never pay your old debts if you're tryna boost your credit score smh

[HalfwayHandsome]

I owed 9k to the bank from 2008. I called them and told them my aunt was gonna give me 3k and that's all I got. I said I can wire the money thru my lawyer this week is you agree. They told me they would call me back. ...
They called me back in 20 mins and agreed. I also told them I want it in writing that they will take it off my credit report... they sent that email the next day with everything I demanded...

 

[Standing on business]

Im in this exact situation. I just found out I owe 600 and it has been in collections for 5 yrs. My lawyer didnt pay the hospital after a settlement.

I have 600, should I just pay it up or leave it for another 2 yrs. Mind u I was declined for a credit card because of this charge.

I'd have to look at your full credit report and income to let you know. Just know that wasn't the only reason you were declined. Trust me if you made 60k+ a year with no other bad marks and great credit history since then(also no other debt) you probably would've been good.

 

[Frankie Wallace]

You a stain for paying that.

Let me guess you'd rather spend 20 dollars for a Chicago great value brand burner?

 

[Heretic]

Idk where you getting your info from about it not affecting you, I just bought a house 5 months ago and when they ran my credit they asked me about defaulted student loans (which I eventually paid off) from 13 years ago

You have a debit pay it off is my motto, save cash buy everything cash, you don't need a high credit score to buy a house. Staying in debit is not the way to go, just think about that cycle, the only way you can borrow money is by owing money?


Dont worry coli financial advisors will come in here soon enough agreeing and bragging about there fake reward points

Student loans will follow you for life, but he's right about that other stuff. Best practice is to pay what you owe in any instance because when it boils down to it, any underwriter can look at your debts and decide to not take a risk on you even if it's over 7 years. Credit score is just part of the process, I had to close 2 credit cards that I wasn't even using to get my crib, even though it didn't affect me buying a house.

 

[DrunkenNovice]

Smh at some of the stuff being said in here

#cashbackcrew

 

[Mowgli]

I just became debt free.

Now my wife wanna drop 500k on a house.

Women

 

[Standing on business]

I just became debt free.

Now my wife wanna drop 500k on a house.

Women

All they see is a nice house and a affordable monthly payment, they don't see how much interest you really pay over 30 years plus all the extra $$$ that's goes with home ownership. If you got it like that then fine but most people don't and think they do based off a monthly payment

 

[newarkhiphop]

Im in this exact situation. I just found out I owe 600 and it has been in collections for 5 yrs. My lawyer didnt pay the hospital after a settlement.

I have 600, should I just pay it up or leave it for another 2 yrs. Mind u I was declined for a credit card because of this charge.

Pay it

 

[Mowgli]

All they see is a nice house and a affordable monthly payment, they don't see how much interest you really pay over 30 years plus all the extra $$$ that's goes with home ownership. If you got it like that then fine but most people don't and think they do based off a monthly payment

She's out her mind. Talking but she wanna have the house to pass down to our son which is cool but if I was OK with it she'd be willing to drown in that house with a crazy monthly payment just to say she's paying into something she owns. Nah.

 

[HookersandIceCream]

Im in this exact situation. I just found out I owe 600 and it has been in collections for 5 yrs. My lawyer didnt pay the hospital after a settlement.

I have 600, should I just pay it up or leave it for another 2 yrs. Mind u I was declined for a credit card because of this charge.

Pay that shyt
I refuse to believe people are this dumb

 

[Sly Cookin]

Pay that shyt
I refuse to believe people are this dumb

Breh, I woulda paid this shyt a long time ago. I literally found out about it last week.


Now some cats telling me its pointless to pay cause its almost charged off by now. And others telling me to just get it over with. Trust me I rather just pay it all off

 

[Couth]

Have a finesse game brehs.

you don't have to worry about these things when hoes and jays pay your bills.

 

[newarkhiphop]

Pay that shyt
I refuse to believe people are this dumb

he finna listen to these coli cats, have that shyt go to a collection agency be a negative mark on his financial record all while thinking he raising his credit score

 

[ignorethis]

Breh, I woulda paid this shyt a long time ago. I literally found out about it last week.


Now some cats telling me its pointless to pay cause its almost charged off by now. And others telling me to just get it over with. Trust me I rather just pay it all off

Is it charged off or not?
If it's not charged off you can prevent it from becoming that by paying it off

Pay that shyt
I refuse to believe people are this dumb

If it is charged off what benefit does he get from paying it off? Other the underwriter/individual loan specialist that may take note that he pays back his debts, that shyt gonna remained charged off for the remaining 2-3 years whether he pays or not.

I not being argumentative I'm really trying to know because I'm trying to rationalize what I did. Because all I'm seeing is some feel-good "Its good to pay what you owe" and "this might help you down the line if you want a big loan like a business loan or mortgage" keyword = "might"

he finna listen to these coli cats, have that shyt go to a collection agency be a negative mark on his financial record all while thinking he raising his credit score

no slugs but you didn't know the difference between a secured and unsecured debt earlier in this thread and were tryna give advice...

 

[At30wecashout]

You a stain for paying that.

Was thinking the same thing. For a stack, gimme two hours and I could outfit a squad of 6 at least.

Might even find a pineapple for him. Chicago game is fukked up like that.:letyasoulglow: