No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I have two paid CO's and the last activity date is Januray of 2009. How long will it continue to affect my score?
About 7 years from DOFD. Max 7.5 years.
@namvet wrote:About 7 years from DOFD. Max 7.5 years.
Dam! i'm screwed! i will never buy a home! Thanks.
@720ismygoal wrote:Dam! i'm screwed! i will never buy a home! Thanks.
Not necessarily. I'm no mortgage expert but I have read enough to know that paid collections and CO's will often not be a automatic denial for a mortgage depending on their age and what else is on your reports. You'll just need to check out different lenders and what their requirements are.
For scoring purposes all negatives will lose impact over time but a major derogatory such as a CO will continue to hurt for the entire period it can report. Have you tried GW letters trying to get these removed early? When is the DoFD on these CO's?
@MarineVietVet wrote:
@720ismygoal wrote:Dam! i'm screwed! i will never buy a home! Thanks.
Not necessarily. I'm no mortgage expert but I have read enough to know that paid collections and CO's will often not be a automatic denial for a mortgage depending on their age and what else is on your reports. You'll just need to check out different lenders and what their requirements are.
For scoring purposes all negatives will lose impact over time but a major derogatory such as a CO will continue to hurt for the entire period it can report. Have you tried GW letters trying to get these removed early? When is the DoFD on these CO's?
They are from January of 2009(DoFD). The accounts were sold, it was then that i paid them in full, nothing bad since. Yes, i just send the fisrst round of letters about three weeks a go and i haven't heard anything, yet. Should i try another round? Thanks Marine!
I would continue to try to GW if they are paid accounts. The squeaky wheel gets the grease.
@Familywantsahouse wrote:I would continue to try to GW if they are paid accounts. The squeaky wheel gets the grease.
Ditto.
@MarineVietVet wrote:
@Familywantsahouse wrote:I would continue to try to GW if they are paid accounts. The squeaky wheel gets the grease.
Ditto.
What's ditto x2 I'd keep sending them and don't get (too) discouraged if the initial responses are no. I've been told no repeatedly by WFNNB and was feeling defeated yesterday but decided it's worth the try. All is takes is a few minutes of my time and a stamp. I figure at this point the worst they can tell me is no! Good luck!