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Re: my views on this
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Posted by J Kelly
(68.163.2.72) on August 03, 2004 at 17:24:30:
In Reply to: my views on this posted by catb on August 03, 2004 at 16:50:02:
Well, I haven't used or applied for any credit in years. I didn't even know what the FICO was until creditboards. Still don't understand it!! Anyway, I do read on creditboards, because I have a daughter that will be looking for a mortgage in a couple of years. So, I will want to be able to help her. Son too, if he ever needs it.
From what I read there, creditors have rules to follow. Federal guidlines for loans. That sort of thing, it's not a personal decision, and that paid collection is going to hurt, not help in anyway.
So that loan officer may be very sorry that he can not grant the loan with a decent interest rate, and he may personally commend you for paying that old debt, but he still has to follow guidelines, and that is the bottom line.
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