How can I clean up our credit, its full of collection accts, and we want to buy a home in the future.?
Tags:arbitration, credit debt, high interest, poor credit, repossesed car,
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OK, you know this is bad. you began college, was operative roughly FT, got credit cards, stoped operative as well as have the garland of pick up accounts. My father additionally has the garland of pick up accounts, as well as the single of them even went to justice or settlement or something similar to that, so right divided instead of 00, he owes 00. you have the ballys comment where i sealed for someone as well as afterwards they were gonna switch it to her account, as well as they didnt wish to do it, she stopped starting to the gym so right divided you am in collections for 00. you have most collections, the little as distant behind as in 2002 or 2003. you will be starting work as well as wish to proceed profitable behind all to transparent up my credit/debt. OH, the single alternative thing, you have the automobile loan which you got as well as the really tall interest, does anyuone know what you can do? The automobile prior to which was repossesed though you got it behind right away, though had to get this the single given which the single caought upon fire. given nobody will refinance this brand new one, given you have bad credit, what can you do??
I was wondering if it you should be concerned most about aged pick up accounts or newer ones.
The repossesed automobile you got paid, though it burnt 1 year later, you did finish up profitable it off.
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Check the statue of limitations in your state and see if you are still responsible for the debt. If your total debt is not that high, call each one and set up payment arrangements. But..a repossessed auto will be owed even if it caught fire, and you would be responsible for the remaining debt owed. Have you even run your credit report to see what’s on it?? Depending on the state you are in, some may not even be on there and are time barred from collecting…they can still try to collect, but if they are time barred, they are not able to sue you for the debt, but can call you to see if you’ll pay it…scavenger collectors do it all the time and see how much they can get out of you for a time barred debt. Do some checking and see what you can find out for your state….The statue of limitations will begin from the last pay you made on each. Good Luck!
If some of your Debits are 7 years old or more than you DO NOT have to pay them , that is If you live in California.
You can consolidate all of your debits but you must be in debit for $10,000 or more If you have late and/or delinquent accounts they will NOT approve you for a loan not even an FHA. The ONLY debits that are forgiven are Medical Bills.
Regarding the car, there is nothing you can do
unless the other car was covered under a warranty or the fire was due to mechanical issues that my have been covered by a RECALL if that is the case than you can get the car company for a LEMON and get them to pay for your new car ( Hopefully you aren’t going through WACHOVIA for the car they are frauds)
Did the car burn due to a house or garage fire or a mechanical reason? The reason I ask is because even though you paid it off you may have been able to recoup extra money
car loan int rate is high because of bad credit – nothing you can do about that- stuff from 2002/2003 will disappear off your credit report by 2010, so it may be best to ignore it and not pay – don’t even think about a house until all those debts and collection actions are paid or gone off your credit report – you’ll also need to save 10% of house price for down payment and closing costs, so shoot for 2013 or later for a house
Hi,
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forget it, all lenders care about is credit. looks like you’ll be renting for years to come. next time be a little smarter with your credit