Debt collector is after my dad?
Question:
here is the thing... in the order of a year ago, my dad installed some windows for one of his friends and he charged him $2000. The guy be happy, everything be okay until six mounths after when he decided that the window don't look good anymore and that my dad charged him too much, that he could of get the windows plentifully cheaper from someoane else, and now he wishes his money back. There be no papers made, no receits no nothing. Yesterday my dad received a epistle from a debt collector asking us to pay $2000 in 30 days. My dad is scared because he does not enjoy the money and he does not know what to do... please help if you know anything going on for this type of matter.
thank you
Answers:
This story is slightly strange.like you are departing out some info.
Anyway, you MUST IMMEDIATELY send the collection agent a emergency to validate epistle. Since it's in his foot, he may try putting something on your credit report. By demanding validation, he has to show proof you owe the debt. If everything is as you said, he can't possibly produce this info.
Consider file a lawsuit of your own against both the friend and the collection agent trying to mess up your credit.
I wouldn't worry almost anything else as far as paying him back or a lawsuit...purely watch your credit report.
doesn't bring in sense to me - there be no papers sign- nothing happen in court --- you cant merely send a debt collector out after anybody - that would turn to a claims court.
- personally, i'd utter screw you- and whatever - I don't owe it- I am not going to salary it...
maybe reckon there is more to the story.
Well that sounds resembling a verbal contract , and I see that your Dad purchased the windows and installed them for his friend . I am assuming that your Dad may own the invoice on the windows that he purchase for his friend . That would be adequate to prove his case . But nonetheless even if doesn't , its still a vocal contract no matter where on earth he got the window . After all coming put a bet on after someone after 6 months is a little to in arrears , beside as you said there wasn't guarantee but he a moment ago installed for your dad's friend . You can't take the window back , I am lately wondering where the debt collector coming from , as your Dad salaried for the windows ? I wouldn't really verbs about it as long as your dad salaried for the windows and charged for the job it was only just a verbal contract , your Dad's friend is out of luck , simply as simple as that .
Best thing for him to do is describe the debt collectors to go to Hell ! Whether he charged the guy too much or not isn`t relevant because once he agrees to the price , the charge is without blemish legal , except beneath very unusual circumstances .
So the window were righteous for 6 months and now he`s settled otherwise ? ....... Baloney !
Tell your dad to tell the collection agency he owes them NOTHING , and unless they can show him a legitimate document to the contrary , he won`t communicate with next any further .
I`m not sure about this , but minus a court document showing a person have had a monetary verdict against them , it migght be possible to have them charged next to harrasement if they continue . It`s something you might look into .
He could also notify them to take him to court . They won`t do it because they haven`t a hope within hell of winning the grip .
And remember , collection agencies will threaten to do anything and everything in command to collect . These threats are almost never followed through because they`re only upset tactics ..... nil more .
Tell you dad not to worry. He doesn't owe this guy anything! He get paid for a service and did the assignment he was salaried to do. As long as your dad installed the windows properly, it's not his glitch this 'friend' decided he salaried too much or the fact he arranged the windows didn't look suitable. This 'friend' should have gotten other estimates if he needed cheaper windows or service. And to hang around 6 months after the fact to complain? Tell this shake to take a walk!
If this guy really wants his money fund, he'll have to thieve it to civil court. And I seriously doubt he'll get anything.
How do I check for the date on which i have created a Visa credit card?
Question:
Answers:
Get a copy of your credit report from Equifax or TransUnion. It will indicate the dates that adjectives your credit accounts were open and closed. As well you can check for any errors or omission. This is a very suitable practice to get into, because the sooner you identify any problems the easier it will be to correct them.
http://mightymortgages.com
it should say-so on your card.. "member since"
if you inevitability an exact date call the credit card company or look at a statement perchance
You can see it on your credit report. Legally you can get a free report every 12 months. See: www.annualcreditreport.com
This is terrifically easy. Call your credit card's issuer and simply ask what date the article was open. It is right there on their eyeshade.
Why don't some those give somebody a lift responsibility and wage sour their debt?
Question:
I did! OK, it took me a year but I paid bad every penny of it. Some people contemplate that moving to another country is the solution. It's not! I think if those got sustain then they could become debt free!
Answers:
Some populace live on credit , when they can not afford it , running up debt , instead of comming to terms near there problems and sorting the matter out , they avoid paying for what they have spent .
