If you have to have a co-buyer for a loan and you make all the payments will this help your credit or the co-buyer's?
YOURS 99.7%. Theirs 00.03%
You MUST make the minimum payments or the company will come after you. If you just make the minimum payments you will eventually clear the debt but the rate of interest on credit cards is very high. If you are having trouble financially the first thing to do is to stop using a credit card (cut it up) then if you can not afford the minimum payments go and seek help from a third party…
Will it help your credit to close a credit card that shows late payments from four years ago even if you are in good standing now?
Your credit score can be decreased by having collection accounts listed, a judgment, late payments or if you have too much available credit. If you have that much credit, you would want to contact the credit issuer to lower your credit limit. Your debt should never be more than 35% of the available credit. Timely, consistent payments to your creditors and low credit limits will help increase your credit score.
If you have bad credit and someone with good credit applies for an extra card in your name will that help your rating?
Yes it will I had someone do that for me and it helped alot Yes it can help your credit IF you're sure to make all payments on time. You can not afford to miss not one. I stress -- You Must make EVERY Payments On Time in order to improve your negative credit history. By this person being nice enough to apply for an extra credit card for you, it gives you the opportunity…
Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt)…
In a divorce is a spouse not listed on the mortgage but listed on the deed required to help make the mortgage payments in Tennessee?
Always. In brief, bankruptcy will follow you for the next seven (7) years and make it difficult (if not impossible) for you to get any consumer credit during that time. If you are having trouble making payments, call your credit card company and let them know. In the process, help them understand that you want to be a good and responsible customer and ask them to help you figure out a plan that will meet…
Does credit score improve if you purchase a new car by financing instead of paying it all with cash?
When you cosign on a loan, you are liable for payment of that loan if the other person does not make payments. Any late payments and other negatives will be reflected on your credit report. The debt will be included in your debt-to-income ratio. If the person makes all payments on time, it could actually help your credit score. Usually, it's the other way around, though. Bottom line: as a cosigner, you are treated as…
Not really. When you co-sign you agree to pay the primary borrower's debt if they fail to pay. That debt would be counted as your debt if you applied for credit for yourself. In fact, if the primary borrower falls behind on their payments or fails to pay the debt that you co-signed for, it could ruin your own credit rating unless you make those payments on time.
If you are the co-buyer on a vehicle with your spouse and you are considering a divorce what can you do to protect your credit?
The only way to be sure is to make the payments. Even if the court orders your ex-husband to make the payments, that doesn't mean that he will. You should consider getting some other credit going on your own now, while you still have good credit. This will help if you have to re-build your credit on your own. Find out what car dealers don't want you to know at www.dealertricks.com
Just like Rent-a-Center... Aaron's does not run credit checks prior to the purchase of an item. Aaron's allow you to pay monthly installments without credit. However, they do report your payments to the credit bureau, which builds your credit. These are recent changes to Aaron's policy since they did not report to the Credit Bureaus to help customers build credit in the past.
You build up credit by making purchases on credit and making payments for them. Since you may not qualify for major credit cards, you can start with either debit cards or get department store credit cards such as Sears, Macys, Kohls, etc. The store credit activity becomes part of our credit history.
THEY ARE MEMBERS OF THE CREDIT REPORTING AGENCIES. THEY PAY TO REPORT YOU AS A YOU CONTINUE TO MAKE PAYMENTS. CREDIT CARD COMPANIES, CAR LOANS, JEWELRY, CLOTHING CREDIT CARDS ALL REPORT TO THE MAJOR CREDIT REPORTING AGENCIES. THIS IS A WAY TO TRACK YOU AND HELP TO ACKNOWLEDGE IF YOU ARE A GOOD CREDIT RISK TO ANY AND ALL OF THE ABOVE.