Does your credit stay fucked for years after you pay all your bad debt off? - GoFuckYourself.com

eddie-executive · 06-07-2004, 05:55 AM

People say for 7 years it stays on your credit report even if you pay everything off, is that true? I haven't used credit in like 6 years don't like it. I have about 4k in charged off credit card debt from when i was 19. Now i feel like paying that off to get a bank loan for a business. If everything is paid off will it be difficult still to get a loan?

EviLGuY · 06-07-2004, 05:57 AM

Yeah it stays fucked for a while.. at least it does up here. Why not do one of those online credit report things?

Phoenix · 06-07-2004, 06:00 AM

if it was from when you were 19..you mightbe able to explain it to your bank manager.

if you have your debt paid off soon they might take you on.

all depends on how you present yourself, as it comes down to the person sitting on the other side fo the desk.

crockett · 06-07-2004, 06:01 AM

you can normally make a deal with them and and not have to pay the full amount. If they have written it off as a loss. But best thing to do is get them to put in writing that they will report it as a paid debit so it reports as good credit if you pay it off. The other thing is they can keep reissuing a claim on your debit for ever if they want to so it can stay in your history much longer than 7 years.

Doctor Dre · 06-07-2004, 06:03 AM

Quote:

Originally posted by Phoenix
if it was from when you were 19..you mightbe able to explain it to your bank manager.

if you have your debt paid off soon they might take you on.

all depends on how you present yourself, as it comes down to the person sitting on the other side fo the desk.

not everywhere. Here they just fill paperwork and the computer does the rest of the job ... They got the folder of somebody else many time for me ... cock sucking mofos

eddie-executive · 06-07-2004, 06:03 AM

im pretty fucked. Oh well i don't need another bill anyway I'll save up.

BV · 06-07-2004, 06:06 AM

you need to get another credit card as soon as possible and start using it and paying it off completely monthly

Nathan · 06-07-2004, 06:07 AM

This is weird.. its possible to just not PAY debt in the US even if you could? I would expect CC companies to be behind their money like hell, especially in the US and sue your ass off if you can not pay or claim you can not pay?

clickhappy · 06-07-2004, 06:08 AM

I had 1 tiny fuck up on my credit when I was 19 and it fucked me up for 7 years. No loans, no car, no nothing.
My credit is excellent now and I'll Never fuck around with it again.

NoCarrier · 06-07-2004, 06:21 AM

Unfortunately, your credit record will show everything from the past 7 years. Unless you think there is a mistake, you can call the creditors and ask them to remote it.

clickhappy · 06-07-2004, 06:47 AM

I also used these guys
http://www.lexingtonlaw.com/

they were good, but by the time you start your case with them and they mail despute letters, get responses, re-mail despute letters, etc etc, it took a year before I had something removed from my credit. and it's around $40/mo

12clicks · 06-07-2004, 06:53 AM

Quote:

Originally posted by eddie-executive
People say for 7 years it stays on your credit report even if you pay everything off, is that true? I haven't used credit in like 6 years don't like it. I have about 4k in charged off credit card debt from when i was 19. Now i feel like paying that off to get a bank loan for a business. If everything is paid off will it be difficult still to get a loan?

you'll never get a business loan.
period.

eddie-executive · 06-07-2004, 07:22 AM

Quote:

Originally posted by 12clicks
you'll never get a business loan.
period.

Just because you can't get one for your sex change its not my fault.

PrivateIvy · 06-07-2004, 07:25 AM

Yup...7 years..and it doesn't always automatically fall off then.....you may have to write the creditor after 7 years to get it removed.

You can get a free copy of your credit report and credit score to keep a check on things at www.equifax.com

If it's old and you have recent good credit, most creditors will overlook.

Ivy

HammerALL · 06-07-2004, 07:26 AM

I don't know where you are - but I used to work for a bank here in Toronto and the rule was that you had to be clean for at least 7 years and also you have to re-establish credit before going for a loan or mortgage - that means that you will have to use credit cards and/or store credits to increase your credit rating - don't know if that helps but good luck!

