I just got a letter from Washington Mutual also known as Wamu yesterday. They lowered my home equity line to $900. It originally started off at $27,500. It was lowered about 6 months ago to just over $8000. What are you going to do with a $900 home equity line? I told them to just close it. They said that you have to pay $55 to close it. Rather than close the line they leave a ridiculous amount on it. They are too cheap to close the thing themselves. They would rather have me pay it. Continue Reading »
Tags: banking, credit, heloc, home equity line, home equity line of credit, reduced credit line, reduced loan limits, wamu, washington mutual
Posted in General Debt Articles
Having collection accounts on your credit report will impact your credit score dramatically. It is not uncommon for unpaid collections to impact your credit score 100 points or more.
Will A Collection Agency Take Payments? Continue Reading »
Tags: can i make payments to a collection agency, can i negotiate with a creditor, credit, credit report, credit score, credit score tips, help improve my credit score, how to improve your credit score, improve credit, improve credit score, payments to a creditor, remove negative items from my credit report, will a collection agency accept payments
Posted in Debt Settlement Articles
What happens to my fico score if I cancel my credit card? canceling a credit card does not eliminate your responsibility to repay the debt. What it can potentially do is to lower your credit score. A percentage of your credit score is determined by your credit history. When you cancel a credit card, your credit history goes with it. Canceling a bunch of credit cards and moving the debt to another credit card will hurt your credit score in most cases. Continue Reading »
Tags: credit, credit report, credit score, equifax, experian, fico score, fix my credit, how is my credit score calculated, is canceling a credit card bad, max out a credit card, my credit cards are maxed, should i cancel my credit cards, transunion, tri merge, tri merge credit report, what is bad for my credit score
Posted in Credit Card Articles
