What is the name of your state?
Coloardo
I have two questions, if it is required that I break them into separate posts please lock this one and I will do so.
First of all, I am concentrating on improving my credit score. I was irresponsible in my youth but now I have achieved a level of income that will afford me a decent house once I clean up my act. One of my past sins is an old unsecured debt (about 9k) that I ignored for far too long. I am about ready to enter into a fairly aggressive (well for me) repayment plan but someone told me that activity on this debt will "re-open" it and it will actually hurt my credit score. Is this true? If this is the case I am willing to "ignore" it for another year or so (knowing it will cost me in interest) until I actually get into a house and pay it off then.
Secondly I just got a call from the company handling my student loans. I have now made 9 consecutive payments and they said they are going to have someone "certify" that I am in compliance with their program and my loan will not be in default anymore. The person on the phone told me that it will be picked up by the original lender again and some negative marks will be removed from my credit report. She claimed that this will be a noticable improvement on my credit rating. I know there isn't much I can do about this but I was wondering if this is true or is it just debt collector BS to motivate a deadbeat (me) to continue to pay.
Thank you for your time.
Coloardo
I have two questions, if it is required that I break them into separate posts please lock this one and I will do so.
First of all, I am concentrating on improving my credit score. I was irresponsible in my youth but now I have achieved a level of income that will afford me a decent house once I clean up my act. One of my past sins is an old unsecured debt (about 9k) that I ignored for far too long. I am about ready to enter into a fairly aggressive (well for me) repayment plan but someone told me that activity on this debt will "re-open" it and it will actually hurt my credit score. Is this true? If this is the case I am willing to "ignore" it for another year or so (knowing it will cost me in interest) until I actually get into a house and pay it off then.
Secondly I just got a call from the company handling my student loans. I have now made 9 consecutive payments and they said they are going to have someone "certify" that I am in compliance with their program and my loan will not be in default anymore. The person on the phone told me that it will be picked up by the original lender again and some negative marks will be removed from my credit report. She claimed that this will be a noticable improvement on my credit rating. I know there isn't much I can do about this but I was wondering if this is true or is it just debt collector BS to motivate a deadbeat (me) to continue to pay.
Thank you for your time.