1,709 People Helped
Member Since: March 2015
Haha that's load of BS. Vast majority of debts are being sold to debt buyers, that debt can be brought and sold many times over from one collection agency to another, once it's sold, that debt has nothing to do with original creditors, as original creditor no longer has any authority on that debt, so the original creditors are powerless to do anything to change the status of that debt nor delete the collections. Just think, after you "sold" your car? can you demand the new owner not to wash the car?
JohnnyRain127's reply was:
I don't think anyone able to tell you what the time frame might be. However, you are already step(s) ahead of others, with auto loan of 9.5% it's sold base to build on. Avoid credit card issuers that were included in the BK, most, if not all of them will decline your app, AmEx will not let you back in for probably next 20, even if you pay them back but CapOne may approve you just after 12 months. You can always start out with a secured card, again, just not those were included on BK. what
JohnnyRain127's response was:
I'd say no chance, I would be very happy if I am wrong but unfortunately, if you can't get refi on auto loan (secured loan)? Then there is very little chance of getting a personal loan (unsecured), along with 1400/mo income on 11k personal loan, the chance would be zero. I would suggest try use pre-qual link at CapOne's auto loan, it's soft inquiry, if/when you get pre-approved? you do NOT have to use it, just to see where you at, what amount and what kind of interest you can get with your current credit profile. Best of luck.
Only fee with CapOne comes to mind is the annual fee, they even stop with the annual fee, if you apply it after July/Augest of 2015. I want to listen to your review, however I am not understanding exactly what fees you are referring to. It's little bit difficult for me to grasp they would close your account only because you check your account frequently.
It's difficult to answer without knowing what makes your credit bad but there are two things you can do to have better credit/higher scores, one, make all your payments on-time and two, keep your credit card ultlization below 30%, below 10% if you can help it. Other than those two? Probably time, your credit scores will improve over time when the "bad" fall out of your credit history, assumes you do not add anything negative to your report.
Could be clerical/data keeping error from Credit Bureaus, could be the collection is transitioning from one collection agency to another. The new collection agency may or may not reporting it to CRA intermediately, sometime it might not ever be reported again. Keep your eyes on credit reports tho, collections have habits showing up at most inopportune time.
Credit scores are only factor, your income, amount of debt/balances you have., your credit profiles/recent activities matters. Besides, AmEx do not use credit karma's score for their lending decisions, the score they use (most likely Experian FICO 8) could easily be 50 points lower or 20 points higher than from scores you have here. You can request a CLI upon activation up to 3X (1k to 3k) or you can wait until 91 days from approval.
Do not go by Discover's pre-qual... Put Micky Mouse and SSN of 1234 and see what pops up.
Nothing changes the reportable/removal date for collections. Per FCRA, It's 7 1/2 years from the Date Of First Delinquency, usually it's last time you didn't pay that lead up to such action, it dose NOT go by when the original account was opened/closed certainly not by when collection's open date.or another collection agency received the collection authority on that debt. The reportable/removal dose NOT re-age periord. The CRAs routinely remove them in 7 years. If you aren't sure? Call Credit Bureaus and they will tell you exact month it will be removed.
It might be helpful if you kindly states what "hidden" fee(s) they charged you and why.
If you aren't going to use your high credit scores once a while for your financial benefit then what's the point of having and maintaining an high scores? I personally much rather take a 20 points drop to have 0% for 24 months, simply because my score would rebound as I pay down the balance but I won't get the interest back if I didn't taking the advantage of my high scores.