Does eviction affect your credit negatively?
An eviction lawsuit is public record and a judgment evicting you from a rental property will be a negative entry on your credit report.
Would taking a loan from your current 401K account to pay off your credit card affect your credit history?
No. An eviction and judgment should show up on your credit report for only 7 years. If a 14-year old eviction is still on your credit, contact the appropriate credit bureaus for dismissal of the judgment. Note that the court files are permanent, and the landlord may still find the eviction that way, depending on how he screens tenants.
High Credit card balance affect your credit score negatively. See, the debt to credit ratio makes up 10% of your credit score. This means the amount of money you owe on a credit line. The more you owe, the worse it hurts your credit (maxed out cards do the most damage). It is recommended to try to be below 30% of your line of credit.
It's better to refinance. A short sale will reflect negatively on your credit record. It's better to refinance. A short sale will reflect negatively on your credit record. It's better to refinance. A short sale will reflect negatively on your credit record. It's better to refinance. A short sale will reflect negatively on your credit record.
No. It is not. There is no such thing as a debtor prison in the U.S. You might get sued in a civil court and have a judgment put on your credit report which will negatively affect your ability to obtain credit. But you won't go to jail or get arrested if you don't pay your balance. No. It is not. There is no such thing as a debtor prison in the U.S. You might…
If you transfer all your credit card balances into one account would that affect your credit score negatively?
Will it affect your credit rating and score if you have 5 credit cards but use only one and neglect the other four cards?
I have a car for 2 yrs now and is not fully paid but i want to return it will returning it affect my credit?
The amount of the loan forgiven becomes income on which you will have to pay income taxes. If the forgiveness is due to uncollectability, it will have a negative effect on your credit. Unpaid taxes will also negatively affect your credit. Filing bankruptcy or a special IRS form showing you were insolvent at the time will take care of the tax issue.
If you had a preapproved letter from AMEX but applied for another card on their website and were denied then sent for the preapproved one and got it will that affect your credit?
Bad credit or any negative report will remain in your credit report for seven years. Therefore, if it happens that there is a wrong information that will affect your report negatively, be sure to dispute it immediately. You can also do your own credit card repair in order to eliminate any bad credit that will be reflected in your credit report.