Contact the credit card company and explain your circumstances. Whatever the problem, you are 100% responsible for the debt that person has incurred. Cancel their credit card (should have been done immediately) and pay off their debt! If you are fortunate enough to have your own credit cards after all this and have a good credit rating and you are paying off this person's debt then your credit rating will not be altered in any way. DON'T COSIGN FOR ANYONE! Marcy
The signers on a lease are liable for charges during the term of the lease.
A foreclosure will be expunged from a person's credit report after seven years have expired from the time the foreclosure was reported. Valid information on a credit report cannot be removed until the required time limit for reportage has expired.
Yes, I am 27 years old I've had credit history for the past 3 years, I have NEVER missed a payment, always paid on time and I only have two credit cards that are open. I cosigned an automobile loan for a "friend" they paid late twice and I just found out my score is 584. BS right.
no, as a loan requires credit, and you cannot have credit until the age of 18. Your PARENTS can, though.
Try to help her find a BUYER for the car before it gets repoed. If the payoff is $5000.oo and your buyer will only pay $4200.00, find the $800.00 needed to pay it off and you're both home free. great credit(mostly) and NO collection hassles. good Luck
Usually a foreclosure will lower a person's credit score by 250 points, and sometimes by as many as 280 points. The foreclosure stays on a person's credit report for seven years.
You cannot get it removed from your credit report. It will be on your credit report for 10 years and it will affect your ability to get loans and other type of credit accounts.
It should rotate off of your credit report about 7 years after being discharged. It cannot be removed.
A bankruptcy will remain on a credit report for the required ten years, it cannot be removed arbitrarily.
An entry may be marked 'paid' or 'settled' but it will remain on the credit report for the required 7 years and cannot be removed by the consumer. The consumer can write a 100 words or less letter of dispute to the reporting credit bureau(s) and the letter will be added to the person's credit file.
No if a person cannot live to be a thousand years old then he or she cannot live one million years the high record is 125 years old
nothing ive been their all u can do is explain the situation to whoever ur applying for credit. u might be able to take him to small claim court and sue him for the remainder of the balance to pay it off
First off once you file bankruptcy you cannot do it again for 7 years. Bankruptcy stays on your credit report for 10 years. Rather to try to describe what the different types of bankruptcy will do to your credit click the link for more information.
You are better off to give the money to someone rather than cosign. Cosigning means that you are responsible for that debt if the person you cosigned for doesn't pay up. The court would have your son-in-law sell the vehicle and pay the bank back and whatever is left over is your responsibility. Go to the bank you and your son-in-law went too and they will straighten things out for you.
A paid judgment stays on a person's credit report for seven years. An unpaid judgment also stays on the report for seven years, but may be renewed. Tax liens are another item that stay on a credit report for seven years, if paid. If not paid, they remain on the credit report indefinitely.
It will cause the credit score to decline and will remain on the credit report for seven years, perhaps creating problems for the person to obtain future credit/loans.
When a person files for bankruptcy and their case is discharged they can immediately begin rebuilding their credit. It isn't unlikely for a person's credit score to bounce back to 750 or higher within the matter of a couple years.
Once 18 this person may apply for any credit card (at first few will accept) once this person sets a good credit line other companies will be eager to pre-approve this person.O
No, they cannot be renewed. But they can stay on your file for up to 20 years.
Adverse information must be removed within seven years--except bankruptcy, which remains in a credit file for 10 years. Disputed information that cannot be verified must be removed
they get turned in to a collection agency and if they cannot collcet a lawfirm will try to collect if they cannot collect you will be served
In order to remove obsolete tradelines you must dispute it as obsolete with the 3 credit bureaus.
Not really. Banks are very conservative by nature. They have fairly strict underwriting criteria. If you do not have established minimum of 2 years credit, than you must find someone who will co-sign with you who does. Try www.onesimpleloan.com They have about ab 80% approval rate on loans if borrower's meet certain criteria.
If they are valid debt default entries they cannot be removed from the report until the required seven years have expired.
If the account is legitimately yours, then you cannot legally have it removed from your credit report. However, if you paid the collection account off, it should be reported as paid on your credit report. Still, the accounts will not be removed from your credit report for 7 years.