How To Get Access To Affordable Auto Credit Loans

April 9th, 2015 by admin

If you are not a bad credit scorer then you will have to pay less interest rate on the approved auto credit loans. Whenever people don’t have sufficient credit score but in need of cash for buying a car, they need not feel helpless as auto loans for bad credit are there to apply for. However, lenders charge high interest rate on fast approving the bad credit auto loans to prospective buyers having a bad credit rating. Such kind of loans is slightly different from auto credit loans as they are meant for people with bad credit only. With them people can own their dream car in spite of having a bad credit history. But not many buyers have any idea about bad credit loans that can help them avoid a financial crisis and enjoy life just like normal people.

The auto credit loans for low interest rates are possible only if security is being deposited by the borrower in turn of which he or she gets money. While applying for bad credit loans, buyers have the option to choose from either the unsecured or secured loan type. In case of secured bad credit auto loans the borrower will have to deposit security or mortgage something with the lender or bank until the loan is paid off. According to the terms and conditions of these special kinds of auto credit loans, whenever the borrower defaults the loan payment, he or she will lose ownership on the security and the lender may sell it off any time to recover the unpaid loan. Some of the common types of assets that are used in securing secured auto loans are land, cars, home and even insurance policies.

However, unsecured auto loans for bad credit don’t require any security deposit and can be obtained anytime. It is the amount of the loan that decides the terms and conditions for repayment. They can be easily availed when a guarantor or cosigner signs in the loan application form along with the borrower. And the guarantor should be an established person with a good credit rating as the lender will sanction the loan solely on the income, background and credit score of this person. The bad credit loans in every form can help improve your credit score and put your life back on track.

As compared to bad credit loans, buyers should be focused on getting affordable auto credit loans. It is because the difference in interest rate can make a big difference in your monthly savings. There are many financial organizations, banks and private lending institutions available online to offer affordable auto credit loans. You can approach them and go through their lending terms and conditions to find out the one most suitable for you. If you want to go by buyers experience then your choice should be private lenders and not the traditional financers as their criteria are too difficult to meet.

To make sure you get affordable auto credit loans, you need to remember certain things. They are as follows:

1. You should be well aware of the lending terms and conditions as they are crucial.

2. Go on gathering loan quotes from as much number of lenders as possible and compare them properly around the interest rate.

3. Calculate the amount which you actually need for purchasing a car and give some down payment to reduce the interest rate.

4. Try to build up your credit score and improve the credit history.

When you start to follow the above given tips, you will find that affordable auto credit loans are at your fingertips.

James Fedric is an automotive loan consultant doing research on making auto credit loans accessible and available to buyers. His ideas on auto loans for bad credit are going to spread awareness among the bad credit loan buyers.

Get access to denied loans by maintaining and raising your credit score

February 28th, 2015 by admin

Is it true that you are tired of getting denied credits and other financing and are attempting to make sense of how to raise your credit score fast? Well it is not as hard as you think. Your quick objective in expanding your FICO assessment is to diminish the measure of cash you owe on any sort of credit you have profited of. Budgetary specialists have numerous proposals on the most proficient method to enhance your FICO rating quick. Some of these are very straightforward like getting a credit report and paying all your bills on time. Some individuals mistakenly imagine that end unused charge cards is great. Reality however is that this will hurt your score. The individuals who know how to enhance your FICO assessment quick won’t suggest it as it will really diminish your accessible breaking point.

Instructions to settle Your Credit Yourself

The most essential thing you have to do immediately is to acquire a complete history of your credit report to comprehend what has been going ahead before. Look carefully to find every thing that could result in a warning or bring down your FICO scores on your credit report.

While looking over your credit data you need to first find any inconsistency. Missteps on your data are records that contain data that is not right. It may be something in regards to behind installment being recorded and you know you were never late for this installment. An alternate territory you might likewise need to take a gander at to settle your FICO assessment is any over breaking point things that are accounted for erroneously and the credit departments expect that you are predictable in abundance of your credit limit.

