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How do you fix negative credit when it was originally someone else's bill and they come after you because you are his wife?
www.ftc.gov has links that will allow you to print yourself off a copy of the Fair Credit Reporting Act. In the Act, you will find the definition of "debtor". If that definition does not apply to you, you have not inherited an estate (and the estate's liability due to inheritance laws), or have not signed a contract/agreement to pay a debt; then you are not liable. The website will also provide you information on how to dispute erroneous information on your credit report.
What else can I help you with?
Does adding someone as an authorized user affect my credit score?
Yes, adding someone as an authorized user can potentially affect your credit score. If the authorized user has a good credit history, it may have a positive impact on your credit score. However, if the authorized user has a poor credit history, it could potentially have a negative impact on your credit score.
Do mortgages go up if you have bad credit?
Absolutely. If your credit history is negative and your scores are low as a consequence, lenders will consider you a higher risk. If your credit score is, for example, 680, a lender will charge you a higher interest rate than someone with a credit score of 750.
Does consolidating debt have a negative impact on credit scores?
Consolidating debt can have a temporary negative impact on credit scores because it may result in a new credit inquiry and a change in credit utilization. However, in the long run, if the debt is managed well, consolidation can improve credit scores by making it easier to make timely payments and reduce overall debt.
If the bank closed my credit card due to too many credit inquires appeared in my credit profile saved by the 3 credit score agencies will this appear as a negative sign on my credit report?
I'm not sure if you are asking if the bank closing will be negative or if the inquries will be. The inquires are negative.
Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?
You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.
Is credit a negative or a positive word?
It depends a bit on the context, but usually it is positive, like in: "giving someone credit for something". Checking someone's credit rating means seeing if he is good for his financial obligations.
Does adding someone as an authorized user affect my credit score?
Yes, adding someone as an authorized user can potentially affect your credit score. If the authorized user has a good credit history, it may have a positive impact on your credit score. However, if the authorized user has a poor credit history, it could potentially have a negative impact on your credit score.
If you marry someone with bad credit does is mean you would also have bad credit as well?
Not necessarily. However, if you enter into a joint financial transaction such as a mortgage, it may have a negative impact.
Is it against the law to run someone's credit without their permission?
Yes it is against the law, because by running someone's credit without permission is committing Fraud.
Explain why consumer credit can be costly?
consumer credit can be costly because when you used someone else money you have to pay interest
Do mortgages go up if you have bad credit?
Absolutely. If your credit history is negative and your scores are low as a consequence, lenders will consider you a higher risk. If your credit score is, for example, 680, a lender will charge you a higher interest rate than someone with a credit score of 750.
Does consolidating debt have a negative impact on credit scores?
Consolidating debt can have a temporary negative impact on credit scores because it may result in a new credit inquiry and a change in credit utilization. However, in the long run, if the debt is managed well, consolidation can improve credit scores by making it easier to make timely payments and reduce overall debt.
If the bank closed my credit card due to too many credit inquires appeared in my credit profile saved by the 3 credit score agencies will this appear as a negative sign on my credit report?
I'm not sure if you are asking if the bank closing will be negative or if the inquries will be. The inquires are negative.
Can someone with bad credit co-sign with someone with good credit and get a card using the other person's good credit?
You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.
Will your credit score be affected after a dispute?
Yes (if it is a dispute on an item on your credit report). Either your score will improve because you corrected a negative error, or it will not change because no correction was deemed appropriate and nothing will change.
How long will negative information concerning your use of credit because in your credit report?
Negative information, such as late payments or defaults, can remain on your credit report for up to seven years from the date of the missed payment or default. Bankruptcies can stay on your report for up to ten years. While the impact of negative information may lessen over time, it can still affect your credit score and borrowing ability during that period. Regularly monitoring your credit report can help you stay informed about any negative entries.
Can you send credit from someone to someone else?
No, you can not give credit that you have to someone else. You can loan someone money or your credit card, but you are still responsible for paying the credit card company back.
