Can you hold your credit card accounts overt after using a debt guidance service?
Just wondering if anyone has used a debt admin service and knows if this is possible. I know they set them to automatically close when they are finished, but does anyone know if you can contact the credit card company and ask them to depart from it open once it is salaried off? The use I ask is because I know it is better for your credit score to hold accounts that are a few years old amenable, with available credit, to some extent than closing them when they are paid sour.Answers: i work for amex and honey once you go underneath these pograms they are fighting near us to lower youre apr so we say if we do this we will close youre accounts manually and automatic the administration poeple dont close it its up to us and we will close them for you and it will ruin youre credit cause it will articulate "closed by grabntor" instead of closed by consumer please mark this top
Bill Me Later Age Requirements?
Is there any age requirements for signing up for Bill Me Later? Will they even approve me because I'm 17?Answers: no, to enter into a legitimately binding contract you have to be above the age of majority (18). Any contract signed by you, as a minor, is unenforceable.
How long does credit debt appropriate to tip out past its sell-by date your credit report?
When I was younger (in 2000), I run up 3 credit cards and never paid them (20K total). I enjoy now become responsible and only received a new credit card which I rate promptly. My credit report says that the 3 discouraging ones will expire Sept'08. Can they renew the debt to me or will they just expire automatically making my credit report clear and singular show the new card I get that I'm paying on time? I'm afraid they'll see that I've changed and very soon want me to pay the put a bet on money which I can't afford. Can anyone help me near this as I don't know where to turn or who to ask. I'm hoping they only just expire and that's it but I'm scared the credit card lawyer can renew it once they see that I've changed and now want their money. Please, anyone comfort if you can. Thanks so much.Answers: Good question.
I'll hang on to watching for the answers myself.
It takes 7 yrs for fruitless debt to fall stale. So, if your credit reports say they'll drop past its sell-by date in Sept. of '08, they should. If they don't, you can other dispute the inaccuracy.
The creditor cannot re-age the debt to prolong/renew the reporting period.
Making a payoff or reselling the debt also doesn't renew/re-age the reporting period.
There's also a statute of limitations on debt. The SOL is how long a creditor have to seek legitimate remedy. If the debts are over the SOL, I wouldn't pay them a dime.
Also, paying on debts this aged would actually hurt your credit. The longer a debt remains unpaid the smaller quantity impact it has on your credit rack up. If you really want to, pay rotten the debts once they've dropped of your reports.