I have credit card debt in NYS over 6 yrs old, past the statute of limitations. How do I get it discharged?
Answers: You are confusing two different time lines.
The S.O.L. has nothing to do with the time that a derogatory account will be reported, this is per the Fair Credit Reporting Act and it says that they will show for 7-years from the date of first delinquency which works out to be 7-years and 180-days.
Additional information.
While the S.O.L. can be reset by making a payment and even by admitting the debt is yours in some States, the time for reporting the derogatory account can not be reset.
This is called re-aging and is forbidden by the Fair Credit Reporting Act.
If a account is sold and shows up all you have to do is dispute it and it will be removed.
And if they sell your account before the seven years is up, it actually becomes a new debt that when unpaid, will continue to stay on your credit report. Your best bet is to pay off your old debts.
Has anyone hear anything about freedom mortage?
Answers: Check the Freedom Mortgage website. It has all the information.
https://www.freedommortgage.com/wps/port...
Does debt consolidation hurt mt credit?
If I use a debt consolidation compnay to lower my credit card debt does this adversly effect my credit rating?Answers: They will trash your credit.
What they do is not pay your creditors for months and consequently try and get them to settle for smaller amount. No special skills. No magic. They freshly don't pay.
If that's the route you hold to take do it yourself and liberate the fees they charge.
Go to daveramsey.com and listen to his radio show. It doesn't cost a dime to listen.
Consolidation does not lower your debr. It simply moves it around.
DON'T do debt consolidation. It just moves your debt around. It rolls dignified interest items AND LOW interest items into the same loan at a mid-range interest rate. It might lower your monthly payments, but that mechanism it will take even LONGER to grasp out of debt. It also frees up all your lines of credit so you can simply run them up again! Finally, you recurrently have to foot a loan origination fee.
Call adjectives of them and work out a payment plan and try to draw from your interest lowered or stopped.
Then, make the minimum payments on every one of them. On the lowest dollar importance, put all your extra action toward paying it off. Once it is remunerated off, afterwards roll that extra money to the next largest harmonize. Continue this snowball until all your debts are salaried off.
You probably entail to cut your expenses back to the uncovered minimum. Get rid of cable, cell phones, internet, etc. Lower your electric bill, gas bill, water bill, etc. Don't get through at a restaurant until your debts are under control. Take a sandwich for lunch. Cancel the gym devotion.
Try to increase your income by getting a second job. If you own a car near payments, get rid of it, and buy a virtuous dependable used car for CASH.
Go to the library and receive "The Total Money Makeover". Read it and follow it carefully.
Go check out Dave's website as okay. Yahoo is blocking his site again, so take out the spaces contained by the following:
www. Dave ramsey. com
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