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  1. ​Maybe you can negotiate to have it taken off once it's paid? Anyways the best thing you can do is to try to keep any debts from going into collections or any other default state because those are huge red flags. You are going to have to pay it anyways, might as well work with them while you are in the green and it can actually help your credit.
  2. To answer your question, yes it does, and if she doesn't pay the bill, it will go on your report just as though the account was yours and you didn't pay, and if they want to come after someone to pay the balance, you might as well just have taken the loan out yourself. Basically it is the same as you taking out a loan and giving the money to her, which would actually be a better way to do it. At least that way, you would have direct control.
  3. So much hate for ole Dave. He has a point, but takes it too far. He's wrong about having to be in massive loads of debt and pay a lot of interest to get a good FICO score. He is right that debt is a serious problem for a lot of people. When you use credit for it's rewards, you are taking the cheese out of the mousetrap before it snaps. A lot of people just aren't fast enough and get caught. If you can do it, great, but most people can't. Getting in debt is like starting smoking, you are trading the long term for the short term, you don't realize how bad it is until it gets so bad you can't handle it, and once you get out of it/quit, you see just how bad it was. I use credit cards for their rewards and discounts, always pat the total balance every payment.
  4. I have thought of seeing a lawyer about my foreclosure with Wells Fargo. First, they slap some huge insurance premium on my house because my insurance determined that I didn't live there somehow, even though I did. Then, added that to my payments. Then, when I couldn't make that payment, but later I had some of it, they wouldnt' take a partial payment, nor would they work with me or do any of the programs to refinance, and two days after I was 90 days late, my house went to auction, where they got the exact amount I owed on it, not a penny more, not a penny less. Then, they had me out of that house in no time, gave me two weeks to get out.
  5. Don't obsess about the score too much. Something I learned buying a house. The credit score is just the title, not the find print. There are so many other factors. For more serious loans, they are going to look at many factors. The fact that you paid off all those debts is a big factor, even if it doesn't reflect on the score. I recently paid off a charged off credit card. A non-paid account that is in collections or closed means you don't pay. If you have all that paid off, they know, you do pay your bills, even if late. Sure they would like on time payments, but their biggest fear when loaning people money is not getting their money back. Now that you have everything paid off, you need to start showing a new habit of paying on time. If all else fails, at least when those accounts do fall off after 7 years, you will show a solid payment history. Good luck, I'm still learning a lot.
  6. The VS CC's best attribute is the discounts and coupons you get for being a VS card holder. In a lot of cases, it brings the cost down to reasonable prices! It was my first card back in the 90's but then after her and I broke up, I no longer used it, and it was closed for inactivity. Recently got one because well.... fiance... that's why, and to rebuild credit. Anyways, long story short, $250 is my limit now, and that was the limit I got back in the 90's. $250 today is like $150 back then.
  7. I've been listening to DR for a long time. He has a lot of good points. Yes, he's a "pay with cash or go without" type. He isn't against credit cards being used for their rewards points, but he is against carrying a balance. What many do is they carry a balance and are paying high interest and then justify it because they are getting reward points or cash back. Basically, use your credit cards as charge cards. To me, it's if the interest is worth it. If say you can get a really great price, but you'll have to pay it off in several payments, as long as the interest doesn't overrun your savings you are ahead. I've financed things before because the item I purchased helped me make money.

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