General Credit Topics

[Sylviatob]

ahhhhh, ok I understand now. My bad.

Does the hospital still own the accounts? If so you can start negotiating with them for PFD of the baddies.

And believe you me, once they collections are gone, and have had a few months to report your scores WILL rise, based on those actions alone.

50!!?? Oh dear. Are you saying that, of the 50 inq's on your CR, you can only account for 13 of them?? Oh my. That would scare the bajibeers out of me!

In this case I'd dispute the 37 as NOT MINE! Not to worry you, but I'd be concerned about why and how they got there to begin with. But that's only me.....I'm an alarmist, but I'm careful.

I hope others will comment on this.

Good luck to you dear.

[nikkoslilmouse]

I have a fraud alert on my CR's because I had joined the Disney Club to buy movies and one of their employees sold my CC and Personal information. Well I have a letter from them and sent copies to all 3 CB but they still just let people pull it. I am with a CU now and have just spoke to them about getting help to pay off the collections and CC all into one. She told me to fax over the app and she would see if their CC or Loan would work the best for me and she also mentioned refieing our car loan to a lower intrest rate as well. Man they are great. I hope she can help me.

[SanFranMatt]

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beach123 wrote:

I AM so glad I just saw this...I was just going to pay off my car!

SO, what/how do you recommend?  That will only keep it open for one month - should I pay it down to where there may be $200 remaining???

THANKS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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When my GF pre-paid $5K last month, her statement said "next paid due December 2008". 

Her last payment is supposed to be on December 2009.  So if she pays down everything except the $100, then she can just pay that down two years from now (and not make any interim payments).  She'd just have the interest accumulate on the $100.

[DavidLee]

"FICO 08 is likely to face some competition from VantageScore Solutions LLC of Stamford, Conn., a joint venture of the three credit bureaus that was rolled out in 2006."

This is the part that bothers me about the article. I really don't want to have to focus on 3 additional scores & if you factor in the "FICO Auto Enhanced Scores" that means we now have 9 different scores to worry about! I just started fixing my FICO scores & I don't want to worry about VantageScore now as well.

[Takunda1]

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SanFranMatt wrote:

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beach123 wrote:

I AM so glad I just saw this...I was just going to pay off my car!

SO, what/how do you recommend?  That will only keep it open for one month - should I pay it down to where there may be $200 remaining???

THANKS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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When my GF pre-paid $5K last month, her statement said "next paid due December 2008". 

Her last payment is supposed to be on December 2009.  So if she pays down everything except the $100, then she can just pay that down two years from now (and not make any interim payments).  She'd just have the interest accumulate on the $100.

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No. If you miss your next payment you'll be charged a late fee. Most auto companies will allow you to pay up to 3 months max in advance.  Remember keeping your account open when the company is not generating money from it is not worthwile for the company. Since the 5 k has already been paid, all there is to do is to make the last payment in Dec. Besides the auto loan info will still stay on your credit report for 10yrs after its paid off.

[SanFranMatt]

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Takunda1 wrote:

No. If you miss your next payment you'll be charged a late fee. Most auto companies will allow you to pay up to 3 months max in advance.  Remember keeping your account open when the company is not generating money from it is not worthwile for the company. Since the 5 k has already been paid, all there is to do is to make the last payment in Dec. Besides the auto loan info will still stay on your credit report for 10yrs after its paid off.

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I wonder if this varies by lender.  She goes through Toyota Financial, and the website clearly says that the next payment is due in December 2008, meaning she pre-paid for a year.

Also, I've read several posts where people's score dropped right after paying off a car loan.  While it still stays on for 10 years, I don't know that it still has the same positive effect if it is paid off.

[beach123]

I took the plunge today & spoke with a reputable lender for me, and he told me he needs 12 months good credit (no lates, nothing); on 3 trade lines...if I were to pay off the car, it would NOT count...my problem is I have a lien on my CR and the IRS is refusing (or at least the biach I spoke to) to work with me at all, and to be honest, in figuring it out, I would end up paying off the assessed value, have another 5 years of interest, etc. so it would never end.

I'm playing it slowly and paying most of my auto loan off because it will save me a bunch of interest until I get the IRS figured out...the auto finance company already killed me to the tune of about $5.5k, but like clockwork, if I have to wait until 3 days past the DUE date (but within the GRACE period), they are calling me at 8 AM...can't wait to tell them to please send me the title, you'll never get business from many people because of your b.s.delaying payment posting, etc.