Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
mike159

0 Contributions
0 People Helped
Need advice for my credit
Hello, so I'm 21 years old and my credit is 533. And that's horrible.. I know.. And my wife and I decided to get rid of our car. And we owed $12,000 on it. We were paying 18% interest rate on it. And we have a lot f other debit, like school, hospital bill, one credit card each. I would like to know if and how much the credit will increase if we forfeit the car? Will it decrease the credit? Or increase it?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
3051 Contributions
2791 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

Your credit will DECREASE  if you give back the car.  Can you trade it in for something much cheaper?  Visit www.credit.about.com and read the tab "Pay Off Debt"; tons of great info and  you don't even have to sign up or anything.  Best of luck!

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.