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First of all Discover Card and TIM HORTONS working together!? Hoping for any answer or 2. Second question of mine... I have 2 small debts from 2006 with cox communications a total of like 250- I can pay this but the collection agency said I could pay 60% and they will be satisfied.. |
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I would like to know the answer too. Anyone here know what is the answer to that question. I'll do some investigation and get back to you if I find an good answer. You should email the people at Discover Card as they probably can help you..
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Paying (with Discover card) a collection does not raise your score - you said it's from 2006?..
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How soon will it be falling off your report?.
If you pay it and the collector updates to "paid collection", that won't help your credit any. A paid collection is just as bad as an unpaid one in most instances. The only way I'd pay it at this point would be if they agree to completely delete the negative tradeline. But if it's falling off shortly anyway it may not be worth the hassle of doing anything with at all... |
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Yes it is from 06 the r cable tv and a land line phone.
So if paying (with Discover card) off old debt does not improve score what is the point to pay it off?. So should I take the 250 I owe them and open up a 2nd secured Discover card for 250?.. |
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Thanks,.
I already rep[lied but my msg didnt show so..... My 2nd reply...... If it does not help my score what is the point.... Should I just take the money I was going to use to pay older debt to open up a 2nd secured credit card?. I opened my first 3months ago.. Also how do I find out when this debt will fall off my report?.. |
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Is there a "scheduled to be reported until" date on your credit report? Generally it's 7 years from the date the account first went delinquent...
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No there isnt,.
I also have check systems screwing things up on old wells fargo debt. this is from 05. I have 2 bank accounts now but when I tried to open an account at a credit union I couldnt- should I let this fall off as well or will check systems screw things up for a while?.. |
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And as far as opening up to trade lines..
I opened a secured card through applied bank 3 months back- I read some where that you shouldn't apply for a lot of cards at once so is it time to open a 2nd or should I wait a while longer?. I also would like to get a loan- I do not need money for anything but I would like to make payments on something.... Since I cant open an account @ a credit union I cant get a loan and use a cd as security- I dont think banks do this type of thing... So how do I go about getting a loan for maybe 1k tops... |
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Installment loans don't do much for your credit. In the rebuilding phase, I wouldn't spend the money on interest just to have one..
Get an installment loan when the day comes that you need one for an actual purchase of some sort.. You can make better use of that "payment money" right now by using it to settle out these delinquent accounts in exchange for removal of the negative reporting, assuming they'll otherwise be on your reports for several years.. You may also want to find out what's being reported on CHEX, and clear that up if appropriate. CHEX will raise havoc with opening any sort of new account... |
