Credit Tips Network

A poor credit rating is generally the result of having too much debt compared to income, too high a balance as compared to the total limit, late payments, and missed payments. If that particular representative can not answer your question, see who is there who can answer your question definitively.Understand the time limits.

The collection was well within the statute of limitation for collecting through the courts, and the creditor decided to sue. I always instruct my clients and students to check their states statue of limitations.7.

Suggest a payment which is a portion of the actual debt – if the debt is more than a few years old, you may be able to get a pay for delete by paying only 30-40% of the original amount.

Now let’s look at the mortgage industry and how a low score can affect your buying power when buying or refinancing a home. Bank will require the property listed with and agency as a condition of the short sale.You have the option of giving the house back to the lender.

In is more likely that you would not be able to get these items deleted from your credit report with a simple dispute due to the fact that they are more recent. To begin with, each debt that you have has what is known as the statute of limitation.

After this harsh lesson, I vowed to educate myself about credit and credit repair and educate others about the importance of credit security.

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