brklyn

Sounds like the smart move would be to sit on this until after the mortgage is secured. Thanks for your advice.

I currently have two cards: 1. Secured Capital One card = $1,750 limit 2. un-secured CreditOne card = $950 I've checked and the Cap One card can not be converted into an unsecured card. I'd have to reapply for an unsecured card with them. Both cards are about the same age. I'm trying to buy a house in 6-9 months. I don't want to run around having a ton of pulls on my credit report.

I've just been given a an increase in my credit line from my credit card company - Credit One. after I got approved for the credit line increase i received an email from the same company pre-approving me for a second account with them. It's not huge line of credit but I was wondering if: a. I should take another hit with someone pulling my credit to see if they can approve me for this second line of credit. b. with such a small amount being offered even if it's for an unsecured line of credit should I bother? Not really sure why they just didn't give me this amount on my increase instead of offering me another card.

I am currently in default in my student loans and have been working on knocking down my debt. I wanted to tackle this one last since it is my biggest 30k. The overall debt has been passed around from collection agency to collection agency and now this last one has thrown me a new wrinkle. I've received a letter from Transworld System informing me that this is a notice "prior to wage withholding" and that this letter is letting me know that this letter has been issued May 25th. 2016 and I have 30 days to respond before they file. Now I’d like to know if: A. Can they take me to court and possibly win a judgement that allows them to garnish my pay. B. The original amount has some additional fees tacked on so now the total amount is: 40k instead of the original 30k. Can this be negotiated back down to the original amount? C. Can I go back to the original creditor and work something out? I’d much rather deal with the original creditor and work out a payment plan with them but I’m not sure if that’s even an option at this point. So do I open the door to Transworld Systems Inc. or look for another forgiveness program to start paying this debt back? I am living in Georgia and this debt started back in 2005-2006 Any help on this matter is appreciated.

Didn't know there was a separate thread for this, i'll post this question there. Thank you very much.

I am currently in default in my student loans and have been working on knocking down my debt. I wanted to tackle this one last since it is my biggest 30k. The overall debt has been passed around from collection agency to collection agency and now this last one has thrown me a new wrinkle. I've received a letter from Transworld System informing me that this is a notice "prior to wage withholding" and that this letter is letting me know that this letter has been issued May 25th. 2016 and I have 30 days to respond before they file. Now I’d like to know if: A. Can they take me to court and possibly win a judgement that allows them to garnish my pay. B. The original amount has some additional fees tacked on so now the total amount is: 40k instead of the original 30k. Can this be negotiated back down to the original amount? C. Can I go back to the original creditor and work something out? I’d much rather deal with the original creditor and work out a payment plan with them but I’m not sure if that’s even an option at this point. So do I open the door to Transworld Systems Inc. or look for another forgiveness program to start paying this debt back?

And to answer pjmaxwellian, these are state liens.

These are Tax Liens in GA. It appears that my best recourse would be to pay them to get them removed. I'm just hoping I can make a deal with them and pay a lower fee.

Thank you cashnocredit sounds like i'll have to suck it up and pay those off. I'll call tomorrow to see if I can work out a smaller percentage of the debt since these are pretty old.

Hdporter, per your post it sounds like calling the creditors and making a deal to pay off the items would be the best way to go. Should I request something in writing from them stating that they will mark my debt as "satisfied" before paying them anything?

I'm applying for a loan and have found that I have two old tax liens on my credit report [2007/2008]. I remember seeing somewhere that there was a statute of limitations [7 yrs] for this type of debt. Doing the math one of the debts 9 yrs old [2007] and 8 yrs old [2008]. My mortgage lender doesn't want to move forward until these are cleared up. I've seen within the forums that paying off old debts can sometimes be harmful since it resets the clock for those items to remain on your credit report. I'm looking at two different options: 1. Make a deal with the creditors and pay off the debt. Can I see if I can settle for 50 - 75% off of the original debt. 2. Let the trade line drop off of my credit report. - If I can exercise this option is there somewhere I can look up the law on this? Asking the board what's the best way to go with this one? Thanks in advance.

Any particular questions I should be asking the finance guy? And based on what he tells me when should I be comfortable to let him pull the trigger on pulling my credit?

Well that's kind of why I was asking, I didn't want the dealerships pulling my credit a bunch of times to be denied at one dealership and then have to go to another one anyway. I'm leaning towards the bigger dealership I agree that they might have a stronger arm into financial agencies as well as the fact there vehicle is cheaper. So one other question, what would be the best approach?, let the sales person put in the credit app and then figure out something or just ask to talk to the finance mgr & let him know that my credit isn't good and to only apply to places that i'd have a chance to get approval. I have to say this whole thing is kind of nerve wracking. I'm making 75k and worried about applying for a loan of 20k with 5k down. Hopefully this process will be over soon...

My credit situation is pretty poor, due to divorce, losing my job, etc. (credit rpts in the 500's) Now i'm starting to get back on my feet and with the help of Credit Boards i'm making in-roads to repairing my credit. I'm in the market for purchasing a new car and I have at least 3 that i'm looking at (credit apps put in to marv to look at). I have a quick question about the overall process & which side would be easier for approval. I'm looking at a large dealer for a used 05 Nissan and a smaller dealer (not a buy here/pay here type place) for 2 others. Would it be easier to get financing from the big dealership or the smaller one. Also what type of paperwork should I be expected to bring with me? I'm sure proof of income, i'm not sure if I should be expecting to bring anything else with me.

And lastly, trying to keep my options open if I get turned down for the one i'd really like to buy Credit Application: Your Age? 42 Your Equifax Credit Score? 500’s not sure of exact Your Experian Credit Score? 500’s not sure of exact Your TransUnion Credit Score? 500’s not sure of exact How many years have you been on file with Equifax? 10+ How many years have you been on file with Experian? 10+ How many years have you been on file with TransUnion? 10+ YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY Do you have an open auto loan? No Will this open auto loan be a trade-in? How many late pays within the last 12 months on the currently open loan? 0 How many late pays within the last 13-24 months on the currently open loan? 0 Your current open auto loan is financed with? Your current open auto loan payment is? Estimated amount you may be upside down in this vehicle? Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) YOUR REVOLVING CREDIT HISTORY Total number of revolving account(s) you have? Total percentage utilized overall? 100% Credit, 0% Debt How many of your revolving accounts are store cards? How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 0 YOUR PERSONAL INFORMATION How long at your current residence? 4 Years (Current) Do you Rent or have a Mortgage, or Live w/Relative or Other? Renting (Current) Your Monthly Rent or Mortgage payment? $800 How long have you held your current job? 6 months Your total provable monthly gross income is? $ 5,769(Pre-Taxes) $3,774.62 (After Taxes) Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return, or bank statements) Computerized Paycheck Stub Is there additional monthly income? What amount monthly? N/A Describe the source. Is the additional monthly income provable? N/A Spousal income is not applicable. YOUR DOWNPAYMENT Please tell me your exact down payment in cash? Would put down 5k Does any credit repository contain any Public Record? Dekalb County Superior Court: $6,325 . Gwinnett County Superior Court: 1,513 Does any credit repository contain any Collection Account(s)? Yes Escallate Inc. – 335. Afni - $160. CBCS - $300. Child Support Enforcement – 2,310. 1 repossession (car Mar 06), Forclosure (06) Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 6 Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 6 Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 6 New or Used vehicle you are considering: Please very briefly describe. I'm currently looking to purchase a Used 2005 Nissan 350Z $19,995