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What else can I help you with?
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
What is a responsible use of credit?
Buying something on credit and making many payments on the account over months gradually paying down the debt. If you are seeking to build credit, then don't pay it all off too quickly as that doesn't establish a history of making payments. It takes at least 6 months of payments to even affect your credit report. Also, don't only pay minumim payments. You want to establish that you can be trusted and will not strecth yourself too thin.
What is the process of house repossession?
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
What is it called when the bank takes possession from a mortgager because of default payments?
When a bank takes possession of a property from a mortgagor due to default on payments, it is called foreclosure. This legal process allows the lender to reclaim the property and sell it to recover the outstanding loan balance. Foreclosure typically occurs after a series of missed payments and can significantly impact the borrower's credit score.
What should I do if I have difficulty paying my monthly loan payments paying his credit card bills?
If the loan payments are in your name only, then you need to bring up the need for him to pay you back. Certainly, if there is no sympathy or money contribution immediately coming, it is going to affect your relationship. Sometimes we want to be helpful, and the other person takes advantage. All you can do is shut down the help you have been giving him.
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
What is a responsible use of credit?
Buying something on credit and making many payments on the account over months gradually paying down the debt. If you are seeking to build credit, then don't pay it all off too quickly as that doesn't establish a history of making payments. It takes at least 6 months of payments to even affect your credit report. Also, don't only pay minumim payments. You want to establish that you can be trusted and will not strecth yourself too thin.
What is the process of house repossession?
House repossession refers to the process by which a financial organization takes ownership of the house as collateral due to failed payments or inability to pay.
If you lose your job is your spouse responsible for your child support payments?
No, but any accumulated arrears can affect joint credit ratings. The obligated parent needs to file an immediate motion to modify support payments, regardless of any belief a new job may be forth coming. It takes 6-12 months to get a hearing. see link
Can a vehicle be repossessed if you allowed a military person to take over vehicle payments and he has not paid anything?
it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.
When selling your house do you have to keep making house payments?
Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.
What is it called when the bank takes possession from a mortgager because of default payments?
When a bank takes possession of a property from a mortgagor due to default on payments, it is called foreclosure. This legal process allows the lender to reclaim the property and sell it to recover the outstanding loan balance. Foreclosure typically occurs after a series of missed payments and can significantly impact the borrower's credit score.
What should I do if I have difficulty paying my monthly loan payments paying his credit card bills?
If the loan payments are in your name only, then you need to bring up the need for him to pay you back. Certainly, if there is no sympathy or money contribution immediately coming, it is going to affect your relationship. Sometimes we want to be helpful, and the other person takes advantage. All you can do is shut down the help you have been giving him.
How do you calculate monthly payments on a credit card?
To calculate monthly payments on a credit card, you can use a formula that takes into account the card's interest rate, balance, and the number of months you want to pay it off in. This formula typically involves dividing the total balance by the number of months, then adding the interest accrued each month.
Will the satisfaction of a judgment affect your credit score and does it completely come off your credit file or show as satisfied?
A judgment will reduce you credit score. It takes about 7 years for an item on your credit report to be removed. You have to make a request for it to be remove from your credit after you 7 year period.
Do you still pay a mortgage if your house burns down?
no you dont. the bank takes into consideration that there is no longer a house standing and excuses from the mortage providing you have good credit.
How low can your credit score be?
Credit scores typically range from 300 to 850, with scores below 580 considered poor. The lowest possible score is 300, which indicates significant credit risk. A low credit score can result from missed payments, high credit utilization, or a lack of credit history. It's crucial to understand that improving a low score takes time and responsible credit management.
