meow wrote:Does going to prison effect one's credit? A friend wants to know...
If said friend's bills were paid while in prison, no. Criminal record has no bearing on credit. In reality, bills usually do not get paid while in jail, so those people tend to have bad credit.
Regarding the collections removal:
A number of years ago, I had to go to the emergency room, which is a $50 copay. I was having heart palpitations (although at the time, I didn't know that's what they were.) Long story long, when you go in saying you're having a heart issue, they yank you back right away and there's no paying of copay, getting info, etc. So, the hospital sent me a bill for the co-pay, but to the wrong address. I didn't know, obviously, and forgot about it. A year or so later, I check my credit report and see it on there. I call to get it taken care of, and they tell me too bad, so sad, can't take it off. I speak to a supervisor who tells me if I pay it, they will remove it. So I paid it that day........but it's still on my credit report. It makes me so mad, because it's a damn $50 hospital bill I didn't even know about.
Is there ANY way to get this removed? I know it doesn't matter, but it still incenses me.
Unless you have the agreement in writing, you'll just have to wait until it falls off. At very worst, make sure the collection company has it marked as paid.
EDIT: actually, if this was resolved a couple years ago, leave it. By having them update it, you reset the clock on having it stay on your credit. If you cleared it up recently, have them mark it as paid if it's not, but get a letter from them stating you did pay it in full in case a lender wants to require you to pay it for a loan. Collection companies shut down all the time, so if you wait and need that letter, you might be SOL.
mac5155 wrote:so using credit karma really doesnt have an adverse effect on your credit score?
It does not. It is a "soft" inquiry. That being said, it's mostly accurate, but I've noticed my score is a little bit off from what shows up on a hard inquiry.
Letang Is The Truth wrote:is there a time frame for when the inquiries drop off?
Here's a good article on the whole inquiry thing http://creditcardforum.com/blog/how-lon ... it-report/
Fire0nice228 wrote:What if I basically use my credit card as a debit card for the points? I get online and make payments as soon as it posts. Should I just wait until the billing cycle ends? I have had people tell me that the credit agencies don't "see" any activity because I dont let it roll over.
All credit is is a snapshot at the time it's pulled. It doesn't track what you've done the last week, month, or year in terms of how much of a balance you have had. It only sees what is there at the time pulled. You would show a zero balance on your card (or a very small balance). Length of time it's been open and the fact it's always been on time will play a bigger factor in your score. If that was your one and only credit line you've ever had, the balance would play a much bigger role than if you had a bunch of history on your credit.
pens9192 wrote:In 2009, I joined American Consumer Credit Counseling to close out my credit card accounts and consolidate the multiple monthly payments into one payment. Next summer, I will be done making those payments. What effect will that have on my credit? I pulled my credit report last month and everything looks ok. The credit card accounts are shown as closed and receiving monthly payments from ACCC. My score is 740. Thanks.
This is actually a piece I'm not great with as it was just catching on when I got out of the business. I know that if you are in credit counseling, you can't get a mortgage until you are out (not sure if this is still the case). It was almost more of a hindrance than a bankruptcy. Sorry I can't help more here, I just don't know.