Comments on: Can One Bad Account Ruin Your Credit Score?

By: Debbie Spady

Debbie Spady — Tue, 02 Jun 2009 09:52:13 +0000

if i close my credit cards. will that ruin my credit

By: Maggie

Maggie — Mon, 15 Dec 2008 19:28:53 +0000

I am finding myself unable to keep paying my car which is a considerable high montly payment. When I took the loan, I was earning more money than now, but since it is happening more and more everywhere, my income has been drastically reduce, os it is paying my house or paying my car and I rather walk.
How does this affect my credit score? I know it is good at the moment since I have been struggling to keep payments on time, but it is not longer a reality.
Thanks

By: richie

richie — Wed, 10 Dec 2008 20:17:23 +0000

Hi,
I really need good advice about my private student loan. Sallie mae has increased my monthly payment so much that i cant pay it. I have missed about 3 or 4 payments now, im behind. My loan payment i was told, was going to be about $282 before i took the loan, and when i got my payment schedule it was about $309 then it went to $332 then $360. My balance was around $25,000 , now its $31,000 and i have been paying it for about 2 years.. I dont understand why am i paying $300 plus only to see my balance go up $5000. I stopped paying. Someone said if i continue to pay then they wont help lower it, if i dont pay they will work with me. However my main question is , how does this affect my dad who cosigned? I mean how bad can this one account hurt his credit, if it is perfect otherwise ? will it kill him ? or will he be ok to still borrow money ? I dont care what happens to my credit right now, but his I do ? and since this is not a gov’t student loan, what happens if i never pay them ?

Thank you so much for your time I greatly appreciate your help

Richie C

By: Leigh

Leigh — Mon, 06 Oct 2008 17:13:54 +0000

If I have decided to close an account, what is the optimal length of time to leave that account open before I give it the heave-ho?

I have a cc with a TERRIBLE interest rate that I just opened 5 months ago, the lender drives me crazy, and I will never use the card again. Someone told me that it is better to leave an account open for 12 months before closing it, and that this will not hurt your credit score. Is it true that your score will be hurt if you close an account that you’ve only held open for a few months?