EscortBiz · 06-07-2004, 07:28 AM

you have to tell us numbers

how much bad debt

how much of a loan are you looking for

is it a brand new business

do you have personal financial statements and or business financial statements

there is no single answer, it depends on many thing

TheMob · 06-07-2004, 07:28 AM

Quote:

Originally posted by clickhappy
I had 1 tiny fuck up on my credit when I was 19 and it fucked me up for 7 years. No loans, no car, no nothing.
My credit is excellent now and I'll Never fuck around with it again.

what did you do?

Herb Kornfield · 06-07-2004, 07:32 AM

Your credit will show the last 7 years of good / bad / ugly. There will always be some explaining that you can do in terms of blemishes that are reasonable ( divorce, health issues, etc)

There will ALWAYS be places that will lend you the cash that you need no matter your credit, its all reflective in the interest rate that you will get slammed with if your credit is worse.

You may want to consider a cosigner and allow them to assume some risk or better yet, wait until you have significant cash reserves to do your plans without the overhead of loans in case of less than projected returns.

sheldonjuan · 06-07-2004, 07:35 AM

Quote:

Originally posted by Doctor Dre
not everywhere. Here they just fill paperwork and the computer does the rest of the job ... They got the folder of somebody else many time for me ... cock sucking mofos

I'm gonna guess that English isnt your native language?

Psytonic · 06-07-2004, 07:36 AM

never had problem with my credit. Probably because i've never taken out a loan through my bank

12clicks · 06-07-2004, 07:36 AM

Quote:

Originally posted by eddie-executive
Just because you can't get one for your sex change its not my fault.

Lets go over this slowly as you seem hung up on your sexual fantasies.

You're a 25 yr old, living with mommy, bad credit, anti networking, no business, fool.
When you go to the bank for a business loan, THAT'S what they'll see, not all of your really cool posts on GFY.

Lauren · 06-07-2004, 07:56 AM

Quote:

Originally posted by eddie-executive
People say for 7 years it stays on your credit report even if you pay everything off, is that true? I haven't used credit in like 6 years don't like it. I have about 4k in charged off credit card debt from when i was 19. Now i feel like paying that off to get a bank loan for a business. If everything is paid off will it be difficult still to get a loan?

the credit report stays even after you pay off all your dept. and before they allow you to get a loan, you need to atleast show good credit standing.

Jer · 06-07-2004, 08:03 AM

Quote:

Originally posted by sheldonjuan
I'm gonna guess that English isnt your native language?

His native language is french.

06-07-2004, 05:55 AM	#1
eddie-executive Confirmed User Join Date: Apr 2003 Posts: 2,061	Does your credit stay fucked for years after you pay all your bad debt off? People say for 7 years it stays on your credit report even if you pay everything off, is that true? I haven't used credit in like 6 years don't like it. I have about 4k in charged off credit card debt from when i was 19. Now i feel like paying that off to get a bank loan for a business. If everything is paid off will it be difficult still to get a loan? __________________ Jealousy... is a mental cancer. ~B.C. Forbes

06-07-2004, 06:00 AM	#3
Phoenix BACON BACON BACON Industry Role: Join Date: Nov 2002 Location: Poems everybody, the laddie fancies himself a poet Posts: 35,462	if it was from when you were 19..you mightbe able to explain it to your bank manager. if you have your debt paid off soon they might take you on. all depends on how you present yourself, as it comes down to the person sitting on the other side fo the desk. __________________ Skype Phoenixskype1 Telegram PhoenixBrad https://quantads.io

06-07-2004, 06:01 AM	#4
crockett in a van by the river Industry Role: Join Date: May 2003 Posts: 76,806	you can normally make a deal with them and and not have to pay the full amount. If they have written it off as a loss. But best thing to do is get them to put in writing that they will report it as a paid debit so it reports as good credit if you pay it off. The other thing is they can keep reissuing a claim on your debit for ever if they want to so it can stay in your history much longer than 7 years. __________________ In November, you can vote for America's next president or its first dictator.

