Several Questions About Our Credit
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Posted by Just Married
(166.82.102.69) on June 12, 2004 at 23:57:51:
We just got married and want to buy a new car. We have a couple of questions about our credit. We live in North Carolina. 1. I have about five cards that have charged off. I believe the SOL is 3 years and I feel that the 3 years should be up soon. How can I find out? Will it help our credit once the SOL is up? 2. My husband recently had a motorcycle repossessed. It was sold and instead of the 7000 that he owed, he now only owes about 2000. Should we begin paying on this or should we wait for it to go into collections and hope for a settlement for a smaller amount. My dad warned that if we settle for a lesser amount, it will go against our credit but that if we pay it off in full, it won't. What is the best thing to do in this situation? 3. Is there anything else we should be doing to try and reestablish our credit? We hope to one day buy a house.
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