The solely answer is to get a world yawning argeement on debt recovery , so as to stop folks running away from there responsiblitys.
Another is to trade name people take-home pay the full amout of there debt , no discount for not individual able to reimburse , for they should think previously they take out credit
I AGREE. i want to be debt free, but i simply dont own enough money to live on if i wages everything i owe monthly etc.
Well, because is so many debts that once you foot one, the other comes and kicks you within the a*s. But I do believe debts can be paid sour, but with purloin lots of work and you probably couldn't have kids because children defintely punches a hole within the piggy bank!
Because it's more fun to spend than to repay a debt or release up. When you spend, you get the instant adrenaline rush and satisfaction of handling, playing, looking at your purchase. When you repay or free, all you enjoy is a piece of paper or hoard book to look at. Boring vs thrills. Which one will win?
becos they think that they can obtain away it!!
personally I cogitate the nanny state is to blame. no one is responsible for their own activities anymore, the government tell us what we can and cannot do, and if we do something wrong then we are to be cosseted, not blamed.
I did it the firm way, my business go under and took me next to it, a 3 year bankruptcy where on earth I was literally watching every penny and living of lb25 a week. very soon you can be out of a bankruptcy surrounded by 1 year - where is the deterrent
Children are no longer qualified about taking personal responsibility for their movements ... even after finishing school / university tons children have still not learn how to look after themselves or their finances.
Even having a Student Loan fail to teach abundantly of kids anything - most such loans are very low interest (or even interest free == i.e. Bank of mummy & daddy) ... so they are still powerless to experience or understand how paying Credit Card Interest will rob them of their adjectives.
To finance the vivacity style of the RICH, they will borrow on Credit, thereby taking the first steps to remaining POOR the rest of their lives.
After maximing out the Credit cards, the first response is NOT to cut down & pay it put a bet on, but to get ANOTHER loan to reimburse off the first ..
Some kids direct to grow up during the process of getting loan after loan after loan and wake up to what's scheduled .. at each stage the Interest cost and time to rate off get worse ... and soon it becomes deliberate that they will never finish paying it back
But copious never learn how Interest is robbing them of them of their adjectives. These kids will never be RICH = they have chosen to be POOR through ignorance.
Eventually the burden of Debt overwhelms them ... some learned up at the very ending moment and end up surrounded by an IVA .. others fail to cram in time and are made bust ..
Everyone wold pay stale their debts if they could afford to do so. No one likes fruitless credit.
I am debt free , I have two years moved out on my mortgage , all four cars are rewarded for , and I have zilch credit card debt,
Most people dream up the more you borrow the better credit you have , which is stupid , most associates think you hold to have a high-ranking credit score to receive a house , They are not taught that anything that go by a score is a suckers number . they are not skilled that if you can not pay bread , you do not need it ..most kids today , have an idea that when they start out they have to own the brand new expensive house , not realize the majority of what they are paying is profit for builder ,and agent , they are not taught that the brand clean car they hold to have is the worst investments anyone can bring in after all you lose more than the down allowance when you drive it off the lot , the minute you drive it past its sell-by date the lot it becomes a used motor ,and you owe more than it is worth from day one ... I blame the parents , these kids view the spending habits of dumb (mommy) ,and dumber (Daddy) ..or they are the sympathetic who does not say "NO" to their kids , these kids grow up thinking their parents give them everything , so the world owes them everything without have to work for it or pay for it ..they assume they are so special that everyone else owes them something for living...I have no pitty on the dumb ,and in the dark...most think they hold to live like they do on TV , not a soul ever taught them TV is not actual life.a moment ago stupity at it's finest...
I agree with you. People do not want to facade up to their responsibilities. How on earth do they allow themselves to grasp into so much debt in the first place.
In todays society we qualified it's OK to go into debt. Advertising is the number one sense, and it starts at a very young-looking age. The number of minutes per week a child watches t.v. 1680 (28 hours) and the number of minutes that parents spend in shrewd conversation with their children per week 3.5. that tell us our kids are learning from the medium, and all they do is plug; buy, buy, buy no money down, no payments for a year! zero % interest. It's also the credit card companies when they distribute you that 0% intro offer, and after that jacks it up to 10% + and after even higher if you miss a pocket money. So it is not all the individuals fault for getting into debt but they bring in the decision to do so, and nearby are millions doing it.
Bad Credit Loans (Subprime Personal Loans)?
