Credit and Debt Blog
A Service of Debtors Unite, Inc.
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(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.
(Jason from California) Can a collection agency garnish my pay? 
(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?
(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?
(Kathy from Florida) How long does a foreclosure typically take in Florida?
(Ryan from Pennsylvania) Does it hurt my credit score if I close a credit card account?
(Gary from Indiana) Is there a maximum time limit a creditor can attempt to collect a debt?
(Mark from New York) Can you help me with my car payments?
Dear Mark,
Credit counseling can help you find solutions for paying all of your bills. Sometimes a debt management program can be very beneficial for handling all of your unsecured debt, such as credit cards and personal loans. While this program does not allow for secured vehicle loans, it might save you enough on monthly payments to make it easier to make your regular car payments.
That being said, I will caution you about firms that claim to be able to help you avoid repossession for a fee. These firms frequently do nothing to help. Furthermore, even when they do negotiate a workout arrangement, it is normally something you could have done on your own without paying their fee.
It might be useful to see what types of workout arrangements are possible. That should provide some help for you to make your car payments.
[Mike from California] Does a car dealer have to provide you with the lowest interest rate?
