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What else can I help you with?
Can you improve your credit score by cosigning for someone who has little or no credit?
No, such activity only lowers your credit rating. It goes against your total indebtedness. Plus, if they default it can kill your credit rating and take years to remedy. Mark
What is a credit ratingvgggjgggg?
A credit rating is a rating of how well a person pays their bills. If bills are paid on time the credit rating goes up.
How can you build and protect your credit rating?
You can build your rating by making sure you pay bills on time. Unfortunately, if you don't have a bank/building society account or credit/store cards or pay utility bills, it is virtually impossible to build a credit rating. Having said that, if you pay utility bills, even on prepayment meters, your details are "logged" with credit reference agencies and you have a rating. If you fall behind with payments it can take up to 7 years to repair the "bad" rating as that is how far back the complete record goes.
When your home goes through foreclosure do you still have to pay the loan off from the bank?
no...the note goes back with the bank...your credit is ruined for five years
Would it be better try to settle for less of amount owed with credit card companies or wait until it goes to collections to settle?
Always better to try settling with the credit card company before it goes to collections. Once it goes to collections, your credit rating (score) is effected greatly, and that rating stays with you anywhere from seven to fifteen years, and it can't be erased simply by paying off the debt - it will stick with you for what seems like an eternity and will hamper any and all efforts by a person seeking credit ever again.
Is a credit score of 510 bad?
It is a mediocre score. As a side note: every time you check your credit, your credit rating goes down. Yes, any score under 600 is considered "bad".
Does it matter credit wise after a car is repossessed whether you pay off the balance immediately or let bank auction and settle the difference?
Nope and it doesn't matter if it is a voluntary or involuntary repossion. Once the first payment is overdue by 30 days it automatically goes on you credit report as an overdue payment and then once the car is reposessed it goes on your credit and makes NO note to why it was taken back or whether you gave it back and even if you pay the amount off it is still on your credit for 7 years
Will getting a car loan lower your credit score?
Any kind of loan goes against your credit rating. Most car loans are given by contracted companies, like Citi Financial, and acts like a regular loan against your credit.
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
What can happen if you can't pay back on a installment loan?
It goes into default & will damage your credit. The only way it goes away entirely is if it's beyond statute (7 years generally) settled for some lump sum later or discharged in a bk.
China's written history goes back about years?
3,500 years.
If you join into a mortgage as a spouse but are not liable for the underlying indebtedness will this affect your credit rating?
You need to discuss this issue with an unbiased professional. If you "join into" a mortgage you are indeed liable for the underlying indebtedness. Otherwise the lender wouldn't ask you to sign the mortgage. If the mortgage goes into default it will not only affect your credit rating but the lender can go after you for payment.
