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| *Ostroff, Fair and Company>>>Credit |
Mom used me(with my consent), (didnt know what i was getting into)? |
when will they lift this off my credit? It has been about 7 years, the house burned in 2001, and it was my moms for 7 years before it burned, she refinanced and used me and my son income back then. When it burned, the insurance had been cancelled 3 days earlier so no insur. Now, $35,000 has been left on the credit report(me and hers), she has done little to remove the mark, Now it says it has been paid in full, but the mortgage company wont issue a letter or clear it off the TRW?? Why are they doing that if it is paid in full and the balance is zero? Is there anything I can do, I want to bring my credit score up. Also, I baught a car and paid for it in a year, all my payments on time is that good for my credit, will it bring up my score at all? Please answer this for me I need to know these things soon. Thanks If the debt is showing on your credit as paid in full, there is nothing further that needs to be done. Installment loans such as a car loan will help improve your credit, but the most important type of credit that helps the most to improve and raise your credit scores is revolving debt, such as credit cards. Credit card usage gives the best indication of how responsible you can be with credit. Please check out the blog below to learn how to improve your credit scores and how credit scoring works. Best of luck. Some quick tips for helping to increase your credit score: * Know and understand your credit and how credit scoring works * Review your credit report 1-2 times per year * Request limit increases to provide better balance to limit ratios (do not use extra limits) * Pay all accounts on time and make sure you do not go past 30 days late *Avoid allowing any accounts to go into a collection status *Avoid bankruptcy *Never max. out your credit cards * Ask questions if you don't understand something on your credit report * Dispute inaccuracies and errors as soon as they are discovered *Keep you balances 40% or lower from your credit limit on revolving credit *When shopping for a mortgage or auto loan try to do it within 14 days so that it only counts as 1 inquiry * Do not close revolving accounts after you pay them off * Don't be afraid to ask friends and family for help or advice if you get into a jam * Don鈥檛 go crazy applying for a lot of new credit * Use some common sense * Look into some of the alternative rebuilding credit methods mentioned above * Establish a long history of credit * Don鈥檛 think that if you pay for everything in cash and don鈥檛 have any credit that this is good for you. * It may help your debt to income ratios, but it will not necessarily help with financing for a mortgage or with having a good credit score. * Do not live on credit cards and manage your credit wisely * Be responsible when utilizing credit and don鈥檛 over extend yourself * If you get into credit trouble search for a solution early on, communicate with your creditors to find a solution before your credit is destroyed. Most lenders are willing to work with you as long as you communicate with them. Ps: The mortgage debt will still be listed on your credit report regardless of being paid or not, but after roughly 7 years years it will have 0 impact on your credit score any longer. Source(s): http://www.fshomeloan.com/index_files/mo... (tips on improving your credit) Have a solicitor issue a letter of demand in regard to your loss of credit rating and I am sure you will have a response .the car payments will up your rating ~~ Find you an Attorney. Have the Attorney to write the company a letter. If no response take them to court and tell them you demand a letter of release. Write the TRW and tell them you need asssitance on contacting the mortagage company you want it clear off your credit history. An Attorney always can clear the air that's what they do. |
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