Also, check for demonizing data, for example, postponed installments, charged of records, sets, decisions and financial disappointment. These will drag your financial assessment down speedy.

Moreover, you have to keep up those old Visas on the grounds that they add to your long financial record. Simply utilize them once as a part of a while for verifying you pay them on time. This strategy keeps the cards from slipping by. This will guarantee you keep your cards and by continually setting aside a few minutes, you fabricate your budgetary notoriety too. One additionally thing to remember about cards – however much as could reasonably be expected, you have to keep your equalization beneath 30% of your breaking point. You can do this by constraining your buys or once more, by verifying you pay on time.

One thing that a great many people don’t understand is that when they are looking for an advance, a credit request is carried out every time they apply one. On the off chance that you do this few times inside a brief time this will raise a banner with banks and monetary foundations. You can maintain a strategic distance from this by submitting your application to lenders inside a 2-week period. By amazing your applications, you are verifying that your score is not unfavorably influenced. For more information you can visit us:, our goal is to provide information to consumers on the best way to improve their credit and also to provide some information on available credit cards.

Who Has Access to Your Credit Report

December 21st, 2014 by admin

The FCRA or Fair Credit Reporting Act specifies who can request a copy of your credit report and for what reasons they may request it. The FCRA requires some of these groups, such as employers, have your written consent before requesting your credit report. Most other groups are allowed to access your credit report without your permission. Note that your consent is not required for ‘soft’ credit inquires in connection with pre-approved credit offers. In these cases the lenders don’t actually see your credit report, but rather, some of your information is sold to them by the credit reporting companies for marketing purposes.

Businesses are not required to obtain your permission to access your credit report. This can be a problem when they do what is known as a ‘hard inquiry’. Hard inquires can lower your credit score since they are interpreted as an attempt by you to obtain more credit. Many consumer complaints have resulted because of these credit checks. For example, car rental companies will do a ‘hard inquiry’ of your credit if you attempt to rent a car with a bank debit card. That can lower your overall credit score. While the impact of hard inquiries is generally short lived, you do not want multiple hard inquires on you credit report in a short period of time. So, you can be sure that whenever you want to get a loan of any kind, your credit report is available to anyone that you want to do business with.

Employers normally get a different version of your credit report than do institutions that are considering granting credit. Employers are primarily interested in how you manage your payment responsibilites and don’t have a need to see many of the other items on a credit report. When lending institutions access your report for the purpose of a credit check, this is always recorded. Your credit report should have the names of those who requested your report over the past two years.

Some institutions also check your credit report once you have already obtained a loan, for example, to make sure you still meet their credit standards.

Since credit reporting mistakes do happen, and incorrect information can find its way on to credit reports, it’s a good idea to check your report annually. The bottom line is that your credit report is something that’s publicly available to many institutions that do business with you in your everyday life. Make sure that you keep a good credit score, if possible and you’ll be able to get a loan or a job much easier.

BankSnatch is the leading financial media outlet, providing a wealth of information about credit cards, highest cd rates, insurance quotes, loans and personal finance.

Bad Credit Unsecured Loans – Access Adequate Funds in the Mark of Bad Credit

October 23rd, 2014 by admin

Being a bad credit holder means it can afflict you in availing the loan. But taking the financial support would be the only source of cash in fiscal crisis. If you are the one, then you can easily make an application for bad credit unsecured loans that help you to effectively deal with your miscellaneous financial catastrophes on time. You blemished with bad credit tags including defaults, arrears, foreclosure, CCJs, IVA, insolvency, late payments and even missed payments are welcome to apply for these loans without facing any difficulty.

The foremost advantage of these loan schemes is that they are bestowed to individuals affected with poor financial situations. These credits are helped to you availing funds without placing any sort of collateral. The amount under bad credit unsecured loans can be availed by both homeowners and non-homeowners. Repaying fund on time you can ensure improvement in your financial condition. These finances are available online 24 hours a day and 7 days a week. And so, one can easily full personal or other needs on time.

