Would paying more on a rehab student loan hurt me?

Mar 132011
 

Hello all, would paying more on my rehabilitation  student loans hurt me more than a help to me?  The amount of money they requested that I pay each month on a certain day I can actually pay more sometimes. I would love to pay more but I don’t want this to come back and bite me on my rear end later. I was told that after I pay the ninth month payment that they reevaluate me and I may have to pay more than what I am paying now, and I don,t want them to think just because I paid $200 this month that I can do it every month. If someone can please give me some advice I will greatly appreciate it. :smileysad: I found this site this month, and I don’t know what I will do without it now.

Defferment question/Payment question

Mar 112011
 

I have 3 student loans with nelnet.  One of them is at 6.8 % and the rest are at 1.8 percent. 

 

I cant decide if I should stop paying the 2 loans at 1.8% while they are in differment so that I can pay down the 6.8% loan fast.  (I have paid down my loans by a large amout and are now showing my next payment isnt due until 3/14/2014 but the interest continues to add up.  Since the two loans are in defferment, if I do not make a payment this month, would my credit report show that I am paying like Im supposed to or will it just say deffered ?   

 

What would be better for my credit score/credit report? 

Derogatory item that came off reappearing from different collector

Mar 112011
 

I had a derogatory item pop up out of the blue this month.

I think it’s an old item from Adelphia that was sold to a collector that came off after 7 years.  It was gone for a year, now I think it’s back in another form because another collector bought it.

I knew I should have disputed it. I didn’t bother because it was probably from college–over 7 years ago.

 

It also says:

Account information disputed by consumer, meets FCRA requirements, under remarks.

 

I never disputed the item obviously because it’s so new.

 

What should I do? 

 

Thank you in advance.  

What a frustrating process..

Feb 282011
 

Obviously have screwed up, 5-6 years ago had a TON of lates(30, 60, 90, 120)… then slipped up again about a year ago, my wife took over the bills and 2 of our 11 CC’s didn’t get paid (I signed up for paperless)and 1 went 30 days late and another went 60 before we caught it.. Another part is our sky high utilization, was at 82% on our most recent pull it was 68%… but I am frustrated that my SW hasn’t budged from 591 in almost 4 months despite everything aging a bit and paying down utlization by about 1.7% a month… not expecting a huge jump, but would be nice to see even a 1 point jump..  And it makes it a bit even more frustrating since my TU has rebounded nicely to 658 when they were both mid 500′s in Aug 2010…

 

See what happens this month

 

Paid down my JCP ($160CL) from $124 to $0..

 

Paid down my last OL account ($4500CL) from $4540 to $3500

 

And paid my other balances down by about $500 (equals about 1.5% utlization)

 

This month my utlization has went from about 66% to close to 60% if I figured it out right….

a ccbalance this mo and score crashed by 10 pts… advice?

Feb 192011
 

This i my curious question.   I generally pay my cc off each month.   (cap one scured card)  And I know I need to pay the balance in full and not charge anything until after the 15th of the month.  

 

Well i had a duh moment this week and paid a bill on the 14th with my cc and realized I just made a duh move after I hung up lol..   So with at $500 credit limit I had a balance report of $260..   DOH!   So my EQ score dropped 10 points when it registered.

 

So out of curiosity, when i pay it in full again next month (and not use the dang thing)  will I recover those points?  or was this just a painful lesson learned? 

 

Thanks April

old student loan express in collections

Feb 192011
 

I have an old student loan about 4 years old that is now in collections. I have been trying to contact the different banks to try and start making payments again but the debt changed hands about 4 times in the last 3 months. Fortress investment group owns it now and they hired eos cca to collect. Eos charged $343interest for the month they had the $1765 debt. What is the best way to handle this, should i dispute the interest, and what is the best way to handle this. In jan of next year i plan on buying a house with an fha my score is 635, one year out of a bk. I don’t know where to start with this one. The loan was partly secured by the gov’t. If i need to pay it off cash then it would be six weeks till i can, but i want to use that money to pay medical bills and credit cards off. thanks for any help.

how long is a negative item considered "recent"?

Feb 132011
 

on my report I have a collection that is 8 months old that the co is removing from all reports this month. I also have a paid public record that is 1year 11months old and it still is being considered recent.

 

understanding your FICO score

you have recent public record and collection on your credit report

your most recent public record occured

1year 11months ago

your most recent collection occured                       this item is being removed

8 months ago

 

thanks for your help

Credit Card Utilization

Feb 112011
 

Good morning,

 

I have 5 credit cards that I plan on paying off over the next two months.  I am however trying to increase my scores as quickly as possible and was wondering what makes more sense in seeing the highest score improvement.  I have $900 to use towards payments for this month and was wondering does it make sense to pay off one credit card or two cards (the two together total $900)? 

 

If there is a better method for tackling the ulitization issue please share. 

Paid a Cap One charge off….no updating…advice?

Feb 092011
 

Hello, I am on the hunt to increase my score by 2 points. I saw on myfico report pulled here that I had 108% utilization being used. I only have 1 active card with a 5 percent balance, so I found out that an Old CAp one charge off from 2006 was still reporting into the utlization. I called CAp ONe and after being transferred a number of times, I found out they still owned my debt.

 

I paid them in full on January 30. They said they would send me a receipt, which I am nervous about because I haven’t received one yet…but even more concerning the payment is not updating on my credit report. EVERY other month Cap One reported the charge off, even January 2011. I have my report being monitored and it always informed me of an update the first week of the month. Now that its paid, it doesn’t appear to have updated this month.

 

Is this normal? Can they keep reporting me as unpaid/charged off with a balance? Does anyone know what day of the month they report? I know they report every month and thought it was the very beginning.

Older collections account and need help to determine what to do.

Feb 012011
 

My husband and I have several accounts that have been in collections for almost two years now. This month we are able to pay some of the debt back. We want to fix our credit report and score. The accounts are credit card accounts. We can only afford 6k and we have in order to pay in full 8k. All the accounts are charged off. Our scores are about 515. Should we settle are accounts and have them all settled or should we pay in full and just not pay two accounts and try and pay them this summer? What would be best since our score is already low. We really want to have it improved but are stuck and don’t know what to do. Please help, thank you.

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