Posts Tagged ‘creditors’

What's the importance of knowing your credit score when the creditors run your credit anyway?

Wednesday, June 16th, 2010

When I apply for loans and tell the creditors what my credit score is they still run my credit. All the reports I read talk about the imporatnce of knowing your credit score and that’s fine. But what’s the importance of knowing my score when the creditors run it anyway? Also, how do we know that the rates that we qualify for are true based on ourcredit score? Is there a chart tat we can put our credit score up against and it tells us what rates we qualify for?


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Tips for Helping Family Avoid Bankruptcy

Wednesday, June 9th, 2010

How to help family members evade bankruptcy and keep their assets.

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When you file for personal bankruptcy, can creditors touch your equity in your home?

Monday, May 31st, 2010

I am thinking of filing for bankruptcy. Can creditors touch the equity I have in my home? What assets can they cease?


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What to do with bonus- pay the credit cards or make an investment?

Thursday, May 27th, 2010

we never live with credit cards before. and now we have 5000$ on our credit cards that we cant close . we are doing a min paymant every month and trying to pay more than that. we will have a bonuce 7000$ at the end of the year. will it be beter to pay to credit cards at onece. or there is another way to pay credits(and put this bonus on investment).
I read about calling to creditors and talking with them, so they will give a 10-20% of if we will pay it atonce, but will it afect in bad way to our credit report.
Sorry for wrong English writing.
Will caling a creditor afect on credit report badly?


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How does the credit score point system actually work?

Thursday, May 20th, 2010

I want to know how do they determine the credit score point system. I know what is credit and how it works. But I want to know the numbers part like if someone runs your credit report it takes off 2points from your score, another is what if your late on your payment how much does it take off then and if I have a loan for a certain amount does that mean I get a big score or a low score? I have some old accounts (5yrs old) that need to be paid off but if I do pay them off will it really make a difference on my score? Next thing you know I pay them off and then my score only goes up by 4 or 5 points or will I even get a point. What would be the purpose then? At the same time if creditors do look at my report yes it would show paid off but the history would still show that I was delinquent for 5yrs. Whose gonna want to give me a loan any ways? Basically what is the point system and how is it calculated? Let me know so I can start to repair my credit. Much thanks and I appreciate it!!!


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