The borrower has to meet some pre-requisites for acquired bad credit unsecured loans. In respected of pre-conditions, the borrower must be over the age of 18, be permanent citizen of UK, be regular employee in any firm and he must have a current active bank account. On qualifying these formalities, the applicant can derive an amount extending from £1,000 to £25,000. This amount is granted for the repayment period of 1 to 10 years. For this reason, you can make use of this fund in your personal purposes or other needs.

-         Home renovation,

-         Wedding,

-         Paying for higher educational costs,

-         Paying off debts,

-         Going on exotic holiday trip,

-         Buying used or new vehicle,

-                     Paying off medical bills or hospital bills etc.

To make your application through the online medium, you have to easily apply on the lenders website. In application form you have to give your genuine details and submit it. On confirming your details, the cash is transferred into your active bank account within the least possible time. 

Being a bad credit holder means it can afflict you in availing the loan. But taking the financial support would be the only source of cash in fiscal crisis. If you are the one, then you can easily make an application for bad credit unsecured loans that help you to effectively deal with your miscellaneous financial catastrophes on time.

Being a bad credit holder means it can afflict you in availing the loan. But taking the financial support would be the only source of cash in fiscal crisis. If you are the one, then you can easily make an application for bad credit unsecured loans that help you to effectively deal with your miscellaneous financial catastrophes on time. You blemished with bad credit tags including defaults, arrears, foreclosure, CCJs, IVA, insolvency, late payments and even missed payments are welcome to apply for these loans without facing any difficulty.

The foremost advantage of these loan schemes is that they are bestowed to individuals affected with poor financial situations. These credits are helped to you availing funds without placing any sort of collateral. The amount under bad credit unsecured loans can be availed by both homeowners and non-homeowners. Repaying fund on time you can ensure improvement in your financial condition. These finances are available online 24 hours a day and 7 days a week. And so, one can easily full personal or other needs on time.

Douglas Haggard, an expert in finances, has written several articles and blogs related to loans as well as finances. He has been working on the topics bad credit unsecured loans %26 loans for bad credit people etc.

How to Access Your Credit Report Online For FREE and Protect Yourself From Identity Thieves

August 23rd, 2014 by admin

These days you’d have to be an ostrich with your head in the sand to not hear at least 30 ads a month offering you a ‘free’ credit report. The problem with these services being advertised, is they all ask for a credit card in order to get your report. Sure, your credit report is free, as long as you agree to sign up for a 30 day trial to their Credit Monitoring Service (or whatever they choose to call it). The sad reality is these schemes rely on the fact you will likely forget to cancel the ‘free trial’ to their service which you started only to get your ‘free’ report in the first place. Then, you end up getting billed and canceling anyway. What we’re going to show you is something we’ve been doing for years and only shared with friends until now… Please note: The only way this will quit working is if the Credit Bureaus change the rules (which we believe they will so you better act on this today). Here are three simple steps on how this works:

STEP ONE: The best way to protect yourself from Identity Theft is to put a ‘Fraud Alert’ on your credit reports. This fraud alert makes it impossible for anyone to get any ‘hard inquiry’ credit in your name WITHOUT the creditor having to physically CALL YOU at the phone number you list on your credit report. No phone call from the creditor = no credit granted. The nice little ‘side effect’ of establishing a Fraud Alert on your credit report is that you automatically get a free copy of your credit report when you do it! But wait… it gets even better! You can go to Experian’s website and initiate the Fraud Alert online and you’ll get access to your report, INSTANTLY!

STEP TWO: Now that you’ve completed step one and gained instant online access to your credit report you’re now ready for step two. Since your Fraud Alert only lasts 90 days, you need to set up a reminder to ‘re-initiate’ the Fraud Alert every 90 days. We suggest you set up this reminder on your cell phone so you don’t forget (by the way, if you’re paying over $100 a year for identity theft protection, you may opt to cancel it and save your money… it’s a false sense of security).

