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  1. If you have been making payments on time and have other open accounts it probably will not have any impact if you pay the loan off. It is different from paying off a credit card which has a limit and affects your available credit. Keep in mind that the student loan is tax deductible if you itemize your taxes, so unless you got a great rate on the car loan it may make more sense to pay down the car loan before the student loan.
  2. Last word of advice, yes get the settlement in writing and keep it in a safe place. I made a settlement with a lender and years letter they sold the loan and some collector tried to collect the debt. Also ask them if they will settle without reporting the chargeoff to the credit bureaus. Slim chance but it is worth asking. Finally, remember that you are liable for taxes on forgiveness of debt. It will count as income.
  3. Can she get a secured card first and start building something positive? I had to do this for my mother, she had a totally blank credit file after my father passed. In your friend's case, I don't think they will care about the collections as long as the card is secured. Then you can try your luck with the deletions.
  4. HSBC nicely offered me a card 6 mos after I filed Ch 7, it wasn't even discharged yet, and then later sold their card business to Cap One . They came into the US in the 1980s when they bought Marine Midland Bank in NY and later made a bunch of other acquisitions. They had a unit called Juniper that did subprime credit cards. HSBC went through some hard times sold off their mortgage business, most of the former Marine Midland branch network in upstate NY and PA, their credit cards and the former Household finance business. They seem to be coming back into most of these businesses but it sounds like trying to get the toothpaste back into the tube.
  5. I don't know what your income is but $10,000 in debt - half of it student loans - is not a terrible situation. The bankruptcy will not get rid of the student loans, so not sure why you would do it for only $5,000. Would be better if you could come up with a budget and a payment plan an keep your spending and credit under control . The judgment is probably scarier than it sounds if they can't garnish your wages, they aren't going to get anything and it eventually drops off your report. Make a deal with Capital One and clean up your act. Your credit report will look bad for a while but will eventually improve.
  6. I had cap one iib for a pretty large sum - my business failed during the recession and I guaranteed the business debts so I had to file. They were forgiving, offered me credit a year later, and now I have several accounts with them all in good standing. They've been terrific. AMEX and Discover have me blacklisted.
  7. You're so close! You don't need 15 points you need to increase Equifax by 6 and Experian by 12. The underwriting system is automated and these rescoring adjustments are done frequently. If your broker says he can do this and had his experts gave him the numbers then it should work - the only thing that matters at this point is your mortgage app credit score, your history is not relevant. And of course you need to have enough cash to close. I am not sure I understand the numbers ... would it cost you $8,600 less the $3,500 savings on closing costs = $5,100 to save .375% on the mortgage? Look at the monthly savings on the mortgage PLUS on the reduced credit card payments and how long it will take you to make the money back. Hopefully you can use the savings on mortgage plus cards to pay off those debts and replenish savings. Also consider that this may be a once in a lifetime opportunity to lock in that kind of rate on the mortgage. If you can afford it by all means do it.
  8. I had a very strange experience with CapOne,. it worked out fine in the end. They were included in my Ch 7 filing and sent me multiple invitations to reply about a year after. I was declined because they were IIB, but continued to receive their marketing materials. I found that calling into the offices as you did got me nowhere. I patiently waited and applied each time they invited, was declined again but then and eventually was approved. In one case they told me that my applications were too close together, go figure. Its all good now,. with credit steps, my line is up to $5900 four years out. My personal credit was good, the bankruptcy was all about a field business,so I dont know how much the xcore counts.
  9. why would you want to remove them if they are paid in full zero balance? this is helpful for your score.

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