Rumplestiltskin7

50 Contributions 4 People Helped Top Contributor

Member Since: March 2016

About Me: I work in the credit industry and have some knowledge. All information I give are personal thoughts, personal antidotes, and things I have picked up on working in the industry. Nothing I say is a guess or opinion, or something I read on Google.

Most Helpful Contribution

Finish registration. I can't complete my registration because I don't have Social Security number

Feb 20, 2017
Helpful to 2 out of 3 people

Well, if you're not from this country, and don't have a SSN, you essentially can't register lol.  This tells you your Equifax and TRU score, for the US.. If you have foreign credit, outside of the US, it would not show up on here.

Activity (50 Total Contributions)

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How do I connect a Sofi personal loan?

May 14, 2017
Helpful to 1 out of 1 people

Are you sure it's on your report?  Not all lenders have to report to the Credit Bureaus.  Contact your lender, and ask if they report to 1 or all 3 of the major credit bureaus.  If they don't, ask if they will for you.  If they do, let them know that yours are not showing up.

i want to buy a car with credit score 676, will i get good interest

Feb 20, 2017
Helpful to 1 out of 1 people

Well for starters, the 676 you're seeing on here, is good.  When you go and get your score pulled at an Auto Dealer, you may see a higher score, as they use different score modules/calculators than Credit Karma's.  You may also see lower scores with an Auto Dealer, but you'll likely see higher.

Also, you can apply to 100 dealers in 30 days and it will only "ding" your credit once.  You can go to Hyundai, Ford, and Toyota in a week, and it's only going to impact your score once.  They take into account that you're going to shop around for the best rate, and don't want to penalize you for that.    Keep in mind though, if you apply for a credit card, and a car the next day, this will be two hard inquires, and impact the score twice.  All inquires will show up, but only as a matter of record after the initial first 'hard hit'

Finish registration. I can't complete my registration because I don't have Social Security number

Feb 20, 2017
Helpful to 2 out of 3 people

Well, if you're not from this country, and don't have a SSN, you essentially can't register lol.  This tells you your Equifax and TRU score, for the US.. If you have foreign credit, outside of the US, it would not show up on here.

No open credit...lots of collections

Jun 02, 2017

You're right, buying a chouse is competitive.. For the lenders :) ! Sure.. Lots of people are going for houses, and sure you might think "Well my credit is ****, they won't work to work with me", but the truth is, there are so many mortgage lenders out there, all of them will want to work with you, so you won't take your business elsewhere lol.  Honestly, paying off a collection can increase your score, it can also drop your score.  It really just depends on a case to case basis, and there is not a way to tell unless you use a good calculator, the ones on here, and other sites are junk.  Your best option?  Offer a "Pay for Delete", meaning you pay the debt, and they're willing to delete it.  Call and ask them, if they refuse, ask to speak to a supervisor.  Most collectors will delete it, if you pay it, especially medical debt, those are the most easy to get removed.  At the end of the day, the debt collectors job... is to recover money.  Trust me, you just have to be persistant to get it removed.  WIth that being said, if your Credit Report literally only consists of a repo and collections, well, some "Debt", bad or not, is better than no debt.  Having no accounts at all can sometimes result in "no score" being generated when you go for a mortgage application.  Keeping in mind, all lenders, car lenders, housing lenders, credit card lenders, all use different "modules" and "score calculators", so any score you see anywhere, might not be what actually turns up.

Recap:

1.) Any collections you are willing to pay in full, call and ask for pay for delete.  Talking to a debt collector will not extend your statue of limitation, but paying will, even if it's just a dollar.  So don't start paying, unless you want to pay it in full.

2.) After you have this cleared up, consider getting a "Secured" Credit Card, or asking a family/friend who has a card in good standing, to add you as an authorized user to their card.  This can "simulate" a fake score, meaning their card will appear on your report with good history, etc, but meanwhile, you really aren't liable for it.  Some lenders will allow you to go for mortage loans for this, some will ask you have it removed to see your "True Score".

Anywho, credit or no credit, despite Utilties/rent etc not appearing on your report, some lenders will do "Supplements" and "Supplement" your rent/utilitiez as "Alternative Credit" to show good payment history.  This will get you a loan with a bad interest rate, similar to if you had a bad score anyways, but you can always refinance down the road when your score improves.