STEP THREE: This last step, in our opinion, gives you better identity theft protection than any paid service. Now, some identity thieves are incredibly smart, rather than apply for credit with your information they will do something we call ‘Credit Hijacking’ and it works like this… An identity thief will take your information and posing as you call one (or all) of your credit cards and change your billing address. This way they can order products online and have them shipped to the ‘new fraudulent address’ and bypass online merchants who use a security feature known as Address Verification System (or A.V.S. for short). When merchants use AVS a charge on your credit card can only be processed if the items purchased are shipped to your credit card billing address. In order to protect yourself from thieves that do this you need to create a separate password with each of your credit card accounts. This password creates an extra tier of security beyond just the ‘last four digits of your SSN’ or ‘your mother’s maiden name’ as this information is way too public and easy for criminals to access.

Now, let’s go over one last critical tip for protecting yourself against 21st century Identity Thieves…

Why You Should NEVER Use Your Home Address On Your Automobile Registration! Some criminals are getting really creative; like the ones that go to a parking garage at a hospital and break into a Doctors car. Not to steal his car. Not to steal his stereo. No…They’re much smarter than that… Instead, they stole his auto registration. Why? Because it had his home address on it. Combine this with his garage door opener (off his sun visor) and the criminals were then off to his house. Once there they pulled their van into his garage, only to find the door into his house… UNLOCKED! They then proceeded to load their van full of his life possessions; from big screen TV’s and entertainment systems to artwork and jewelry. In the end, the criminals made off with almost $100,000 worth of valuables.

Jay Peters is the founder of Credit Repair Publishing and has been
publishing credit repair information since 1994. For their free
eBook titled ’28 Credit Secrets the Banks, Collections Agencies and
Government Don’t Want You to Know!’ Visit their website at:

Who can access a credit report

January 28th, 2014 by admin

Have you been wondering about who gets to look at your credit reports? Well, there are a number of people, companies and other organizations, aside from banks and creditors who are allowed to check your credit reports.

Listed below are the people and organizations who can request your credit reports.

• Creditors- Creditors, as well as prospective creditors, including banks and lenders are among the people and organizations who can ask to review your credit reports when you request a loan or apply for new credit. In doing so they are attempting to assess your creditworthiness and with credit reports they decide on whether or not to provide you a loan or credit as well as the interest rate and fees they should apply to your account.

• Mortgage Lenders- Mortgages involve a great deal of money and mortgage lenders need to see your credit reports so they can assess your risk and determine your probability of paying your debts or becoming delinquent on your financial obligations.

• Landlords- If you are trying to lease a home or an apartment, the landlord will likely be checking your credit reports. He or she would probably, primarily check your payment history and if you have a history not paying your rent or paying it late.

• Utility Companies- If you are moving into a new house or apartment, a utility company may request your credit report because they want to check your payment history, particularly when it comes to paying your utility bills. You should not experience any problems obtaining their services if you have good credit, but if you have poor credit, a security deposit may be required to engage their services. If you are denied service, you have the right to know the reason for the denial of service. The company must inform you with the specific reasons for their decision.

• Lenders of Student Loans- Granting you a federal loan is not based on your creditworthiness, however, if your parents are applying for PLUS loans, their credit reports may be checked. One of the reasons why lenders check credit reports is because students and parents who have defaulted on other types of federal loans cannot be granted new federal loans.

• Insurance Companies- When you apply for an insurance policy, the company may ask for your credit report and your medical history. Although negative information can affect your insurance rate, what they mainly look at is your history of filing claims and your medical information. The reason they may ask to review your medical information is so they can estimate the risk of your health care costs. Before they get to see your medical information though, they need to ask for your consent first.

• Auto Insurance Companies- They check your credit reports so they can determine how much they are going to charge you. They take into account your age, your credit history and your history of filing claims. Basically, the better your credit is, the better your rate.

• Employers and Prospective Employers- Many companies are now conducting credit checks as part of their hiring process. The main reason why prospective employers conduct credit checks is to assess the integrity, character and responsibility of their candidates. Another reason why employers use your credit information is to help them decide between employees who are up for a promotion.