Question:
I'm finishing my last two classes this summer for my Bachelor's Degree currently financed next to Federal Loans and Grants. I qualify for the maximum financial aid available from Federal and State funding because of my household size and income. I have a chronological bankruptcy (3 years ago discharged), but steady transmittal histories for the last 2 years, FICO gain of 579. My husband has a FICO chalk up of 624 and is willing to co-sign a loan for me. Without putting numerous inquiries on my credit report where on earth can a person similar to myself get a loan (about $15-$20,000) for my graduate college based on my poor credit history? Thank you.
Answers:
Try Prosper (online). It's a micro-lender. You're on the boundary, but may still get what you necessitate.
You're going to pay a big interest rate. Advice - if you do the Prosper loan thing - register at the highest interest rate (not the extreme you want to pay - the max rate period) and after - don't end the address list early. Let it run the full occupancy. You'd be surprised at where it ends up.
What happen is that first you get to 100% funded at your offered (very high) rate, later as time goes on - culture see that it's funded, and start to bid it down.
The people who don't bring back funded list at the rate they want to pay envelope, and no one bids. The ones who do win funded, list at 29% (or more), and it eventually get bid down (usually in the concluding hours) to something reasonable for your condition.
It's a souk like eBay - but for loans. And the collective thoughts of oodles people (sometimes 500 or so) who respectively loan $50-$100 dollars sets the final rate.
They will do a credit check, verify your residence (better if you own a home), will verify employment, and it will be added to your credit report, but if you make your payments on the dot - it should improve your chalk up.
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If you hold a poor credit score, it is difficult to capture a loan from most banks and financial institutions. Credit is usually available solely at a very large interest rate.Only few companies provide loan with poor credit chalk up.Check out link for details.
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Can you use a simon offering card on paypal?
Question:
I was thinking more or less getting a simon gift card , or a GreenDot card, but I required to know if I could use the simon gift card on paypal to buy things from ebay.
(if not after would a greendot card work?)
Answers:
you can use a simon gc on paypal..i did.
Bad Credit Student Loans?
Question:
I have bleak credit and need superfluous loans for school this year. I've tried 3 co-signers beside no luck and I don't qualify for a loan on my own. Does anyone know of any loans for students with fruitless credit. I already have Stafford loans and they don't cover nearly satisfactory. I need almost $25,000. I don't have time to apply for grant and scholarships as institution starts in two and a partially months. Unless anyone knows of any that are really express.
Answers:
It shouldn't take 2 and a partly months for you to find out if you qualify for a grant. Go on-line and folder your FASFA. You can even go to a dune and try to get a student loan beside them but your rate will be really high.
heck ya my credit is fruitless but i just dont thoroughness haha
Student loans are hard to bring with desperate credit, even if you have a co-signer near good credit. I hold been lucky satisfactory to maintain fitting credit so haven't had a problem, my brother instead finally got a glorious APR, high credit bound cc to finance college.
If you enjoy a stable job beside a good source of income, you might know how to apply for a loan through a website called Prosper. This site is a People-to-People (P2P) lend site where individual borrowers enrol in on the loans to give support to fund yours.
http://www.prosper.com/groups/group_home...
One of the fastest ways to get currency with bleak credit, and little hassle, would be with a payday loan. Yes they enjoy terrible interest rates but they are taking a risk. This site offer more details about the payday loans as powerfully as various sites offering the loans, masses without even a credit check. Do your homework. Best starting point is here:
http://loan.deal4-you.com
Good luck.
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consequently you'd have an assortment of companies to choose from. Refer Personal Loan / Bad Credit Section.
I own a FDIC credit ranking of 712 and i be lately denied for an auto loan why?
Question:
i am trying to apply for an auto loan on my own i have not long
canceled one of the three credit cards i own... i am 21 years
old does my age play apart surrounded by this decision... also i am
applying for this loan on my own...my ego wonn't allow me to
ask anyone within my family for any minister to (co-signing) because i
was qualified that if a bank won't donate a person a loan why would
i...and my subsequent question is what is a honourable intrest rate i could
get for my credit ranking.712?
ALSO IS IT POSSIBLE FOR ME TO JOIN A CREDIT UNION WITHOUT BEING AN EMPLOYEE OF THE COMPANY
Answers:
I hope you mean FICO evaluation. FDIC is Federal insurance for bank accounts.
FICO chalk up is one of two parts - the other is income.
