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What else can I help you with?
Will a short sale ruin my credit score?
Yes, a short sale can negatively impact your credit score as it is considered a derogatory mark on your credit report.
Will a credit check ruin your credit score?
No, if you fill out applications to open a line of credit then that will change your credit score but simple inquires of your personal credit score will not ruin it. It is better to keep an eye out on your score and report to make sure no one has opened an account in your name or to dispute anything that doesn't seem right on your report. Always pay your bills on time and more than the monthly payment to increase your score. A Excellent score is above 800 points and 700-799 is a good score.
How do you secure a VA loan for multi housing with no or little down payment when your credit score dropped from 840 to 500?
One will not be able to secure a VA loan for multi-housing with a low down payment and a credit score of 500. Despite the Veterans Association providing a minor backstop (financial guarantee) for veterans, a credit score of 500 will ruin your chances. If possible, get a co-signer, preferably with a better credit record.
What type of things can ruin your credit?
There are many things that can ruin your credit. One of the biggest things that can ruin your score is missing payments, especially if you miss more than one. Delinquent payments can really bring down your score, especially if they go beyond 30 days late. Another way your credit can get ruined is if you apply for lots of credit cards at once. Although applying for new credit is a fact of life in our credit society, filling out too many applications gives potential lenders a red flag that you are living or planning to live beyond your means. In addition, running up your balances can take a huge chunk out of your credit score, so make sure the balances on your cards and loans are under control or else you could be losing valuable points. Personal quip: good luck and happy borrowing!
How significant an impact does a late payment make on a credit rating?
A late payment on your credit card bills can gradually ruin your credit card rating if you continue on failing to meet the bills for consecutive months. The penalties will be carried on month after month, thus ruining your score.
Can a collection ruin your credit report?
Yes a collection can ruin your credit report. Collections are similar to charge offs and will lower your score significantly all depending on the age of the collections and the amount owed. You can remove a collection by disputing it to the credit bureaus or by contacting the original creditor and working out a deal. Either way works well. You might have to hire a credit repair service if you decide to dispute it or have the money to settle the collection if you contact the creditor directly.
Can a Debt Collector Threaten to ruin your credit?
Technically, you have already ruined it. They are just going to report it. If that is what you mean by threaten to ruin your credit, then yes they can. Legally.
What information does a collection agency need to ruin your credit?
A collection agency does not "ruin" someone's credit. The person who defaults on their financial obligations is the one who is responsible for that. W/o certain information it is difficult for a debt to be collected or reported to CRA's. Agencies employ skip tracers who are very good at tracking down elusive debtors, so eventually they will track down the person.
Is there a difference between a balance on a credit card or a loan from a financial institution in terms of credit history and credit rating?
AnswerDo you mean does a loan balance impact your personal credit differently than a credit card balance? Your rating and score are both contingent upon your pay history. The loan company is irrelavent.will a deliquent credit card hurt my other creditors or ruin my credit history
How many credit cards can I have open in my name at one time Is it bad to have a lot?
it's a good idea to have as few open at a time as possible. Having too many credit cards open at once will ruin your credit score. You're not going to have to pay anything for the credit cards unless you use them, so in that sense, it doesn't matter how many you have. However, opening too many will drop your credit score significantly, so it's not a good idea to have a bunch open at the same time.
You did a deed in lieu 2 years ago this month when should you be able to get a new mortgage your credit score is about 660?
I dunno. I'm just a kid who decided to be a fag and ruin someone else's question.
What is your credit score based on?
As you already know, when you pay for something on your credit card, you eventually have to pay the bill off with real money. So your credit score is based on if you pay back that bill, and if you pay it back on time. And say you own a house you have to pay mortgage, if you don't pay your bills on time, then you credit score will be bad as well. But be careful because have a bad credit score can ruin a lot of things for you. Like buying a good car or house. Because having a bad credit score tells people that you are unreliable to sell something to that involves a monthly payment. So if you expect to buy a house or car with bad credit, you would have to bu it using a check or cash. This is why I suggest using a debit card for everyday using like grocery shopping, because it only allows you to use the money that you have in the bank therefore you cannot go over. Hope I helped, sorry for such a long response.
