I do have 4 collections appearing. They are all several years old (2 tied to a bank account, 1 to a Gym account, and the other under dispute). I guess my question involves a good strategy to start getting ready. Is there any way to remove these collections? How much do they hurt me? I know my credit score is above 620, which is the mortgage minimum...but how will they look at my actual situation?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.