I'm in the process of securing a unsecured startup business
I'm in the process of securing a unsecured startup business loan/line of credit. My credit is 750 and have 7 lines of credit with 7 years of history and pretty a clean credit profile. I'm looking to acquire funding in the amount of 350k. Do you believe this is something that might be attainable based on my profile. The lenders I'm looking at primary only base the funding on the credit worthiness of the borrower. I know this question might be difficult to answer in its entirely because there are so many variables involved however just on what I have provided do you be it is attainable?
Sr Financial & Tax Consultant
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.
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!!
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.
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?
JD, MBA, CFP, CRPS
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?
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.
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.