Credit Repair Questions & Answers

Luvinmylife2 asked:


I have excellent credit and zero debt. My house is paid for, debt free, and I do not have any outstanding debt. I have had loans in the past, but I’ve paid them off. Therefore, I do not have a credit score. I want to tap into the equity on my house and take out a second mortgage on my home, but the bank says that I do not have a credit score. Does anyone have any ideas on how I can get a competitive rate with no score?

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sandiego_mike asked:


I will be attending graduate school this coming fall. While relocating I’ve racked up some credit card debt. I intend to work while in college but for the first month I will be strapped for cash. I know you can only use your federal school loans for tuition, room and board, and other related expenses. Nevertheless, would be a problem if I used part of my loan to pay for this coming credit card bill?

satillarivergal asked:


I have old credit card debt! I haven’t paid in 7 years.-And nobody contacts me anymore.I am not proud of it, and realize I need to do something about it. I got a credit report online from Equifax. It showed no debt. Just one card that was in good standing.What’s up with that? I was hoping to get the names of the card I owe to try to clear up some of the debt.Surely the debt doesn’t go away!Should or Can I just try to rebuild my credit?What do I do?
I am certain that the statue of limitations in my state is 7 years. But certainly, if I try to get a loan, this bad credt will show up? It surely doesn’t just dissappear? Right?

TJ asked:


My wife and I are being harressed and threatened by a collection agency over the phone at my wife’s work to place a lien on our house if we do not make good the debt. Can a lien be placed on a home in Texas for a credit card debt?

haydu_computer asked:


The attorney literally sent the back of a credit card agreement, no signature. The Revision Date is from 1999, however, the account was open in 1996…. I need to ask this clown to provide some evidence that the debt is mine. I need to ask him to prove the amount as well.

roland_wlfraven asked:


As part of our divorce I got stuck with 25,000.00 of my ex-wifes credit card debts. Any ideas to get rid of the debt will be considered.

Yahoo_Asker_G asked:


What is it that creditors know that they don’t want the general public to find out about paying credit card debt?

Truth Hurts asked:


I have a serious shopping addiction and I don’t know how to stop. I buy things just because and if I don’t have the cash, I always charge it. This is an illness for me. My credit card debt is extremely out of control and I can’t seem to stop. I’ve tried to find a shopoholics anonymous, but haven’t found one I liked. Any books out there that might help me or any other suggestions?

Tramadol asked:


I mean i heard after 6 years ur debt is wiped out, does that mean i can take another card or mortage or something? even if the debt is still there? i mean even if i owe the outstanding debt will my credit rating be clean again after 6 years? & does that mean it wont effect my credit rating?

Qwerty asked:


Since there are a lot of people with bad credit nowadays, do you think they will put pressure on credit card companies to help people with debt or bad credit?

G.G. get like me! asked:


I’m 15 years old.I have a credit card debt that I don’t know anything about.I received a letter in the mail to come to my city court.I’m not paying this debt it’s not mine.I talked to my mom about it she didn’t have much to say because she doesn’t deal with credit cards or know anything about them.She’s afraid they’re going to try garnish money from her paycheck for a bill that’s not mine.This is True!I am not joking.

blanquita asked:


Okay, so I have had this dark cloud of credit card debt looming over me for about 10 years. I have it paid down sufficiently, but a big amount is still there. I now have money in my savings that would allow me to totally pay it off. Opinions? Should I take the money in my savings and pay the credit card debt off completely? I have very good job security where I work, so I am not soooo worried about being laid off.

Jody M asked:


Is there a percentage of income that credit card companies look at, like income/debt ratio for homes?

Edgar from Socal asked:


I recently paid off my capitol one card so i only have $1200 in credit card debt!!! thats from $13000 that i had in debt, give me a pat on the back, lol.

myh2yellow asked:


Besides just not using credit cards…

What are other ways to stay away from credit card debt?

Yahoo_Asker_G asked:


What is it that creditors know that they don’t want the general public to find out about paying credit card debt?

Hello! asked:


Im 19 and im in $1,600 in credit card debt . My parents say that thats nothing compared to most peoples debt but I still feel thats alot for being 19 years old.

Kimme asked:


I have $14,000 credit card debt. I know, it is getting bad.

I just came into a $4600 inheritance–should I all that money to pay down my credit card? I’m hoping that it will reduce my finance charges.