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Had a bad credit rating its been 8 years since you had bad credit yet im still listed how do you get your name cleared?
Wiki User
∙ 11y ago
If your bad rating is over 6 years old from date of last activity (DLA) and is still on your credit bureau. You should contact the credit bureau (Equifax, Trans Union, Experian) and request for it to be removed from your file.
Wiki User
∙ 11y ago
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Will a bad credit mark at 17-years-old affect your credit rating at 18-years-old in Florida?
In most places a 17-year-old can't have a credit rating, since they are not old enough to contract in order to create one.
When you settle on a credit card bill how does it effect your credit rating?
Credit card bills affect the credit rating in that the late payments will show on the report and points will be counted against you. Once you have paid, make certain that the three credit reporting companies note that it has been paid; eventually the account will age and become a positive for you. This is since it will show available credit that you are not using.
How to get credit rating removed?
If the credit rating is factual then it can't be removed till 6-7 years has pasted. If the derog/negative information has past few years then it won't be very significant if you've paid and kept your balances low since then. If the consumer feels it's bad and has an explaination to a bad rating, he/she can put a consumer narrative on thier credit bureau. A consumer narrative is a brief explaination that can be put on the consumer's credit bureau file so that when a lender/merchant pulls a credit bureau file, they will know that the consumer has looked at thier own file and has given an explaination. If the credit rating is NOT factual then the consumer needs to report it to the credit bureau and to the merchant to investigate before correcting the rating.
What happens if a finance officer changes your credit score to get you to qualify for something you wouldn't quality for?
Some companies have the ability to directly communicate with the credit rating company and can effect changes. However, like you, I would be leery. Only you know the financial situation you are in, but if your credit rating is low, it indicates late pay, judgements and other issues that you should take care of, not get in deeper. If you have cleared all of the issues and it is less than two years since doing so, your effective rating may be higher. Just remember, you will be paying for whatever he is selling you, so make sure it is within your means and that you have a solid job. Maybe a used car, a house payment less than 1/2 of your pay would make sense at this time so that you can build your credit.
Does canceling one's credit cards affect one's credit rating?
This will all depend on how old the account is. Regardless, you will notice that your score will drop a few points, but it's nothing to worry about, since you can build it up over time.
How do you get your mortgage payments counted on your credit score if you are on the deed but not on the mortgage?
Refinance the mortgage with you listed as a borrower. You will not be reported to the credit bureaus by being listed on the deed since you have no obligation to pay the debt.
Will a bad credit mark at 17-years-old affect your credit rating at 18-years-old in Florida?
In most places a 17-year-old can't have a credit rating, since they are not old enough to contract in order to create one.
Does IVA affect credit rating?
How will an IVA IMPACT my credit rating? If you get an individual voluntary arrangement, it'll be recorded on your credit report. Your credit score will go down as a result, since this number is based on information in your report. A lower score means you may struggle to borrow money.
When you settle on a credit card bill how does it effect your credit rating?
Credit card bills affect the credit rating in that the late payments will show on the report and points will be counted against you. Once you have paid, make certain that the three credit reporting companies note that it has been paid; eventually the account will age and become a positive for you. This is since it will show available credit that you are not using.
How to get credit rating removed?
If the credit rating is factual then it can't be removed till 6-7 years has pasted. If the derog/negative information has past few years then it won't be very significant if you've paid and kept your balances low since then. If the consumer feels it's bad and has an explaination to a bad rating, he/she can put a consumer narrative on thier credit bureau. A consumer narrative is a brief explaination that can be put on the consumer's credit bureau file so that when a lender/merchant pulls a credit bureau file, they will know that the consumer has looked at thier own file and has given an explaination. If the credit rating is NOT factual then the consumer needs to report it to the credit bureau and to the merchant to investigate before correcting the rating.
Can you get another car loan if you let the car go back?
It depends more on your overall credit rating and how much time has passed since you defaulted on your loan. In general the default will be removed from your record after approximately 7 years. After that, it will not have an effect. However, if you you have a bad credit rating due to other defaults, late payments, etc they will continue to negatively affect your credit rating making it difficult to get a loan.
What is the limit on a bad credit loan?
There really are no limits to a bad credit loan. This isn't something that one wants to achieve since bad loans impact one's credit rating and can lead to collection agencies pounding on your door.
What happens if a finance officer changes your credit score to get you to qualify for something you wouldn't quality for?
Some companies have the ability to directly communicate with the credit rating company and can effect changes. However, like you, I would be leery. Only you know the financial situation you are in, but if your credit rating is low, it indicates late pay, judgements and other issues that you should take care of, not get in deeper. If you have cleared all of the issues and it is less than two years since doing so, your effective rating may be higher. Just remember, you will be paying for whatever he is selling you, so make sure it is within your means and that you have a solid job. Maybe a used car, a house payment less than 1/2 of your pay would make sense at this time so that you can build your credit.
What can you do if a car repossession from three years ago is listed on your credit report as a charged off bad debt?
Since it's accurate, there isn't much you can do about it. If they had lied or if someone else had done it perhaps you might have cause to complain. Next time, pay your bills on time and the car won't be re-poed and you won't end up with a bad credit rating. Actions have consequences.
How Lenders Use a Credit Score Rating?
A credit score rating is a number that tells potential lenders how likely you are to default on a loan. They use this rating to determine if the potential reward they will receive for lending you money is worth the risk they are taking. For example, since those with sub-500 credit scores have a historical default rate of 83%, it is very hard for these consumers to receive financing. Lenders also use these ratings to determine what your interest rate should be. Those with a higher credit score rating will receive a lower interest rate and those with a lower score will receive a higher interest rate.
How long has the US maintained a AAA rating?
S&P has maintained a AAA rating on the US since 1941. Moody's has had an Aaa rating on the US since 1917 and Fitch has had AAA rating since 1994
Will leasing a car improve your credit rating?
Paying your bills on time is what builds your credit rating. You will be better off paying cash for a car you can afford, even used--or riding the bus. Leasing cars gets expensive in the long run since you pay a large amount for the car without getting any equity.
