A Quote by Suze Orman
I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years.
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You settled a debt instead of paying in full will stay on your credit report for as long as the individual accounts are reported, which is typically seven years from the date that the account was settled. Unlike with bankruptcy, there isn't a separate line on your credit report dedicated to debt settlement, so each account settled will be listed as a charge-off.
Credit card companies are jacking up interest rates, lowering credit limits, and closing accounts - and people who have made timely payments are not exempt. So even if you pay off your balance - and that's tough when interest rates are insanely high - there's a good chance your credit limit will be slashed, and that will hurt your FICO score.
Your FICO score is an "I love debt" score. You're going to pay a bazillion dollars in interest to keep your FICO score up in order to have lower homeowner's and car insurance rates.
I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.
Late payments also hurt your FICO score. And never, ever take out a cash advance on your credit card.
Once the settlement is completed, the credit card company will report it to the credit bureaus, which will then make a notation on your credit report that that account was paid by settlement. That's going to signal to future lenders that you left the last guy hanging. That's why, as with bankruptcy, debt settlement is an extreme option, one you shouldn't take lightly. It's not just an easy, cheap way to eliminate debt.
I am accounted by some people as a good man. How cheap that character is acquired! Pay your debts, don't borrow money, nor twist your kitten's neck off, nor disturb a congregation, etc., your business is done. I know things of myself, which would make every friend I have fly me as a plague patient.
Anything past 90 days constitutes 'severe,' but all late payments stay on your report for seven years if reported.
Hedge funds are investment pools that are relatively unconstrained in what they do. They are relatively unregulated (for now), charge very high fees, will not necessarily give you your money back when you want it, and will generally not tell you what they do. They are supposed to make money all the time, and when they fail at this, their investors redeem and go to someone else who has recently been making money. Every three or four years they deliver a one-in-a-hundred year flood. They are generally run for rich people in Geneva, Switzerland, by rich people in Greenwich, Connecticut.
Facebook has been around for seven years. It has 500 million users. If you can't figure out how to make money off half a billion people in seven years, I'm going to go out on a limb and say you're unlikely to ever do.
When you have arrived at your country house and have saluted your household, you should make the rounds of the farm the same day, if possible; if not, then certainly the next day. When you have observed how the field work has progressed, what things have been done, and what remains undone, you should summon your overseer the next day, and should call for a report of what work has been done in good season and why it has not been possible to complete the rest, and what wine and corn and other crops have been gathered.
Great people in the United States have been disenfranchised.I'll give you an example, it has always been the way to do it, to work hard, save your money, put your money in the bank, get interest on your money and retire wealthy, at least modestly wealthy. Well, the people that have done that have been hurt terribly because there is no interest on your money. You get no money. I just signed for some CDs where you are getting a quarter of one percent. A quarter of one percent! They don't even want your money, the banks.
The key to making sure your credit stays good is paying the bill on time. If you are paying the balance off even if there is something on the card in recent purchases, you are good.
Focus on solving real problems and not on making money. There will be enough takers for your solutions. You will help make lives of some people better, and money will follow.
If you’re not familiar with it, a college degree is a thing that we tell our kids to buy with money they don’t have, in hopes that it will help them make money they might earn, which will give them the ability to pay back the money they spent in order to make the money they’re paying it back with.
The best way to encourage economic vitality and growth is to let people keep their own money.When you spend your own money, somebody's got to manufacture that which you're spending it on. You see, more money in the private sector circulating makes it more likely that our economy will grow. And, incredibly enough, some want to take away part of those tax cuts. They've been reading the wrong textbook. You don't raise somebody's taxes in the middle of a recession. You trust people with their own money. And, by the way, that money isn't the government's money; it's the people's money.
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