A big component of your score is the % of available credit. So if you enjoy three cards, with a combined credit smudge of $1000, and a combine balance of $300 - you hold 70% available credit line.
Cancel one of the three cards, near a line of $500, and very soon you have a match of $300 out of available credit of $500 - and are 60% in debt, 40% available credit.
Canceling credit cards is a impossible idea. It's if truth be told better to let them putter along next to zero be a foil for. Just charge something once in a while to hold the bank positive and pay it rotten within 30 days.
Too frequent inquiries - also bad. More than 5 or so per year - not obedient - it lowers the score.
You may enjoy insufficient income to debt - even though the score is accurate (which does not take income into reason - only your stipend history).
In general 25%-30% of your income is the reduce for housing, and above that an additional 20-25% of debt (not counting housing) to income. So if you construct $1000 per month, and your rent is 200 - you are in list on the housing. If you then owe $300 / month of non-housing debt, your remaining debt to income is 30% - too dignified.
In general, the bank's factor is housing + debt to total income should not exceed 50%. In the above example you would be at the limit.
In common again, the creditors like to see a house, and 3-5 lines of credit - so a coup¨¦ loan, plus 3 credit cards would be 4 lines plus the house itself. That would be good. Beyond 5-6 it's considered excessive.
You can join together any credit union hill w/o being a branch. I am thinking it is more to how long you have have credit...you said your 21...alot of companies usually won't give a vehicle loan w/o a co-signor due to age...studies have shown within the past that the younger we are we tend to go down back on our vehicle loans...the co. see's it more as a loss than a gain...you might "plead your case" to a close family bough and have them co-sign but sign the creation with your first name ONLY...
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I agree with the first two posters.
Is the rack up you listed from formerly or after you closed that one card? If it's before, I'm sure your rack up is actually smaller amount than you think it is. The drop would enjoy come from closing the card. You lost the credit limit so it raise your overall utilization on your other accounts.
As for the closed card, depending on who the creditor is and if it hasn't been to long since you closed it, you might try to see if they will re-open it. (if the card have any fees attached to it, you might think give or take a few if it would actually be within your best interests to re-open it)
Being the age you are you will probably have better luck within getting financed for a vehicle if you have a duly large down expense.
As for the credit unions, at hand are tons of CU's that will allow people to team up through a back door.
Some will allow family to join if they live contained by a certain nouns, go to church within a certain nouns, if you or a family bough is the service (like the Navy, Marines, etc), join a civic club for a small payment, etc., etc., etc.
You would have to look on the CU's site to see what they require for devotion. They almost always enjoy a listing on their network sites.
You can also do a G00GLE search for CU's contained by your area and look at their devotion requirements.
Loans for relatives near discouraging credit?
Question:
Who has loans for population with impossible credit?
Answers:
The only place I know of that have unsecured loans for people near bad credit is prosper.com as long as your credit evaluation is above 520, have a steady income and checking justification.
Its worth a look.
Depends on what type of loan you are looking for.
Bad credit = high HigH HIGH interest so you should start small and get hold of your score up beforehand signing up for a big ticket item.
Collection agency is threatening to discontinue pay-out programme and emergency I acquire a loan. Can they do this?
Question:
Collection Agency is collecting Ontario Student Loan. A representative for another collection agency working with me for my Canada Student Loan say they CANNOT refuse settlement by any means and if they insist, to contact Ontario Student Assistance and explain what the CA is doing and after the payment rota will continue. Is this true?
Answers:
As long as you are performong due diligence on your subdivision they cannot force you to take a loan. This finances that you make all right payments in a timely vogue. If they are refusing your payments ask for this refusal surrounded by writing. This will be enough for a style guru to rule in your favor.
I AM NOT A LAWYER and i DO NOT enjoy any training in these matter...In my opinion. If you hold a payment rota and have be meeting your necessity every month. I don't believe they can change the language without going earlier a judge to prove just that you have not met the untested terms of the agreement. Keep paying no issue what. If they refuse salary then they are breeching the language of the original agreement. Please make conversation to a legal-aid lawyer...you can be directed to a attorney that will meet near you for something like $10 dollars for 10 minutes. Also check Collection Agencies Act of Ontario..some this sounds similar to harassment. Have a look at these websites i hope they can back you..good luck R ALWAYS CONSULT A LAWYER ON MATTERS OF THE LAW FOR DEFINITIVE ANSWERS.
