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

[ignorethis]

You still didn't have to pay that company after they won a judgement against you tho.

eh, I saw that judgements can be renewed indefinitely and I didn't want some bullshyt happening 10 years down the line relating to this shyt
But shyt, like I said I'm new to this shyt, I just been soaking up knowledge on it for the past day. Why don't I have to pay even after the judgement?

 

[newarkhiphop]

Tell me more about getting out of debit breh

All you need to know is in this book

If I knew you personally I'd buy it for you I've cash flowed $25k worth of expenses in two years with under $60k income and am on schedule to pay off $42k worth of student loans in 3 years, all done following the plan in the book

 

[th_412]

Explain....

I can't speak for anyone for myself but this dude I work with paid like $500 bucks down and $1500 total and his credit score went from like 500 to damn near 775 in like 2 months, so kinda sounds like what he talkn bout


Some shyt called piggybacking is what he told me its called.

 

[ignorethis]

I can't speak for anyone for myself but this dude I work with paid like $500 bucks down and $1500 total and his credit score went from like 500 to damn near 775 in like 2 months, so kinda sounds like what he talkn bout


Some shyt called piggybacking is what he told me its called.

I just looked that shyt up, that shyt is legit and supercommon

I didn't even know that shyt existed, rep incoming

EDIT: The good and the bad of credit account 'piggybacking'
seems like FICO nerfed how effective it is, because too many people were abusing it. But it still works.

 

[El Bombi]

eh, I saw that judgements can be renewed indefinitely and I didn't want some bullshyt happening 10 years down the line relating to this shyt
But shyt, like I said I'm new to this shyt, I just been soaking up knowledge on it for the past day. Why don't I have to pay even after the judgement?

All a judgement shows is that you legally owe them. That's it. You still don't have to pay them.

 

[meth68]

Question #1...

Why are you paying charged off debt in the first place, charged off means they tried way to long to collect and gave up on you.

 

[ignorethis]

Question #1...

Why are you paying charged off debt in the first place, charged off means they tried way to long to collect and gave up on you.

they sold off the debt to another creditor so now I had credit balances from who they sold it to.

All a judgement shows is that you legally owe them. That's it. You still don't have to pay them.

what about liens and garnishment though?

 

[El Bombi]

they sold off the debt to another creditor so now I had credit balances from who they sold it to.


what about liens and garnishment though?

Only the IRS can do that.

A debt judgement can't garnish anything.

 

[ignorethis]

Only the IRS can do that.

A debt judgement can't garnish anything.

Sounds good but you sure about that? Maybe it varies from state to state
Can My Wages Be Garnished For Old Judgment? | Bankrate.com

 

[HookersandIceCream]

Question #1...

Why are you paying charged off debt in the first place, charged off means they tried way to long to collect and gave up on you.

That's not really true
That means they sold off the the debt but someone can still try and collect

To you and OP
There's absolutly no reason to not pay a debt if you are under 7 years. It might not help your score or it might even drop but long term it will be a huge positive. You are paying a hundreds to thousands more in interest if you have a low credit score. And the debt will keep your score lower than it should be.

 

[director_of_bands]

after these last 2 car payments my credit score is about to skyrocket

 

[Nature's Fury]

BOA was tryin to bullshyt me two years ago about some charges on my debit, so I decided to never pay my credit card again and got it charged off at around $3,500...

they ain't ever gettin that dough..

 

[Groot]

I am Groot????

:grootcry:​

 

[FireFatMike]

I can't speak for anyone for myself but this dude I work with paid like $500 bucks down and $1500 total and his credit score went from like 500 to damn near 775 in like 2 months, so kinda sounds like what he talkn bout


Some shyt called piggybacking is what he told me its called.

I just looked that shyt up, that shyt is legit and supercommon

I didn't even know that shyt existed, rep incoming

EDIT: The good and the bad of credit account 'piggybacking'
seems like FICO nerfed how effective it is, because too many people were abusing it. But it still works.

How do you find one of these companies?

 

[Mordith]

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

The mortgage Co required you to pay the Student loans because they are reported indefinitely. I believe federal tax liens are the only other derrog that isn't purged from credit reports after 7 years.