Credit Repair Questions & Answers

globester711 asked:


I am getting married and I planned to use one of my rewards credit cards to pay for some of the deposits. We have the money to pay the deposits in full, but wanted to take advantage of the points we would be awarded. I heard if you incur a debt of 30% your available credit, this will lower your credit score. Is that true even if you pay it off during the same billing period and do not carry it over to the next month?

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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.

Jane asked:


The “debt trap” occurs when..
a) american banks cannot recover loans to peripheral countries.
b) peripheral and semi-peripheral countries cannot afford to borrow money.
c) peripheral and semi-peripheral countries have to borrow money merely to pay interest on what they already owe.
d) american banks refuse to lend peripheral countries.

steelerspride24 asked:


I just read somewhere where you can make money off your good debt. I just wanted examples of this.

Stefanie P asked:


If I look at my credit report and it says this is on record til 8/2009 and I don’t pay it, what happens to it? Can the collection agency still hound me for the money or is it gone and my credit score go up?

redhairedmama75 asked:


I noticed that all 3 of my credit reports list different current employers. Now these are employers I have actually worked for but quite some time ago (in one case 7 years ago)

I make ALOT more money now with my current employer (who I’ve been with for 3 years now) that I ever did with any of the ones listed.

Would getting this information updated affect my score at all?
How would I go about getting it updated?

Tail Stinger asked:


Despite the advertising that says you get a FREE credit report, they still want money. Does anyone know how a person can get their free credit report & not have to pay something? Don’t these companies know about false advertising? Thanks in advance y’all!

devp444 asked:


Need help paying for school and other expenses, housing, books, etc. have not so good credit and getting a co-signer could be an issue.
Actually as of right now school expenses as far as tutition, books is taken care of but housing and transportation is the problem. Are there loans or anything I can get were I can use that money for these expenses?