06-07-2004, 06:03 AM	#6
eddie-executive Confirmed User Join Date: Apr 2003 Posts: 2,061	im pretty fucked. Oh well i don't need another bill anyway I'll save up. __________________ Jealousy... is a mental cancer. ~B.C. Forbes

06-07-2004, 06:07 AM	#8
Nathan Confirmed User Industry Role: Join Date: Jul 2003 Posts: 3,108	This is weird.. its possible to just not PAY debt in the US even if you could? I would expect CC companies to be behind their money like hell, especially in the US and sue your ass off if you can not pay or claim you can not pay? __________________ "Think about it a little more and you'll agree with me, because you're smart and I'm right." - Charlie Munger

06-07-2004, 05:57 AM	#2
EviLGuY So Fucking Banned Join Date: Apr 2003 Location: malta Posts: 12,745	Yeah it stays fucked for a while.. at least it does up here. Why not do one of those online credit report things?

06-07-2004, 06:06 AM	#7
BV wtf Industry Role: Join Date: Sep 2001 Location: Bikini State, FL USA Posts: 10,914	you need to get another credit card as soon as possible and start using it and paying it off completely monthly

06-07-2004, 06:08 AM	#9
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	I had 1 tiny fuck up on my credit when I was 19 and it fucked me up for 7 years. No loans, no car, no nothing. My credit is excellent now and I'll Never fuck around with it again.

06-07-2004, 06:21 AM	#10
NoCarrier We need more free porn Join Date: Mar 2002 Location: Montreal Posts: 16,356	Unfortunately, your credit record will show everything from the past 7 years. Unless you think there is a mistake, you can call the creditors and ask them to remote it. __________________

06-07-2004, 06:47 AM	#11
clickhappy Confirmed User Industry Role: Join Date: Mar 2004 Posts: 4,027	I also used these guys http://www.lexingtonlaw.com/ they were good, but by the time you start your case with them and they mail despute letters, get responses, re-mail despute letters, etc etc, it took a year before I had something removed from my credit. and it's around $40/mo

06-07-2004, 07:25 AM	#14
PrivateIvy Confirmed User Industry Role: Join Date: Oct 2003 Location: North Carolina Posts: 4,257	Yup...7 years..and it doesn't always automatically fall off then.....you may have to write the creditor after 7 years to get it removed. You can get a free copy of your credit report and credit score to keep a check on things at www.equifax.com If it's old and you have recent good credit, most creditors will overlook. Ivy

06-07-2004, 07:26 AM	#15
HammerALL Confirmed User Join Date: Apr 2004 Location: Toronto Posts: 3,506	I don't know where you are - but I used to work for a bank here in Toronto and the rule was that you had to be clean for at least 7 years and also you have to re-establish credit before going for a loan or mortgage - that means that you will have to use credit cards and/or store credits to increase your credit rating - don't know if that helps but good luck! __________________ Mario Amaral AKA: Hammerall Affiliate Sales \| Email:[email protected] Skype: Hammerall \| ICQ: 190272140

06-07-2004, 07:28 AM	#16
EscortBiz Fuck Checks, CASH only! Join Date: May 2002 Location: New York City Posts: 19,422	you have to tell us numbers how much bad debt how much of a loan are you looking for is it a brand new business do you have personal financial statements and or business financial statements there is no single answer, it depends on many thing __________________ Spanking, Medical Fetish, Sleeping, Strap-on Anal Lesbians, Girls Fucking Guys, Handjob site REAL HOT, Shemales, Anal and Ass Licking sites 100% Real EXCLUSIVE with amazing retention, ccbill payouts, lots of content FREE FTP HOSTING Promote the largest and oldest member paid escort site, Converts 10 times better then any dating site, CCBill payouts ICQ# 158802076

06-07-2004, 07:32 AM	#18
Herb Kornfield Is on the 1 Industry Role: Join Date: Sep 2002 Location: Philly Burbs Posts: 4,996	Your credit will show the last 7 years of good / bad / ugly. There will always be some explaining that you can do in terms of blemishes that are reasonable ( divorce, health issues, etc) There will ALWAYS be places that will lend you the cash that you need no matter your credit, its all reflective in the interest rate that you will get slammed with if your credit is worse. You may want to consider a cosigner and allow them to assume some risk or better yet, wait until you have significant cash reserves to do your plans without the overhead of loans in case of less than projected returns.

06-07-2004, 07:36 AM	#20
Psytonic Confirmed User Join Date: Mar 2004 Location: Australia Posts: 260	never had problem with my credit. Probably because i've never taken out a loan through my bank