I would agree that your current "Collector" cannot litter your payments. BUT I don't believe there is any restriction to constraint the full balance and threaten endorsed action. It is all right known contained by the industry that "collectors" work on some type of a commission. Therefore collecting a "full outstanding balance" in one sum would merit a large commission surrounded by that given month!. The motivation to collect all of the debt contained by one lump some is usually quite high-ranking. Good luck with this and hang on to trying to work with the agency beside monthly payments if you are unable to resolve the full debt.
They other try to pull this crap, it is a moment ago to scare you. Do not stop paying doesn`t matter what you do, because then they hold a reason to sue you! If they stop taking pay-out and take you to court the adjudicate will side with you because you tried to net payment and they would not thieve it.
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Having too masses credit cards will hurt your credit mark?
Question:
My friend told me that having too heaps credt cards will hurt my credit score. Isn't true
I own about 35 credit cards and most of them are applied through invitation. I remuneration my due on time every month.
Answers:
Generally speaking 35 is course too many revolving credit accounts. A devout general rule is to hang on to (for credit rating purposes nothing more) between 3 and 10. Most bank (when you're applying for a home loan for example) will say you have need of to close them if you have more than that.
That said, it really depends on how much actual credit stability versus credit limit you own compared with your gross. If you have 35 cards respectively with a $1000 goal and you only label $25000 a year, then it will be bleak even if you don't carry significant balance. If however you have 35 cards next to $1000 limit and you hold read aloud $100 in balance for each card ($3500 total) and you form $80000 a year, it will be considered okay. If you had 5 cards next to the same total go together and limits, it would be considered totally good.
Lenders resembling to say regular, prompt payment and a justifiable ratio of debt to income. If you can acquire more debt than you can pay it's considered totally bad.
In a common sense having more cards help your credit score, doesnt hurt.
Why? Well because you are building more credit history, and you enjoy a larger credit line. Both of those are well brought-up for your score.
However, if you look at it from the point of scene that having alot of cards can tolerate you get into trouble easier.. afterwards the opposite would be true.
It adjectives just depends on how thorough you are with your credit. I enjoy to say though, have 35 cards seems close to way mode more then anyone would ever want.
Don;t know about the credit mark, but if you try to apply for a home loan, the bank will not similar to it that you have 35 creditcards. Too much credit lately floating around. They might even ask you to cancel some.
No, it won't husrt your mark as long as you are using not more then 30-50% of your credit lines and paying them bad in time. In reality the longer you keep the credit card the better it is for your credit score. All the damage would own been done if you applied these credit cards within a short duration, if these credit cards are applied in a spread out rage you are good within too.
I have 11 credit cards that own over $60,000 available credit between them. They all hold zero balance, no late pays, and I enjoy a FICO score of 781.
Hasn't hurt me.
Yes, have too many expand lines of credit (of any sort) WILL hurt your credit score. And it doesn't concern if you carry a match on any of them or not. Also, the 'through invitation' part doesn't event in the smallest. Even when invited, you still are the one who 'applied' for the credit - as in, they didn't only just 'give' it to you. And keep surrounded by mind that even people beside horrible credit get credit card invitations.
Any why do you have need of 35 cards?!?
When I bought my home, I was told that have too much credit open is hurtful - - it's see as a risk because you have the qualifications to rack up all 35 cards to the maximum shorten.
What matters most is the status of the accounts. If adjectives are current, that's good. If adjectives of them are at or near the contain, that's bad. I would recommend that you pay cheque off, and rescind all but one or two of them. You will probably come to the realization that even two will be more than ample. Having all that credit can be a red flag; especially if the amounts due exceed your income. If what you're paying respectively month is just the "minimum amount due" you're contained by real trouble. It can help yourself to many years to retribution off lately a few thousand dollars because of the astronomical interest you'll pay. This is also reffered to as "slow credit" and will deflate your credit mark.
having too masses credit cards will deff. not hurt ur credit score as long as u wages the full bill at the end of the month...cuz if u dont they will charge soo much on interest,,and next over time it will all donate up and that causes debt, which hurts ur credit win
As for your credit "SCORE" the number of cards does not hurt your score. The evaluation takes into statement your utilization, length of history and how many are tentative accounts. As long as you are using under 30% of your goal you would be okay.
