I received a letter yesterday from a collection agency: I was late in paying a bill for a $10 copay. I actually did put a check in the mail for what I think is this same bill last week, but it looks like it was too late and they've turned it over to this agency. It's only $10, so I'm not worried about paying it (or even paying it twice). What I am worried about is my credit score. The letter says "This account will be reported to the credit bureau in 45 days if not paid in full." Does that mean that if I pay the bill quickly, it won't affect my credit score? Or will paying the $10 somehow be admitting that I deserved to have it turned over to a collection agency? Would it would be better to call the original company and ask them if they received my check and whether they can call off the dogs? Basically, what I want to know is: Is there any downside to paying this $10 bill? And is there anything else that I should be doing to make sure that my credit is affected as little as possible? [more inside]
posted by cider on Nov 10, 2009 - 12 answers

I'm in the process of signing up for PenFed account and it seems like they are asking for a lot of documentation to establish my identity. Is this usual for them? Or am I just being paranoid? [more inside]
posted by eatcake on Nov 9, 2009 - 4 answers

StudentLoanFilter: Should I use my student loan money to pay off my last credit card? long-ish explanation of my situation inside. [more inside]
posted by ThaBombShelterSmith on Oct 27, 2009 - 9 answers

What is the best way to help my spouse improve her credit? [more inside]
posted by anonymous on Oct 20, 2009 - 4 answers

What is the best way to convert prepaid reward credit cards to cash? I have a reward card from American Express and a rebate card through Visa that I would like to convert to cash because spending the precise amount the cards are worth is difficult.
posted by SuperCoolZane on Oct 12, 2009 - 12 answers

Car was totaled, bank that gave auto loan charged off the loan account because the collateral is gone despite us continuing with full and on time payments. What are our options? [more inside]
posted by Nickel on Oct 11, 2009 - 4 answers

DH has opened multiple credit cards with me as an authorized user. We just paid them down to a $0 balance and I want to know how many we can close without hurting our credit. My guess is closing the c/c will impact his credit score and not mine.
posted by Tubman on Oct 6, 2009 - 8 answers

How do I get my life on track with high debt and a chronic medical condition? [more inside]
posted by thegreatcokeolympics on Sep 19, 2009 - 9 answers

Too many credit hours for Federal Student Financial Aid? I am going to Ohio State for a BS in Crop Science, I already have a general studies BS from another school. Now with 268 credit hours, I'm over the 207 allowed to receive federal aid for a Bachelors. What up with this? Anyone every deal this this? Thanks!
posted by Benzle on Sep 18, 2009 - 8 answers

How to negotiate with a credit card company? [more inside]
posted by digividal on Sep 18, 2009 - 9 answers

Can I get a loan or mortgage in any way? We currently live in a building that we more or less own. Technically, we own an LLC, and the LLC owns the building (and that's all it does), so home equity is probably out. We would like to buy a new house about half the value of this one, preferably without selling. However, that would require a loan, and we have lousy credit. [more inside]
posted by lgyre on Sep 17, 2009 - 8 answers

Financial filter: I recently received a very fancy mailing from a company in Florida (Trascendental Lending), offering me (due to new government regulations) to consolidate my credit card dept (35K) to a new 5% loan, with much lower payments. This sounds too good to be true so I presume it is? [more inside]
posted by digividal on Sep 11, 2009 - 9 answers

Help me grow up-filter: am I being realistic about my prospects for finding an apartment? [more inside]
posted by anonymous on Sep 9, 2009 - 13 answers

Credit report question. Is it possible to add positive information to my report? My lender tried but was told a 3rd party can't do it. Does that mean that I can't? And is there anything I can do to raise my score quickly? [more inside]
posted by grablife365 on Sep 9, 2009 - 14 answers

Did we receive sound advice? A friend is filing Chapter 7 bankruptcy in the next few days. A creditor is threatening to repossess some items if said person doesn't respond to the written request for a voluntary surrender of the items. A document pledging the items as collateral was signed. A legal advisor gave the following advice... [more inside]
posted by Muirwylde on Sep 3, 2009 - 7 answers

How much good credit do I need if I want to buy a house in a few years? [more inside]
posted by anonymous on Sep 3, 2009 - 9 answers

Can I get the Federal Tax Credits for Energy Efficiency if I am buying the house right now, and the current homeowner is replacing the furnace for me? [more inside]
posted by dpollitt on Sep 1, 2009 - 4 answers

Who do I speak to at Verizon to deal with a charged off account? I keep getting sent from the collection agency then to Verizon and back. [more inside]
posted by grablife365 on Sep 1, 2009 - 6 answers

Botched online credit card applications: can I have them removed from my credit history since they were due to an unresponsive website, and does it really matter anyway? [more inside]
posted by ocha-no-mizu on Aug 13, 2009 - 5 answers

I'm a depositor, and only a depositor, at a bank. What legitimate purpose is there for the bank to run a credit check on me? [more inside]
posted by NortonDC on Aug 12, 2009 - 27 answers

Credit collection agencies. Should I call and make an offer? Help me get out of this mess. [more inside]
posted by anonymous on Aug 11, 2009 - 12 answers

Credit Card debt for teh first time in my life, I'm lost as to what my options are. [more inside]
posted by bluehermit on Aug 4, 2009 - 20 answers

LearningToBeAnAdultFilter: What is the most accurate, free and legitimate way to get my credit score? I know I'm supposed to be able to get it free once a year, and that there are 3 different reporting agencies.... but.... what do I do? I feel like everyone but me already knows this.
posted by dahliachewswell on Jul 24, 2009 - 11 answers

Weighing the pros and cons of buying a car in the near future. Should I? (And if so, what should I get?) [more inside]
posted by LolaGeek on Jul 22, 2009 - 9 answers

