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The Mouth

(3,413 posts)

14. One trick that can work

Reply to FirstLight (Original post)

Wed Nov 10, 2021, 04:36 PM

Nov 2021

Pay off your credit card a few days before it's due. The ratio of amount of your balance to the amount of your credit is a big factor.

PS - Good Work!!!

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So stoked! Finally was able to pay off 2 more collection accounts! [View all] FirstLight Nov 2021 OP

most collections accounts show up on credit score for 7 yrs or so. well done nt msongs Nov 2021 #1

first suggestion for being an adult lapfog_1 Nov 2021 #2

heehee...It fits though... FirstLight Nov 2021 #5

If you paid off a debt smaller than owed SmittyWerben Nov 2021 #3

get confirmation of pay off in writing and keep forever. those debts get sold and others try to Demovictory9 Nov 2021 #4

Very true. I paid off late FIL's credit card debt, a few thousand. 10 years later, we went to sell Hoyt Nov 2021 #7

omg. :-( save two hard copies, and email yourself a copy. I write "KEEP FOR EVER" on documents Demovictory9 Nov 2021 #8

Debt is bad Johnny2X2X Nov 2021 #6

thanks for the advice. FirstLight Nov 2021 #9

Good job! The collections morass can be nearly impossible to scratch out of... Wounded Bear Nov 2021 #10

ya...there's still ONE left and I can locate the creditor or account holder. FirstLight Nov 2021 #11

I refinanced my house and took out about $40,000 in equity. patphil Nov 2021 #12

Nice... FirstLight Nov 2021 #15

That must feel SOOO good! secondwind Nov 2021 #13

One trick that can work The Mouth Nov 2021 #14

yep...I have been doing it for the past 3 paymts on the new card. FirstLight Nov 2021 #16

Borrowing money to pay debt.... not the worst idea. 3Hotdogs Nov 2021 #17

Well I didnt borrow to npay down the old debt, so that's good.... FirstLight Nov 2021 #18

Congratulations! NurseJackie Nov 2021 #19

Congrats! ananda Nov 2021 #20

Be aware - if a creditor "forgives" some of your debt you will be taxed on it! forgotmylogin Nov 2021 #21

I wasn't forgiven for shit! lol FirstLight Nov 2021 #22

Good deal! forgotmylogin Nov 2021 #23

Keep it up! MontanaMama Nov 2021 #24

My personal adventures in credit began when I took a VISA card into an Emergency Room. hunter Nov 2021 #25

Congratulations! I finally paid all of my debt off this year. IrishEyes Nov 2021 #26

Two books may be of interest to you. 3Hotdogs Nov 2021 #27