Just had my feelings hurt

[Anonymous]

Yeah, you're right. I just hope that the company I have my car note with follows through with what they said. I've heard some not so nice things about Consumer Portfolio.

:0(

I do have a question though. Would doing a debt consolidation loan hurt me? I'm thinking paying back $16,000 in 48 months is more like having a car note, but then again my car will be paid off come next year August and 2 installments come next year Feb., so I guess that would be plain retarded. LOL Maybe I'll just double up on payments when I can.

[mauve]

It would show up as new credit and drop your average age of accounts - what benefit are you hoping for?

Doubling up your payments will get you out of debt faster, but I'd suggest specifically deciding on how much you can pay out and putting all of the extra towards the highest interest debt (while continuing to pay the regular payment on the rest) and knocking it all out that way - you'll pay less interest that way.  That's assuming the goal is getting out of debt.  If the goal is changing your DTI scenario, I'd knock out the lowest debts first so that the total due out monthly decreases quicker.  If you just want to qualify for a mortgage and your DTI is fine, you can always leave them as-is and up your score by dealing with the most recent items on your credit reports, making sure there's no outstanding not-in-repayment debt, and maximizing the benefit you get from revolving accounts.  It all depends on your timeframe and your exact goals.  Paying down the installment debt will not have any significant effect on your scores, but it will help reduce your DTI given you pay some of it completely off.

[Anonymous]

I'm really trying to lower my DTI. I'm guessing my EQ score will go up slowly but surely when the Verizon (below) and "Repossession" fall off right? Right now I believe my TU score could be my middle score (647). Experian (Credit Keeper FAKO) is 665.

Well, I just got off of the phone with another CA/Verizon, they manually updated that I paid the account (paid/charge off), I tried to sweet talk the guy into deleting but that was a NoGo. lol ..... The only baddie baddie left is the KFCU ($750, due to fall off next Jan/Feb) which I'm still working on and I'm still waiting on the "repossesion" to be cleared up. Everything else is pretty much "paid/was collection item", even the tax lien.

I'm just trying to clear up my credit so I will be able to buy a house in the future. I just wish I hadn't waited so long to look at my credit report. Maybe then I could have had a hold of it before mother dearest went credit happy and put everything she owns in my name.

[mauve]

If it's "some time in the future", I'd advocate paying off from the highest interest rate to the lowest, and maybe periodically killing off a lower-balance tradeline.