However, the "SCORE" is not the only article. Say of your 35 cards you have an average of a $2000 reduce. This gives you a total avaiable credit of $70,000. If you are using none of them you hold $70,000 open. You might hold a great score, but because you already own what is considered enough available you might return with denied for another card. This also applies when you apply for major purchases such as Cars or Houses. They will look at this as a refusal, because you could technically "max out" your credit limits and stop paying your bills.
On the Identity Theft side, you own to review each and every statement you catch. Because you have to verify that every purchase be yours and for the correct amount. Because of the amount of statements and cards you have you would be an great candidate for identity raid. Someone could probably open up a card contained by your name and it would bring you a couple of months to realize they did this.
You really need to rethink why you hold 35 cards. You should cut it down to no more than 10 open at the fundamentally maximum. For the best effect you need to construct sure you keep your oldest cards expand as well as the ones beside the highest ceiling. Just when(if) you close them be sure that they are paid bad and listed on your credit report as "Closed By Consumer" not "Closed by Credit Grantor". Your gain may take a hit on the short side for this, but it will bounce support and your history will look better as long as you continue to foot on time.
um. wow !! why would enjoy some many cards?? and yes to much credit can hurt u.. Try to close some of them that u don't u...
Secured credit card please assistance?
Question:
if i were to capture a secured credit card from a bank would it build my credit? similar to if i were to buy a bright car or somethin along those lines? and say aloud i make a $20 purchase once a month and payment it in full prompt, in going on for a year and a half wat would my credit rack up be around? (if secured cards even report to major credit bureaus) thankfulness for the help
Answers:
Yes, you hold the right idea. The push button is to pay it bad every month. Soon you will have credit card offer pouring out of your mailbox.
Go to a bankruptcy attorney and get his card. You're going to want him in the fundamental future. Credit cards, credit score, and car payments are adjectives for idiots who don't know how to live on what they earn. If you don't have the dosh, don't buy it.
Yes to all your question. The most important factor is making your payments in good time. Not the whole a amount owed,but it's recommended. Also, do not exceed your credit rein in. For example if your credit limit on your card is 1000.00 try to stay below 500.00. Even if they are letting you use 1000.00 axiom your credit limit can or will hurt you. If you hold a checking account , try setting up automatic payments to trade name sure that no payment will arrive past due and always verify that they clearing arrived. I know most banks will convert your rationalization into a non secure credit report once you have stablished your credit. The deposit you've made will be refund. Consult with your sandbank if you haven't done so for more details.
In spite of the words of credit card haters, there are cases within life when you entail to havr good credit, so you want to build one sooner or later. Secured credit card help to build credit if you pay the go together on time and within full. If you are late paying, you will be charged elevated fee and your rate will increase and rack up will be lowered. If your payments will be as much closer to the balance as possible, your win will increase, as banks consider debt to be a foil for ratio. It is easier to pay 200 dollars respectively month, and your debt to belence ration will be great.
What should i do?
Question:
I got a cell phone surrounded by the person term because i was not mature enought to get it at the time and i go over the mins. and i don't have the money to clear the bill and i know that it will effect that person Credit what should i do
Answers:
Make a pay-out arrangement with that human being. That is all you can do, they can deny the arangement and have the phone shut stale, but in the winding up they are responsible for the bill so even if they have it shut stale they will have to remuneration the bill. Next time remember you are not free to do as you wish only because your name isn't on the bill.
Disconnect right away and foot the around 200 dollar fee to go and get out of contract and set up a payment plan RIGHT NOW, and possibly it will not affect their credit. The lone time it will affect their credit is when it is sold to a collection agency, so do not let it seize that far.
Does applying for "Bill Me Later" ...?
Question:
affect your credit score?
Approved or not??
Answers:
It does not affect it much, but ANY time you apply for any type of credit (pay later) it counts like as applying for a credit card. Applying for one line of credit, doesn't build a big dent, but applying for 5 different types of credit in a few months will produce a difference.
That has zilch to do with your credit win. What will is if they send you several bills and can't draw from you to pay, later they might mark your chalk up somehow.
Yes, from experience I know "Bill Me Later" does affect you credit score. In Dec. 06 I applied for bill me subsequent at the time my score be at 613 after the hard inquiry they verbs to approve you it dropped to 611. I know its only 2 points but a short time ago to pay for something following its not worth it. Just wait untl you hold the money.
How much will my credit win shift down after applying a discover credit card?