Pay for delete???? Any idea how to begin? I have always had good credit. Recently a old charge from AT&T showed up on my credit report for $50 that had gone to collections. I am guessing this was a balance left after canceling (tho I am not 100% sure). I had previously tried to settle this balance and got the run around, so I finally gave up and did not hear anymore so thought all was fine...I am part of a credit monitoring service so I got work right away that the "hit" had affected my low 700's score and now I have a low 600's score. I have googled my situation and learned about a "pay for delete"...I am however, not sure if I should begin with AT&T or the Credit Agency (which is the Collection Company of America CCA)...the collection originally came through as being from CCA but now it shows up as AT&T on the report. Previous attempt by phone to talk to each company and ask for help was not successful. NOt sure how to proceed, or if it is worth the headache?
posted by mdn31 on Jul 20, 2009 - 9 answers

Thirty days from being broke. Four in 10 people said their savings would last only 30 days if they lost their job, while 38 per cent said they would have to use credit cards to cover household bills and other essential expenses. Is this just an Aussie thing? I find the trend towards using credit to pay day to day living expenses a bit scary, but how common is it really in your demographic/country/etc? Is living that close to the financial edge the new norm in the Western world?
posted by Lolie on Jul 15, 2009 - 50 answers

Will my credit ever recover? I was trying to do better.. got a job, paid on time.. But I got rejected for a credit line increase today. Mind you, my current limit is already only $300! [more inside]
posted by anonymous on Jul 13, 2009 - 10 answers

How can I not pay the American Express membership fee and not have to close the card (which negatively impacts my credit score) because I dont want to use it anymore? [more inside]
posted by schindyguy on Jul 9, 2009 - 8 answers

Surprise credit denial... of 4 cited reasons, two do not seem possible. Trying to rule out possibilities before I conclude there has been identity theft. So: can anything else be termed "mortgage" besides a home loan? What about "current credit card accounts?" [more inside]
posted by lily_bart on Jul 6, 2009 - 10 answers

Should I disclose this stuff on my rental application? How far back do they check these things, anyway? [more inside]
posted by anonymous on Jun 30, 2009 - 7 answers

How can I get an emergency loan to pay the rent? [more inside]
posted by anonymous on Jun 25, 2009 - 21 answers

Scared of going to prison due to tax payments. Need advice... [more inside]
posted by anonymous on Jun 21, 2009 - 7 answers

Is my U.S. credit score based on the total available credit on all cards, or is it also based on the available credit on an individual card? [more inside]
posted by East Manitoba Regional Junior Kabaddi Champion '94 on Jun 15, 2009 - 10 answers

Six months redundant and black dog approaching fast. Survival advice sought. [more inside]
posted by anonymous on Jun 12, 2009 - 9 answers

I've been an irresponsible idiot. My car was repossessed - now what? [more inside]
posted by anonymous on Jun 4, 2009 - 7 answers

Seeking techniques for aiding/supporting/educating a financially irresponsible spouse who talks the talk but won't walk the walk. [more inside]
posted by anonymous on Jun 3, 2009 - 27 answers

Credit union virgin. Several questions re CUs in Seattle area. [more inside]
posted by zenpop on Jun 1, 2009 - 25 answers

Best way to improve credit with car loan? [more inside]
posted by willy_dilly on Jun 1, 2009 - 11 answers

How long should I wait before making another credit card application? I was denied for a specific card I'd like (Amazon.com card through Chase) in February for "too many credit applications." Can I apply again for it now? [more inside]
posted by jgunsch on May 31, 2009 - 12 answers

What are the BEST credit card offers with values like cash back and other perks? I have excellent credit now, and want to buck up on credit now as I will be losing my job in August. I pay it off monthly. It's time the banks work for ME instead of THEM. Clark Howard was not helpful.
posted by ~Sushma~ on May 28, 2009 - 15 answers

My niece was in an upside down situation with a van which was breaking down constantly and was also a gas guzzler. She could no longer afford to run this vehicle. She works full time in a daycare where her children are enrolled and she is attending a tech school at night to improve her situation. [more inside]
posted by lungtaworld on May 23, 2009 - 21 answers

Need to find a company to fix my credit score and rating. I didn't understand years back when I had a credit card and kind of messed it up. Please help. [more inside]
posted by minsid on May 20, 2009 - 9 answers

DebtFilter: I've been paying a credit counseling company (law firm, actually) $60 a month for the past three years to make my minimum payments to the credit card companies I owe. They lowered my annual interest rate to an average of 10% and threaten that if I cancel their service, my interest rates will reset. [more inside]
posted by anonymous on May 19, 2009 - 11 answers

What should we reasonably expect to need down for a mortgage when we move? [more inside]
posted by middleclasstool on Apr 29, 2009 - 11 answers

What would happen if I put a credit freeze with two of the reporting agencies but not with the other one? If someone stole my identity would they still be able to open new accounts under my name? Also, theoretically speaking what would happen if an ID thief preemptively froze your credit essentially locking you out? [more inside]
posted by anonymous on Apr 23, 2009 - 6 answers

Tricky car loan situation. I'm thinking about paying off the remainder of a car loan with my credit card. Is this a bad idea? [more inside]
posted by anonymous on Apr 23, 2009 - 24 answers

What is the best way to cancel a bunch of credit cards? Do I have to write a letter to each and every card provider?
posted by Londonita on Apr 22, 2009 - 15 answers

What's your preferred method for getting your FICO score? [more inside]
posted by xotis on Apr 19, 2009 - 13 answers

Why was my credit line increased? [more inside]
posted by luckyveronica on Apr 15, 2009 - 15 answers

Please help me *effectively* dispute several items on my credit report (in Canada) [more inside]
posted by anonymous on Apr 14, 2009 - 2 answers