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Recent Credit Report questions

I am some questions regarding bringing my credit up to

I am some questions regarding bringing my credit up to date.I have some things in collection while i wasn't in the states for last 5 years. Wondering what is the best way to pay these creditors and bring my credit score up.

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bkb1956

Enrolled Agent, Paralegal

6,448 satisfied customers
I have a large amount of credit card debt that I racked up

I have a large amount of credit card debt that I racked up building and starting a new business and I have been trying to service it monthly since 2005. During this time the interest rates just keep climbing and now two of the cards have rates over 25%. Last year I made payments of over $6,000 per month and I'm not getting anywhere. I feel that I'm just throwing my money away and now I'm having a hard time paying my other bills. I need help but don't want to wreck my credit score (still over 650) or my relationship with my bank (who hate my cc debt but won't help me with it either).I started researching about credit card debt management and found a company GreenPath (supposedly in my area) and called them. I got a counselor, not from my area, but felt very good about the conselor that I was assigned to and felt satisfied about the time and attention to detail that he took about my case in two appointments. He now has a plan written up for me that will reduce my rates and I just make one payment to GreenPath for $2500 per month, of which $75 goes to them for administering and setting up the deal. With this plan I should be debt free from these cards in less than 5 years ($130K in current credit card debt). Plus they tell me that if I stick with the plan my credit score will probably increase!! Sounds pretty simple and why didn't I do this 5 years ago?? Now I didn't spend a lot of time searching for companies or plans (more prayer time than search time) and I need to do something NOW, so I need you to give me sound advice on this situation.My question is: What are my options; is this a good plan for me, what are the disadvantages and is GreenPath a reputable company or am I getting sold a bill of goods, plus are there other companies out there that will do this better or have a better plan?Thanks in advance!!

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PDtax

Owner

Master's Degree

7,908 satisfied customers
I am interested in getting a HELOC loan on my primary home.

I am interested in getting a HELOC loan on my primary home. We have a BK on our credit that won't fall off until 2019.We have great credit and scores are in the mid 700's and we have a good amount of equity in our home.Is there any bank out there that would give us a HELOC? We haven't tried any yet we don't want our credit ran all over and it lowers our fico scores. Please advise further.

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bkb1956

Enrolled Agent, Paralegal

6,448 satisfied customers
What are good safe sites to get all three credit reports

What are good safe sites to get all three credit reports right away online without getting tricked into a monthly fee or ripped off? I need to print all three to work on fixing my credit score.

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Megan C

Master's Degree

30,026 satisfied customers
Is my credit score with the 3 bureaus directly affected by

Is my credit score with the 3 bureaus directly affected by signing contracts with utilities companies? Also, more specifically, is my score affected by signing a contract with a phone company like ATT? I see a credit inquiry on my credit report after they pulled up my credit report. The sales rep. at the store mentioned that paying the high deposit (because of poor credit) of almost $1,000 to secure the service contract and paying on time every month would help my score. Is this true?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

21,546 satisfied customers
When applying for a mortgage, if I have an unpaid judgment

When applying for a mortgage, if I have an unpaid judgment that is not listed on my credit report, will the lender still see this information through another type of search? What if the property/loan is in a different state than the judgment?

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bkb1956

Enrolled Agent, Paralegal

6,448 satisfied customers
I live in Savannah GA and the state said I owe them back

I live in Savannah GA and the state said I owe them back taxes for a few years(08 and 09) because I didn't file. But I did file and I have the H&R Block paper work to prove it. What should my first step be to solve this. I have called the GA tax revenue office and they are less than helpful.

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Mark Taylor

Certified Public Accountant

Masters

3,376 satisfied customers
I'm not certain if I need to seek info from a lawyer,

I'm not certain if I need to seek info from a lawyer, finance, or a credit specialist. I am trying to raise my credit score. However, my income to debt ratio is sky high! This is due to very old student loans and past due revolving and credit card accounts that I'm paying off one at a time. . Since I work in social services, I'm under a re-payment plan of $463.00 a month. The remainder of the loans will be forgiven in 10 years, if all payments are made on time. However, my credit report shows that I owe $360,000 in loans. My salary annually is about $71,000 a year. Would it be advisable to include a 100 word statement explaining these loans? This is hurting my ability to get decent credit.

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PDtax

Owner

Master's Degree

7,908 satisfied customers
My friend owned a condo that he took out and unsecured loan

My friend owned a condo that he took out and unsecured loan ($17K) for the deposit on. He paid on it for 3 years (basically interest), but then ran into financial problems. His condo forclosed, sold for the amount owed, but he still owes on the unsecured loan. He then became unemployed, and that debt is still out there. The Bank it was out of said he could write a letter of hardship. He put it on the back burner, became employed again, and now pays rent + other things. He reapproached the bank and they offered for him to write the hardship letter, include his taxes from last year, and 3 recent months of bank statements.He is wanting to address this, but is also engaged to be married (she wasn't a cosigner, wasn't with him when he bought it), and paying for the wedding himself (large family, catholic).I know he can afford to pay about $75 a month until August of 2017, then increase it. Are there any tips you can offer for the letter, or is there a better option than the hardship letter?Also, The fiance may be wanting to look at purchasing a home, how will this affect her/both of them after marriage?

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Emilee Weaver

Controller

Masters of Professional Accounting

104 satisfied customers
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