What would happen if everyone in America just said fuck their credit card bills...I would imagine it would be a pretty big deal but would they be able to do anything....For alot of the questions asked above. If you don't pay your card it will go to collections. I've been in the mortgage industry for 5 years now and almost every report I look at has collections on it now a days. Anway, As long as you have a somewhat decent score 580 or above your going to get a decent rate FHA just as you would if you had perfect credit. Now will a collection drop you below that point I have no idea. The credit scoring system sucks in this country. I have seen people with Ch13's and mortgage lates out the ass with 600+ scores and then someone with a few credit card lates being a 450. It just makes no sense.
Reminds me I should get my yearly credit reports from the 3 credit bureaus this is the only truly free one on the net www.annualcreditreport.com I couldnt get mine online for some reason so I have to print out this form & enclose a copy of my SS# & Drivers Licence & mail it in & they will mail the reports back...I found a collection from a hospital that wasnt even mine but for somebody with the (same 1st & last name) this way one time & I had to get it taken off & you can do that online... Heres the form https://fact.econsumer.equifax.com/equicom/prod/images/uib/images/MailInDislcosureRequest.pdf
