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If you've been timely with payments since, try contacting the company that originally flagged the default payments to see if they will work with you to remove them. If they were valid default payments then they may so no outright. Otherwise, they will fall off your credit report eventually (7 years, I think).
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∙ 16y ago
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How do you clear defaults off your credit file?
you have to submit a statement regarding each default to each credit reporting. Try to be as concise as possible.
What does it mean to be a cosigner for a car?
With your good credit you sign a contract to pay off the loan if the original borrower defaults.
What happens when a country defaults - what are its options?
It can no longer get credit
Can someone with no credit cosign for someone?
A lot of creditors will not accept a co-sign from someone with no credit. They want proof that if the person who takes out the loan defaults, the co-signer will have the credit funds available to pay off the loan.
What are some ways that one can increase their credit score?
There are many ways one can increase their credit score. This includes paying off any defaults due on their account, as well as making sure all credit payments are done on time.
If you file bankruptcy will that remove a charge off report from a credit card?
Filing bankruptcy does not remove a charge off report from a credit card on your credit report. It just adds bankruptcy to your credit report.
What happens if you file chapter 13 and defaults on payments?
The trustee will file a motion to dismiss to get your BK case thrown out.
What is the credit score you start off with if you have no credit?
If you don't have credit, you **can't** have a score, since they are solely based on your use of your credit. The bureaus return a report saying "no credit information on file".
Does your credit go bad if you cosign on a car?
if the principal loanholder defaults you will be stuck with the payments.Miss them and your credit can go VERY BAD!
Should you pay off your repo car?
You should pay off your repossessed car if you want to fix your credit quickly. If you are not worried about your credit, you can wait to pay off the car or file for bankruptcy.
Does your credit score change monthly?
Your credit score changes about every month. It is updated with new credit applications, defaults and purchases. It is important to check your credit score often.
How will your credit score be affected when the bankruptcy drops off?
That depends on, what's on your credit bureau file. The score will look at the age of your credit cards, balances and payment history