• Government Agencies- There are several reasons why government agencies check your credit reports. If you are applying for public assistance, they will check your credit report for assets and income that you may not have disclosed. They will also check it for to assess your integrity, honesty and responsibility especially if you are applying for a job in the government where you will have access to confidential and sensitive information.

• Collection Agencies- When you have become delinquent on some of your accounts and they have been forwarded to collection agencies, the collectors will check your credit reports so they can verify your financial situation and take the appropriate steps regarding how they can collect the balance from you.

Listed above are the people and the organizations who can request your credit reports. Aside from those, other people and organizations cannot have access to your reports unless you provide a copy of your credit reports to them. There may be instances when an unauthorized person gains access to your credit report. You can discover if your privacy has been violated by checking your credit reports and looking for unauthorized inquiries or unfamiliar names. If errors are there, you can write a letter to the credit bureaus reporting the error and file a claim against those who illegally viewed your reports.

Joy Mali is an active finance blogger who is fond of sharing interesting finance management tips to encourage people to manage their personal finances. More specifically, she advocates that people should check credit reports and scores regularly.

Which credit reporting agency is best for the credit report?

I know that i can get my free credit report once a year, but there are like 3 reporting agencies to chose from. Which of those agencies is most accurate, and gives out the most info? I want one, to show all the negatives thing i might have in order for me to fix them, if there are any.


The problem is that not all creditors report to all three bureaus and not all lenders use the same report. Some information will show up on some reports and not others. Get all three FICO scores and credit reports — but make sure you don’t go to the individual credit bureaus to get your scores. They each use something called a credit score, but they use different formulas to achieve a number. What you need is a FICO score — which you can only get from the Fair Isaac Corporation, a company based in California. FICO, put simply, is a persons credit score.

The FICO score scale ranges from 300 to 850, with the majority of people in the United States in the 600 – 850 range. You can only get your FICO score from It will cost $15 per credit bureau or $45 for all three scores.

Credit Cards Instant Approval Access a credit card with no fuss

January 25th, 2014 by admin

Welcome to Credit Cards Instant Approval…!!!

We are a highly specialized personal finance advisory service. We compare and analyze credit card information of different companies that come with instant approval. We collect information about credit cards instant approval, compare and analyze and provide you with the summary result of our analysis. We also suggest you which credit cards with instant approvals should you get. So, you can rely on us to get a credit card that meets your unique credit profile.

The best aspect of credit cards instant approval is that we help you get credit cards despite your having a bad credit history. Therefore, even if you have credit issues due to arrears, defaults, CCJ, IVA or whatever reason, you can rely on us for getting most suited card.

To get instant decision credit cards you should be a UK citizen and your age should be at least 18 years. You should also have a permanent employment, which indicates that you have a permanent source of income and therefore you have the repayment capacity. If you meet these requirements, then credit cards instant approval can work for you to get the most suited credit card that comes with instant approval. We can help you get credit cards instant approval even if you have bad credit rating.

After obtaining credit cards instant approval, your objective should be to use it in such a way that it helps you improve your credit profile. In order to do so, your credit card wisely and responsively. Remember, credit card does not come free. You have to pay for all the purchases. So, use your card only when it is required. Moreover, if you have used it and regularly paid your balance amount before the due date, within few months you will have an improved and good credit profile.

The best aspect of credit cards instant approval is that we help you get credit cards despite your having a bad credit history. credit cards instant approval can work for you to get the most suited credit card that comes with instant approval. Johnson hilton will assist you to get the loans of your order. He will help you with his reliable information and experience. For more information about please visit our service site.

Johnson hilton will assist you to get the loans of your order. He will help you with his reliable information and experience. For more information about credit cards instant approval, instant decision credit cards, no credit credit cards, credit card for bad credit, instant credit cards visit

How and why does a credit card company like Capitol One issue cards to me through 2 or more different issuers?

