Re: Unfortunate Debt

Posted by Linda on November 26, 2001 at 13:44:28:

In Reply to: Unfortunate Debt posted by MM on November 25, 2001 at 18:58:32:

If you pay it, you will be able to get your mortgage. If that is your priority, do it.

You can dispute it off your credit reports later, unless you mortgage broker wants to try to get it removed for you - some will. It doesn't hurt to ask.

It will affect your interest rates and the prime companies won't give you credit for a while, until you either get it off, or it falls off (7 yrs from the date you unpaid it, LOL (date of delinquency).

There were probably things you could have done if you had known about this earlier. Once somebody decides you owe them money, they don't go away - ever. You have to keep following up - that's life with computers!!

Always check your own credit reports before applying for any kind of credit. Better yet, check them periodically.

Linda

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