(Sam from Maine) I just found out that I owe thousands of dollars on credit cards that I shared with my wife. She ran up the balances after our divorce. Am I responsible for paying my ex-wife’s credit card debt? (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Archive for the ‘Ask a Question’ Category
Do I Need Good Credit to Start a Business
(Cheryl from Pennsylvania) I want to start my own buisness but I have bad credit. Do I need good credit to start a business? (more…)
I was just late on one credit card, will the universal default clause raise all my rates?
(Mark from California) I was just late on one credit card, will the universal default clause raise all my rates? (more…)
Will a Debit Card Help Me Build Credit?
(Doug from Georgia) My credit score was low becuase I don’t have any credit cards. I use my debit card frequently and would like to avoid the risks of credit cards. Will a debit card help me build credit or do I also need credit cards? (more…)
Does my payment history drop off my credit after 2 years?
(Mindy from Oklahoma) My credit report shows my payment history for 2 years for my credit card. Does this mean that it drops off my credit after 2 years?
Mindy, some credit reports will display your recent payments going back a couple of years on your credit report. Even so, your payment history is factored into your credit score for up to 7 years on that credit card.
I heard that rates were going up, but mine went from 14% to 25%. Why did this happen?
(John from South Carolina) My interest rate just went up on my credit card even though I keep making the minimum payment. I heard that rates were going up, but mine went from 14% to 25%. Why did this happen? (more…)
When a debt is sold can the new company get an additional 7 years to report on my credit report?
(Barbara from South Carolina) I have old accounts that have been transferred to or sold to other lenders. The date of last activity exceeds the 7 year FTC law. Does the new company get an additional 7 years to report on my credit report? If not, what do I do to resolve this? (more…)
How long does a foreclosure typically take in Florida?
(Kathy from Florida) How long does a foreclosure typically take in Florida? (more…)
Does it hurt my credit score if I close a credit card account?
(Ryan from Pennsylvania) Does it hurt my credit score if I close a credit card account? (more…)
Is there a maximum time limit a creditor can attempt to collect a debt?
(Gary from Indiana) Is there a maximum time limit a creditor can attempt to collect a debt? (more…)
