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Can you forget a debt a debt or have a debt forgiven and not have it hurt your credit?
Wiki User
∙ 12y ago
When a debt is forgiven (a forgetadebt as you call it), it will be reported to the credit bureaus. But you will have less debt, which is a positive.
Wiki User
∙ 12y ago
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Does your debt hurt?
Debt can help or hurt you when applying for credit.
The amount of credit-card debt a person has?
The amount of credit card debt a person has may hurt them from receiving credit when they apply for loans. It is called debt to income ratio.
When should you close unused credit cards and will this hurt or help your credit score?
Usually closing accounts will hurt your score because if you have debt on other cards, your debt to available credit ratio will rise and it can ding your credit score.
Will debt counseling hurt your credit?
Getting debt counseling is a good thing and shows your willingness to take care of your debt in a responsible way. If you are undergoing debt counseling, a notation to that effect may be appear on your credit report. This does not affect your credit score but how each creditor views this notation, differs from creditor to creditor. While it may seem unfair, there are some creditors who view debt counseling as a negative to your credit worthiness. In their view, the fact that you are in an unmanageable debt situation is not a good sign, unless you can convince them otherwise. So the reality is debt counseling may hurt your credit, depending on the subjectivity of the creditor.AnswerDebt counseling will never hurt your credit, since it is an educational activity. If you choose to enroll in a debt management program, that does not hurt your credit either. What could hurt your credit is closing any accounts that have substantial available credit. Other than that, your credit generally improves over the life of the debt management program.
Are debt consolidations bad for your credit score?
Yes, debt consolidations can be a negative factor on your credit reports. Though it is probably worth it to consolidate your debt rather than go deeper into debt, which will hurt your credit even more.
Does it hurt credit to do debt management?
If you manage your debts well, that will be good for your credit. If you manage them badly, then yes, your credit will suffer.
If you use MBNA Cleansweep for 10K debt but need a co-applicant can the co-applicant's credit be hurt?
Yes. The debt will appear on the co-applicant's credit reports
Does debit consolidation hurt your credit?
{| |- | There is a chance that using debt consolidation services might affect your credit. Some debt management programs, like credit counseling, show up on your credit report. Some solutions, like debt settlement, don't show up on your credit report, but by definition cause late payments. Most debt consolidation services are there to help you get out of debt, not to sustain your credit report or credit score, so you should priorotize what you really want in seeking debt consolidation help. |}
Will it hurt if you voluntarily return my car?
Yes, it can still hurt your credit if you voluntarily return a car. The car company will still put the debt you owe on your credit report if they choose too.
Can business credit card debt affect my personal credit card balance?
A business credit card debt can affect someone's personal credit card rating. A credit report for an individual is processed by activity of one's overall credit. This means that having debt for a business credit card can hurt a person's chances of receiving lower interest for a home finance loan.
Will settling a credit card debt hurt your credit asdfsdf?
NOT really. All I know is party is cats and raining dogs and mice and food
Can keeping inactive credit cards hurt your credit rating?
It can, just because there are a lot of credit lines open, and so your potential debt is higher. If you really aren't using a credit card, it is better to cancel it. However, in terms of things that hurt your credit rating, having an inactive card is relatively low.
