frend asked:


if i tell my lenders that they can have the house.

But i’ve never been late on any payments for this mortgage.

Will this show up on my credit report for the next 7 – 10 years?

Can i purchase another house in 2- 3 years when market goes back up.

Lawrence

Robert S asked:


I am wondering if its worth to apply for a car loan with my credit score of 610.
I need financing in amount of 16,000 USD
I have 3 credit cards with 90 percent of balances on them
I also have personal loan of 5000 USD
I make 56K a year
Within last 3 years I am always on time with my bills and have no issues
I had some delinquencies 4 yrs ago and they r still on my credit report. They r all paid in full though and are 4 yrs old.

Also if you think I might qualify for 16K car load, please feel free to suggest the lender.

Thank you
my total debt now is 8000 USD
my yearly income is 56 000 USD

Gilbert

Mizz G asked:


In 2004-2005 I lived in the Netherlands as a foreigner and got into a personal crisis that I left a few hundred euros’ debt with my phone company, and possibly a few smaller debts in a few other companies. Not only did I become peniless back then, I had a terrible nervous breakdown that I didn’t even dare to open the bills that came in the mail and was too ashamed to show other people. I was in my late teens, had no relatives or family friends to confide in, and my life was simply a mess.

I moved back to my home country (outside Europe) and never settled the bills, because at that time I had simply ran out of resources as well as courage. However, I have never forgotten, and still want to pay back what I owe. Now I am resuming my studies and am living on allowance, so finances are very tight. I have not worked in the past 3 years because I’m occupied with psychological therapy. I am planning to get a part-time job later this year, and aim to be working full-time in a well-paying career within about 2 years.

By that time, I am planning to get married, and we have discussed ideas about returning to Europe to get our masters’ degree. Of course, I would like my bills to be settled by then… and I certainly would NOT want my boyfriend or parents involved in this.

What happens then to the debt? I only know that if a bill isn’t paid, Dutch companies usually forward the debt to a debt collection company. I remember Holland as being such a rigidly strict country. I have heard that unsettled bills will accumulate interest, and that debt collection companies would go as far as hunting down relatives of the debtor to pay for it. I even heard that if you missed paying for a parking ticket back in 1992 and left to go overseas, the police would hunt you down at the immigration once you land anywhere in the Schengen region. Does it get that bad? Because if it does, I certainly don’t want to experience it! Like, I would not like to find my 500 euro bill in 2005 has accumulated a 400% compounded interest and then get escorted by the police in the airport of Athens Greece when I land there in 2012!

However, I have also read that bad debts that are too far behind are eventually written off as a “charge-off”. Doesn’t mean that it doesn’t have to be repaid, but it simply means that the company decides to no longer pursue the debtor as they may never settle it anyway. The information I read was in an American context, but how does it work in the Netherlands? Because if there were such a policy, I would like to take advantage of it to legally protect myself, and settle the bills in a way that won’t jeopardise my reputation or my sanity.

What steps should I make in order to repay these debts?

What are some precautions I should take?

Where are some safe places I should be able to get help from and still have my privacy protected?

How do I calculate the numbers?

What’s a credit report, and how do I use it? I have heard about sites that give free credit report in the USA, but is there any such services for the Netherlands?

Thank you!

Bill

Robert S asked:


I am wondering if its worth to apply for a car loan with my credit score of 610.
I need financing in amount of 16,000 USD
I have 3 credit cards with 90 percent of balances on them
I also have personal loan of 5000 USD
I make 56K a year
Within last 3 years I am always on time with my bills and have no issues
I had some delinquencies 4 yrs ago and they r still on my credit report. They r all paid in full though and are 4 yrs old.

Also if you think I might qualify for 16K car load, please feel free to suggest the lender.

Thank you

Robert

nabeel l asked:


I never had a credit card but wanted one . I applied at small department stores to get my first credit card but i was denied for insufficient credit . Being offered a free credit report i wanted to see what was on it. Everything was clear but it said i had a judgement of 8,000 dollars plantiff was the probation office I was entitled to pay restitution and signed a plan to pay 250 everythin month for 3 years but i paid everything off in just 6 months . How can they put a judgement on me when id id make my payment on time…i signed a form indicating i will pay every month..aren’t judgements given to those who don’t pay their debt or restitution. Do i have the right to dispute this ..Is this information on my credit inaccurate . I’m really concern now > I wanted to get my first credit card and start building credit to have a sucessfull future . I went from No credit To judgements on my credit .without ever having a credit card on my hand. please HELP.

Ruben

Adam W asked:


3 years ago I broke a bone and, like the smart, responsible guy I am, I wracked up a lot of hospital bills which I neglected to pay. I thought I had paid them all off finally, until the other day I was going through some old papers, and I found a bill for $558. I didn’t remember paying it so I got online and checked my free annual credit report, to find that it was listed on the report from Experian.com but not on Equifax.com. That makes 3 negative items on my credit report, 1 of which is paid off, and the other is being disputed.. (Never name your child after yourself, it’s just bad news)

Basically what I’m getting at is I’m older now and trying to rebuild my credit and this is just another count against me. I’m getting it taken care of right away but it’s still going to hurt my nonexistent credit. Is it possible for them to take the item off of my report if I ask nicely or something? I’ve had a very difficult time building credit because I have no credit to get any.

Advice?

Agnes

Alvydas asked:


In 2005, I was shopping in Macy’s (in Los Angeles, CA, USA) for a pair of shoes, one day before flying back to my native country of Lithuania. When I was paying for the shoes, the cashier suggested that I fill out a form and get $20 off the price. I did that, and flew back to Lithuania for 1 year. Speaking very little English, little did I know that I was signing up for the Macy’s credit card, and the cashier did not explain it to me (if she did, I sure did not understand it). I came back 1 year later, and to my horror found a bunch of bills from Macy’s and then bills from a collection agency. When I was explained by friend who speaks better English, what it was, I immediately paid the $20 plus a fee of $165, and the collection agency said that they will take it off my credit record. It has been 3 years since, I still can’t get a single credit card issued from any bank, and they say that I have a bad record.

I looked at my free credit reports from Experian and Equifax and they say “Charge Off as of Jun 2006”, “You have no negative accounts on file”, and “You have no Collections on file” – why then no one wants to open a credit card for me? I never had a chance to even open a single credit card in the US. What should I do now to get good credit score?

Donna