How long to repair/restore credit after settlements?
Date: Thu, 02/25/2010 - 10:51
I have been seriously thinking of trying to do the settlements with my credit card companies. I have about 25k total. I have missed a couple of payments here and there but for the most part always stay current so my credit isnt good but isnt horrible(yet) But just making minimum payments and never knocking down any debt is just getting to be too much.
So my question is.. if i do settlements of course my credit will be jacked up for a long time. I know that negative stuff stays on your credit for like 7-10 years
So does that mean my credit will be horribly for 7 or more years and wont be able to get car loans or mortgage till then? Or will it start to improve after a few years?
So my question is.. if i do settlements of course my credit will be jacked up for a long time. I know that negative stuff stays on your credit for like 7-10 years
So does that mean my credit will be horribly for 7 or more years and wont be able to get car loans or mortgage till then? Or will it start to improve after a few years?
After I did settlemnt in Jun-Aug 2009 65K at 35% average my scor
After I did settlemnt in Jun-Aug 2009 65K at 35% average my score is now 635. But I have other current loans (car, mortgage, 2 CC ) and my debt to income is low.
So it's not that bad.