If you need any more help, have questions, etc, Feel free to let me know! :)

How do I have a lien removed after it had been resolved?

Jun 02, 2017

If it's been paid/resolved, it'll typically fall off 7 years after the last report/last activity date.

what is the APR of in a personal loan,at this time for 10,000.00

Jun 02, 2017

Expect around 10% if you have a good credit score, and you'll likely need it to be backed by a car or first lien.

Help repairing my credit?

May 14, 2017

"that if I offer pay for deletion, it may indicate that I can pay for the debt and that might muster enough confidence to take me to court."

To answer this question, don't worry.  There are statue of limitations on debt.  These limiations vary state to state.  Talking to a collector, and asking about a pay for deletion, do not extend this statue of limitation.  Making a payment does, even if it's a dollar, so defiantly do not pay anybody, if you don't plan on handling it in full at some point.

Anywho, like said above, yes, Pay for Deletion.  I know you said you talked to some collectors and they were nasty, but keep in mind, most Collection Agenecies have unqualified represenatives taking mass phone calls to make the company money.  They know the basics of collecting, reading you "This communication is from a debt collector" or "This is an attempt to collect a debt, and any information obtained will be used for that purpose".  There are a few things they smack into people's heads before they let them take phone calls, to avoid a lawsuit.  IE: If you tell someone to stop calling you, or to cease and desist, and they continue to call you, it's in violation of  the FDCPA, and each additional phone call, regardless if they get a voicemail, is a $1,000 fine.   Any preditorial lawyer would take a case like that, it's easy money.  10 calls, 10 grand.  You need to make sure you identify as the account holder though.  So my advice, if you are getting phone calls from any of these agencies, tell them you want to do a Pay for Delete.  If they refuse, keep insisting, ask them why, rile them up, get them mad lol, they're people too.  Then tell them "If you're not going to delete this when I pay it, stop calling me" or "cease and desist", if they call you again, just ignore the calls, wait a few weeks, contact a lawyer, because then they're going to bend over backwards to make sure you don't file a lawsuit lol.

The easier route, just ask for a manager or supervisor.  Any collection agency I contacted, for myself, or for my family/friends were willing to delete for payment, but sometimes you just need to get the right person, because most of them are clueless.

home equity line of credit

May 14, 2017

No, a HELOC (Home Equity Line of Credit), is the same in the sense, that it's an open revolving line of credit, when most things on a report are not, unless they're a credit card.  However, most lenders see a Heloc as a second mortgage, because that heloc is against your house.  Some companies, when refinancing, or doing a HELOC, will pull what's called a "Mortgage Only Report", where they only look at your Mortgage, and scores.  They look at Helocs on a mortgage only report because i's backed by a mortgage, so in a since, it's like having a Mortgage backed credit card, that's the best way I can describe it lol.  At any rate, it's a good thing to have I'd say.

Why did my credit score drop 10 points?

May 14, 2017

What "TryingToUnderstand" said, it's just a dip, nothing major, and nothing to be concerned about.  Honestly, 780 credit score, 795, 805, or 820. You can walk into a bank and get the best interest rate on any loan, with a 805 or 795.  Also oddly enough, sometimes zero balances, and extremely low balances can dip a score.  If you put another 5% on 1-3 cards, you may see a gradual increase.  Maybe, maybe not, but if you're not worried about the $, there's no harm in trying.  Each score and report is different, because everyone has different history and liabilities.  Sometimes you find what works best for maintaing a good score, and it seems like you've been doing a good job at that.

What if I pay all back support $5100 does this change my score?

May 14, 2017

Does the back support show up on your credit report?  Paying it will affect your credit, but there is no way to tell if it will increase it, or decrease it.  If it's one of the only things on your report, paying it may drop your score.  Having zero debt at all, sadly enough, can lower your score lol.  If you have a lot of other credit liabitilies, it may increase your score.  It really just depends person by person, report by report.  I have seen people pay collections and their scores drop, and others pay them, and their scores increase.  At the end of the day, if you do not start paying your back support, the person could get your wages garnished, even if the kids are 18+, and out of school, back support can still be garnished.

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