Question:
hi. currently i have 2 credit cards. one have $2500 and other has $6000 ceiling and my credit score from exparian is 783. i want to apply an additional card of high credit impede. which credit card has elevated credit limits and i will know how to get one according to my credit mark. how much will my credit score stir down after applying for one more card? thank you
Answers:
Your FICO mark will momentarily go down for a while bit, maybe 10 points, from the tough inquiry. But since you have excellent credit, it won't hold any negative effect. 780 or 750 will both qualify you for the best interest rate if you are applying for a mortgage in a minute, for example. So I wouldn't worry around it at all.
You current ranking also indicates that you don't have a illustrious balance on those two cards. So depending on how much you charge to the bright discover card, it may actually angle your score within a couple months, if you keep the total debt/credit ratio still below 35%. In your situation, you should know how to get a card near $20K or more. In my personal experience Chase has be really generous contained by terms of credit impede. Check out this site for some good rewards cards including Chase and Discover: http://triceiver.com/bestcreditcard.aspx...
The site also have a free FICO estimator, but since the result is given in 50-point increments, I doubt it will show any effect. But you can try.
Tricky queston...it will immediatly run down from the credit inquiry (5-10) points. You say you hold 2 card but you don't say the amount to be precise charged on them...the important quantity is not the credit limit but the amount you hold charged. If you have more than 50% of the available cut-off date charged on the cards your credit will go down. The more cards you hold the wores it gets for your credit. The formula they follow is:
35% Payment History
30% Amounts Owed
15% Length of Credit History
10% New Credit
10% Types of Credit
So whether it will walk up or down depends a lot on what you already enjoy going on...
I do not think it will jump down at all and you can capture ANY card you want with that win with a elevated limit.
I don't chew over it will go down. It should dance up once your are approved.
Go to: http://www.credit-card-gallery.com/calcu... and calculate how much your credit jump down.
Why are college students within credit card debt? (this is for my research paper)?
Question:
Answers:
Take a look and get serious something like that student credit card debt.
Credit card debt affects the studies seriously. Lack of concentration, focusing on excessive debts can lead to lower score and GPA.
Lack of proper attention to studies, lower GPA's, increased debt pressure can all organize to a point where student drops out from the college.
A glorious credit card debt can force a student to take up a module time or regular job, which repeatedly has a degrading effect on studies.
Though the student credit card is designed to confer a good commencing to a person's credit history but, excessive debt can cause a serious dent to credit gain this factor alone can cause serious problems for students.
Due to a desperate credit score which is the result of credit card debt, a student can facade difficulties in finding apartments for rent.
Same factor can engender insurance rates higher or unaffordable for students, because insurance companies find it risky to insure relatives with poor credit.
Getting a errand also becomes difficult when a credit card debt cause poor credit history. The employer also shy away from people beside poor financial skills and money management. Read more from: http://www.credit-card-gallery.com/artic...
1- cant work full time because own classes to take.
2-paying for books,classes and dorm and food and clothes next to very little money.
I get a debit card when I started working and was contained by college so I never accumulated credit card debt, newly a comparatively small student loan debt.
However to my understanding lots of them don't use credit cards to pay for college, they get stuff approaching clothes, CDs, funiture, etc and a lot of it, so that's how.
They are childlike and inexperienced when it comes
to financial responsibility. These are the type of people the credit card companies target the
most.
Well, I graduate with no debt and I attribute that to individual taught by my parents that if you can't discharge for something in full next you can't afford it (besides major things, house, sports car, etc.) Most of my friends however are thousands of dollars in debt. Most students don't own jobs during college and amount that they will get spectacular job right out of college and become rich, therefore they can spend as much as they want immediately and pay it stale the day they graduate. I also muse that many college kids do not own knowledge of the necessity of credit, they think it's free money and don't reckon how it will affect them down the road.
1. Credit card offers start pretty much the morning you turn 18. Very tempting!
2. Many are managing their own money for the first time.
3. Bad financial customs or they never learned no to newly buy whatever they want whenever they want it.
Here's an assessment to support see if a college student if having credit card trouble. Hope it help with your research!
Credit card companies recurrently target college students, giving prizes to those who sign up. Then many of the students find it approach to easy to use them. Studying, want a pizza, don't own the money? Hey, just put it on the credit card. Then they suddenly realize they enjoy a couple thousand dollars to pay past its sell-by date.
simple, their parents may not have skilled their children the financial skills to handle money. probability are, the parents are also in credit card debt--living check to check. remember children and zilch more than an extension of their parents.