How can they offer me card from Capitol One and an Amazon Capitol One and a University Capitol One card and they are all different accounts. How is the money made by the issuer and the original credit card company? How does it work?

Those are the infinity groups that Capital one has contract with. For instant, BOA issues LL Bean, NFL or AAA credit cards. The bank manages the card but and the store gets the benefit for bringing in more customers while customers get free shipping and handling. With AAA, customers get gas rebate every time they use the card. Customers who have NFL account can get NFL merchandise or memorabilia and enjoy carrying the card with their favorite’s team logo..

Credit card companies also have to pay a fee to use those infinity groups’ logos. They take more risk for issuing those cards. The reason is that they pay upfront to the merchants before they can collect the money from customers. At the same time, credit card companies earn fees, interest from customers. You can have several different credit cards that may issue by the same bank or credit card company. They both get benefits for issuing the card. Some customers do not know that LL Bean is managed by BOA. They thought LL Bean itself issues the card.

It’s all about marketing. Everyone wins. The card issuers and the infinity groups.

Instant Approval Credit Cards Access the credit card for maintaining your finances

January 19th, 2014 by admin

If you need instant approval credit cards, you are at the right place. We, Credit Cards Instant Decision, are associated with UK’s few of the best credit card providers and thus are able to provide you not only the comprehensive information in easy language but also the great deals. These deals are unique to Credit Cards Instant Decision and so you would not find it anywhere else. If you want to get benefited from these deals, apply now for instant approval credit cards.

Credit Cards Instant Decision is associated with leading card providers of the nation and so have access to all relevant information about the features of the cards. When you apply for a credit card for instant approval, we match your requirement with the features of different cards and help you get a card, most suited to your needs.

Credit Cards Instant Decision can help you get both secured as well as unsecured instant approval credit cards. Moreover, if you have a bad credit profile, we can help you get no credit credit cards. These credit cards will be decided instantly without checking your credit history. Therefore, even if you have bad credit due to defaults or arrears or for whatever reason, we can help you get an instant approval credit card. You can further use it judiciously by using when it is required and paying due amount within the deadline to improve your credit score. Once you start spending responsively and paying before the deadline, not only your credit profile enhances but your credit limit also increases.

You can use these instant approval credit cards for any purpose that you want to e.g. balance transfer, cash withdrawal etc. You simply inform Credit Cards Instant Decision about your specific needs and we will help you get a credit card meeting your needs.

To get instant approval credit cards now, simply fill up the online application form and we will start matching your needs with features of different credit cards and will inform you within no time of the availability of the most suited instant approval credit card.

Credit Cards Instant Decision is associated with leading card providers of the nation. These deals are unique to Credit Cards Instant Decision and so you would not find it anywhere else

Joy sean is a successful writer about finance. Currently he is writing about loans and many other kinds of loans. If you want to know about instant credit card, credit card bad credit, instant approval credit cards, credit card instant decision visit

How can I get a credit card shipped to me fast ASAP?

I have excellent credit and need a new credit card shipped fast . Is there any website that can expedite this process I know I can instantly get approved for any card out there. I need to take care of some personel financial obligations fast. Any suggestions? I can find sites that promise fast delivery of credit cards for those with credit in need of repair , and there are many ways to get instant approval, but I need imediate shipping upon approval, and my credit is good

I got my capital one credit card 2 years ago…and once i got their fast-approval online they sent it to me right away. Their interest rates are not that great….but i got an option to get it in 2-3 days from that day.

I really would wait the extra couple days for a 0% interest rate card if you got good credit.

BUT CAPITAL ONE IS ONE ANSWER. WHATEVER YOU DO…don’t go with Bank of AMerica they won’t give you an approval until 30 days and even then you still have to wait for your card. Personal experience. hahahah

Access your Credit Report Online

October 12th, 2013 by admin

A credit report is a mere number which determines the credibility and authenticity of an individual or company based on their previous monetary transactions. It also keeps a tab of all the delay in payments and bankruptcies. This helps all the money lending organisations filter out the defaulters from genuinely interested men. However, in order to view a detailed report, one has to visit the Federal Trade commission. But this is not feasible at all circumstances. Besides, if there are any discrepancies in the credit report, one needs to approach the particular institution which has given the wrong feedback.

