Re: Re-establish credit
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Posted by observer
(152.163.189.170) on November 15, 2002 at 16:52:23:
In Reply to: Re-establish credit posted by kimbole on November 15, 2002 at 15:51:34:
Easy enough to answer. A car loan and a mortgage are secured loans. Should you default, the lender may repo or foreclose and mitigate a potential loss.
The same can't be said for unsecured credit like a credit card.
How long has it been since the Rich's charge off? Derogatory info should fall off after 7 years.
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