How does an agreement on a Chase credit card debt settlement offer affect your credit rating?
A debt settlement offer has no bearing on your credit rating or score. It is only an offer, a proposal. Your credit rating is based on how you have paid the debt in the past 7-10 years. Your credit score is a numerical picture of your assessed risk as a borrower, based on the information in your file at the time the score is requested.
Is there a different affect on your credit if there is a consent judgment or a settlement order entered?
This answer depends on the procedures of the courts in your state. Generally, a judgment will be reported on your credit rating a will be a negative mark against. Instead, you can have a stipulation for settlement that keeps the case open and then the case is dismissed when the settlement has been fully paid.
no it does not affect your children's credit rating. credit score is based on how an individual uses credit, not on how other people uses credit. what possibly may happen is children may learn thier parent's bad credit habits. if a consumer needs a co-signer (parent) then if the parent has a bad credit rating that will affect the loan
Is it possible for the colletion agency to restore my credit rating after negotiating for less than amount owed?
If you and your fiance want to get a joint bank account but he has filed bankruptcy in the past will this affect your credit?
If your credit rating is excellent will cancelling a store credit card after paying it off in full in the first billing cycle affect your credit rating?
My condo community has decided to put new siding on your homes and if I don't pay 5500 they will put a lien on my home. Will that affect my credit rating?
It is hard to tell exactly how the forebearance agreement will affect your credit score without knowing all of the information regarding your credit history. If you are trying to refinance out of a forebearance agreement: Every lender is different, but most subprime lenders (Mortgage lenders who deal with borrowers with low credit scores) require the forebearance agreement to be paid as agreed (on time and with the correct payments) for a full 12 months…
Credit counseling helps people by putting them on a plan to get out of credit card debt. Without this, most people would have no clue as to how get out of debt. ----------------------------------------------------------- The fact that you may be receiving credit counselling will not be known than thus will not affect your credit rating.
If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a home and before I went to settlement they pulled my credit again and her bankruptcy came up - preventing me from getting the house. So yes it will affect your credit because it will show up on your credit report that that person has filed for bankruptcy.
Will closing your checking and saving accounts to open checking and savings accounts with another bank affect your credit rating?
How can you have a lien removed from a car that was given to someone as part of a separation agreement?
Greg, the lien was put on the car as part of an agreement between you and the LENDER. You cannot change that agreement without the permission of the LENDER. That agreement was dependant on YOUR credit rating and can only be tranfered to someone with equal credit and the lenders acceptance. Call the lender and see if they will let someone assume the loan and remove you from it.