The latter has much more diverse impact and will definitely take the life out of the individual before he can convince the FTC to rectify the error. The process takes around 2 to 3 months and starts off with the initial paper work. One needs to be very persistent in sending the letters to the FTC explaining the error and the reason it was caused. However if you do not possess any hard proof and documents, your request will be not taken into consideration. After the submission of letters, the CRA takes a considerable amount of time to verify the authenticity of the complaint and cross references several instances to ensure its accuracy. Following this, the CRA then prepares a revised edition of the individual’s credit report and sends a copy of it to both the borrower involved and his corresponding lender. However, if the CRA is not satisfied with the argument provided by the petitioner, then the application is rejected immediately. But the person involved can still argue it out at the agency through a center named Credit Info Center.

In order to avoid all this chaos and mayhem, the online credit report has come into existence. You can view it now, later and whenever you want to. It also helps you realise any aberration that has occurred in the report. In such a scenario, one can swiftly take action and correct the errors committed on the report.

Any changes that are made in the original report are immediately reflected on the online version. Hence, in case of any misunderstanding between the lender and the borrower, the online format can help them resolve any problem that may arise due to the inconsistency in the hard copy.

Since the credit report is provided instantly to the concerned individual at the time of need, a nominal amount needs to be paid in order to view the report. This is because a free credit report is sent only once every 12 months which is a very long period of time.

Thus the opportunity to work from one’s own backyard is provided by the online credit report. Time and tide wait for none and hence do not waste your time in going behind a hard copy of the report. Rather, find your scores online and provide them at the required places then and there and see your business flourish.

Good credit scores means you are a favorite of lenders and it indicates that your finances are under control. This is why it is imperative to get your free credit report at least once in a year.

how long do credit card write offs stay on your credit report?

i have a few write offs on my credit report from 05′ and i dont plan to buy a house for another 5 years i dont know if i should pay them off or if i should just let them be because i heard they come off in 7 years. i have other bills that are helping my credit right now but i dont want to put money into they old things i messed up on if they’re going to go away sooner then i need my credit to look good.

Well as usual there are some answers that are out in left field and some do not understand how the system works.

A bad debt can stay on your report for seven years. Because most wait six months to charge off a debt, that winds up being seven years and six months after the first delinquency. The clock starts when the original account goes into collections (internal or a third party) or is charged off (which ever is earlier), according to the FDCPA. Even if the debt is sold and resold to third party collectors, it still has to come off your credit report when the original debt reaches it’s expiration date.

Now if you do pay them off, this will give you a slight bump in your score as they will no longer be listed as “derogatory” entries on your credit report. They will now become “potentialy negative” items and show as paid. Most creditors give that type of debt less attention (everybody has had trouble at some time).

Depending upon the creditor, you could try and get them to accecpt a “pay for deletion” which means they will remove the entry on your credit report once the debt is paid. Some will take it and some will not.

IMPORTANT: If you do contact them and acknowledge that you owe the debt, then you will reset your states statute of limitations to seek legal action because you have reaffirmed the debt. You should first check to see what your states SOL is for debts. Use the following web site:

If the debt is “time barred” or in another words beyond your states SOL, simply let it go, do not pay it as you will open up a can of worms!

If the debt is NOT time barred, then try to work out either a pay for delete or payment in settelment. Both will improve your score a little and that is better then them seeking a judgment against you and garnishing your wages. THAT would remain on your credit report for possably more then 7 years as a judgment is listed under the time frame of either your state or the FCRA which ever is longer. Most states it is 10 years and renewable for a total of 20 years.

Hope this helps answer your question.
NOTE: This communication is not intended as and should not be interpreted as legal advice but is intended solely as a general discussion of legal principles or definitions of the FDCPA and FCRA. Always consult an attorney if needed.